Sick health care system made Canadians lose more than $3-billion - News and Current Events | futures trading

Go Back

> Futures Trading, News, Charts and Platforms > Traders Hideout > News and Current Events

Sick health care system made Canadians lose more than $3-billion
Started:July 2nd, 2012 (08:49 PM) by kbit Views / Replies:158 / 0
Last Reply:July 2nd, 2012 (08:49 PM) Attachments:0

Welcome to

Welcome, Guest!

This forum was established to help traders (especially futures traders) by openly sharing indicators, strategies, methods, trading journals and discussing the psychology of trading.

We are fundamentally different than most other trading forums:
  • We work extremely hard to keep things positive on our forums.
  • We do not tolerate rude behavior, trolling, or vendor advertising in posts.
  • We firmly believe in openness and encourage sharing. The holy grail is within you, it is not something tangible you can download.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.

You'll need to register in order to view the content of the threads and start contributing to our community. It's free and simple, and we will never resell your private information.

-- Big Mike

Thread Tools Search this Thread

Sick health care system made Canadians lose more than $3-billion

Old July 2nd, 2012, 08:49 PM   #1 (permalink)
Elite Member
Aurora, Il USA
Futures Experience: Advanced
Platform: TradeStation
Favorite Futures: futures
kbit's Avatar
Posts: 5,839 since Nov 2010
Thanks: 3,275 given, 3,321 received

Sick health care system made Canadians lose more than $3-billion

The key to boosting productivity in Canada may come from an often overlooked but seemingly logical source – health care.

So says a study released this morning by the Fraser Institute, which estimated that last year Canada lost $1.08-billion in business-day economic activity due to excessive wait times at hospitals and time gaps between visits to specialists and receipt of treatment.

Long waits in emergency rooms and forcing Canadians to take time out their work days to visit multiple doctors has a cumulative effect not only on the quality of their care but on the overall productivity of the workforce, says the report.

The study estimates that when factoring non-work time, the Canadian economy loses out on an about $3.29-billion in productivity – a number that does not take into account the residual productivity losses associated with the energy and time family members may need to provide to loved ones who are not receiving efficient care.

Nadeem Esmail, senior fellow at the Fraser Institute, says the purpose of the study was to examine the efficacy of the healthcare system beyond the quality-of-care debate, which tends to overwhelm most discussion about health care.

“Rationing health care in Canada doesn’t just deprive patients of timely access to necessary medical treatment… it also causes them to lose out on wages, productivity and enjoyment in life while they wait,” he says.

The study estimates each patient loses about $3,490 each year as a result of having to wait 9.5 weeks between the time they see a specialist and the time they are able to receive care.

While Canada’s healthcare system isn’t nearly as costly as that of the U.S., spending on health care has been rising at a much faster rate than most other industrialized nations. Much of the spending has been due to a fluid transfer of healthcare-dedicated funds from Ottawa to provincial coffers, but how each province spends those resources and how effectively it cuts costs is still a bone of contention.

With more and more attention being placed on Canada’s poor productivity relative to other industrialized nations, Mr. Esmail says it’s high time Canada’s leaders begin examining more efficient means of providing health care through a socialized healthcare model that operates parallel to a private care model that is open to competition (similar to the model used in Japan and numerous European nations).

“They all have a private parallel medical sector,” says Mr. Esmail. “That is, patients aren’t shackled to the public healthcare system with no alternatives. They are able to buy their health care if they choose to do so. Finally and critically, all of these nations have a social-insurance funded healthcare system. It’s not a system run by government, it’s run by an independent group or, in some instances, private insurance companies, with the government taking a more appropriate regulatory role.”

The problem is likely to get worse as the population ages and more Canadians require higher levels of care over longer periods of time. The Canadian Caregiver Coalition estimates there are already more than 4-million Canadians today who are taking care of ailing family members and collectively losing out on $5-billion in earnings as a result. Couple that data with the fact that those same caregivers are spending more than $80-million a year on caregiving expenses and the economic consequences suddenly become severe.

The question is: Is anyone paying attention?

Wages, productivity being lost to the tune of $3.3-billion due to healthcare inefficiences | Productive Conversations | Financial Post

Reply With Quote

Reply > Futures Trading, News, Charts and Platforms > Traders Hideout > News and Current Events > Sick health care system made Canadians lose more than $3-billion

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Upcoming Webinars and Events (4:30PM ET unless noted)

An Afternoon with FIO trader bobwest

Elite only

NinjaTrader 8: Programming Profitable Trading Edges w/Scott Hodson

Elite only

Anthony Drager: Executing on Intermarket Correlations & Order Flow, Part 2

Elite only

Adam Grimes: Five critically important keys to professional trading

Elite only

Machine Learning Concepts w/FIO member NJAMC

Elite only

MarketDelta Cloud Platform: Announcing new mobile features

Dec 1

NinjaTrader 8: Features and Enhancements

Dec 6

Similar Threads
Thread Thread Starter Forum Replies Last Post
Poll: Health Care bill, for or against? Big Mike Off-Topic 99 March 25th, 2012 02:57 PM
Health Care Changes to Last, No Matter What Court Does Quick Summary News and Current Events 0 November 15th, 2011 11:50 AM
Is this how we pay for Health Care rtrade Off-Topic 32 June 24th, 2011 11:12 PM
Obama Just Eliminated Health Care Waivers kbit News and Current Events 0 June 18th, 2011 11:55 AM
More Companies Get Waivers On the New Health Care Law Quick Summary News and Current Events 0 October 7th, 2010 12:00 PM

All times are GMT -4. The time now is 01:29 AM.

Copyright © 2016 by All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts

Page generated 2016-10-22 in 0.07 seconds with 19 queries on phoenix via your IP