Tight Budget Entails A Healthcare Overhaul

News: Healthcare in Australia is expected to undergo an overhaul following the announcement of a tough federal budget by the government on May 13. An audit of the Australian economy by the National Commission of Audit found that healthcare contributed to 8.9% of gross domestic product in FY10/11, and was identified as the country's most serious long-term fiscal challenge. The audit also suggested implementing a fee of AUD15 (USD14.07) for doctor's visits and recommended a US-style healthcare model, under which everyone is mandated to buy private health insurance, while lower wage earners will receive a grant. This will move Australia away from universal health coverage, which was first introduced in the 1970s.

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Related sectors of this article: Pharmaceuticals & Healthcare, Healthcare
Geography: Australia

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