According to the Canadian Institute for Health Information (CIHI) Canada is expected to spend a new record of $308 billion on health care in 2021, approximately $580,000 every minute.
Growth in health spending is expected to have increased by about 12% between 2019 and 2020. That’s about triple the growth rate for 2015 to 2019 and a rate of increase not seen in more than 30 years.
While hospitals, physicians and drugs continue to make up the largest areas of spending, the new spending category COVID-19 Response Funding will make up about 7% (approximately $23 billion) of total health spending. It was created due to the immediate need to scale up health systems to respond to the pandemic.
Learn more about national health spending trends and drug spending trends in the latest CIHI releases.