The Philippine health care industry
According to the Institute for Development and Econometric Analysis, Inc. latest Industry Trends, the health care industry brings together health care providers and patients. It provides goods and services to treat patients with curative, preventive, rehabilitative and palliative care. The industry consists of hospital activities, medical and dental practice activities and other human health activities such as those supervised by nurses, midwives, physiotherapists, diagnostic laboratories, etc.
Delivery of health care services is composed of three levels: primary, secondary, and tertiary and quaternary. Primary care is general health care that can be provided by a general practitioner or even by a non-doctor health care professional, while secondary and tertiary care is specialized health care provided by a specialist. Quaternary care is even more specialized and is sometimes experimental.
According to Allianz, the Philippine healthcare system can still be considered to be of good standard even though there have been recorded cases of drug dependency and malnutrition. Medical practitioners in the country are graduates from the country's top universities, and most of them have studied in US medical schools. There are also doctors who have practiced in the US and have returned to share their expertise. Filipino nurses are also trained by nursing schools that have excellent standards.
Per IDEA, the Philippines has both private and public health care institutions. Most of the government hospitals provide quality health care in the same way that private hospitals do. PhilHealth, a national health insurance agency has been in operation since 1995. Its population coverage has incrementally increased, but the limited breadth and depth of coverage has resulted in high levels of out-of-pocket payments. In July 2010, a major reform effort aimed at achieving "universal coverage" was launched, which focused on increasing the number of poor families enrolled in PhilHealth, providing a more comprehensive benefits package and reducing or eliminating co-payments.
According to the national income accounts, the gross value added of the health and social work industry amounted to Php172.04 billion in 2013 and Php40.82 billion in the first quarter of 2014. Computed from constant prices, the industry's GVA grew 6.52 percent in 2010, 8.19 percent in 2011, and 11.4 percent in 2012. The industry's growth slowed down in 2013 to4.3 percent. However, the 14.7 percent growth in the first quarter of 2014 may signify a comeback.
The implicit price index of the health and social work industry increased by 2.99 percent in 2012 and 3.92 percent in 2013. Itdeclined inconsiderably in the first quarter of 2014.Average sales of firms offering private medical, dental andother health services that belong to the SEC's 2011 top firms list amounted to Php132.53 million. Excluding Fort Bonifacio Medical Centre which experienced an 8.7 million jump in sales, a clear outlier, average growth in sales of these firms was 44 percent.
Also labor costs of health care activities comprise 35.33 percent of total costs. Doctors, nursesand other medical staff that run the hospital are skilled workers. Gross addition to tangible fixed assets per establishment amounted to Php1.72 million according to the researchers of IDEA.
- Latest
