Health expenditures have increased over the past decades and, therefore, healthcare has been considered an economic burden. At WifOR, we are fostering a shift away from the political decision maker’s view of considering healthcare as a cost factor and towards a new perception of health as a smart investment.
Our Health Economy Reporting (HER) provides a structured approach for governments, the private sector, and public stakeholders to better understand the size, impact, and importance of the health economy. Acknowledged by the High-Level Commission on Health Employment and Economic Growth (World Health Organization 2016), HER is a useful tool for advocacy and capacity building. It enables an evidence-based health policy that steers and guides investments for health, employment and sustainable growth.
Our research quantifies the Health Economy in a new way and show the sector’s contribution to economic prosperity and employment along the value chain of health. What is more, due to its structure, the Health Economy is a stabilizing pillar for economies in times of economic crises. For instance, the sector’s contribution to Germany’s economic performance increased significantly during the global financial and economic crisis in 2009.