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Acadia University - ECON 101Canada and US health care

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I. Introduction Healthcare is one of the most crucial components of any country’s annual economic spends, accounting for not just the overall health of its population, but also formulating and im... plementing policies that look at a spectrum of public health-related issues, right from maintaining records to effective handling of insurance claims, and from prescribing standardised practices in patient care to reaching out to the disenfranchised in society. In this context, the healthcare systems of both Canada and the US need to be carefully studied, because they are not just different but in some cases, polar opposites of each other. At its core, the healthcare system in Canada relies on a structure that is funded by the public through taxes and the rest by the Government through budgetary allocation. Basing its healthcare system on the Canada Health Act of 1984, the country’s healthcare has often been lauded for its simplicity and cost-effectiveness, since each province handles insurance claims in that province, advertising is kept at a minimum level to aid more funding towards healthcare, and all basic health care is covered by the Government. The major thrust of Canada’s healthcare policies and subsequent reforms (made as late as year 2010) seek to provide a comprehensive health cover for all citizens, taking into account primary health care, formulating and implementing a national pharmaceutical plan, and minimising wait lists for patients, to name a few reforms. In contrast to Canada, US consumers do not pay for their drugs directly to the manufacturers, but procure them through Government agencies. Healthcare in the US does not guarantee every American automatic or immediate access to health care. Most of the country’s healthcare providers – such as hospitals and clinics – are owned by private entities, though some are also owned by State, City and Federal entities. A major chunk of an individual’s [Show More]

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