A new report by the Australian Institute of Health and Welfare (AIHW) found spending on health goods and services grew by $14.6 billion to $220.9 billion during 2020–21 – the second year (first full year) of the COVID-19 pandemic in Australia.
The report, Health expenditure Australia 2020–21, shows that total health spending is equivalent to 10.7% of Gross Domestic Product (GDP), the highest ratio since consistent data became available in 1985–86, and 0.5 percentage points higher than in 2019–20. After adjusting for inflation, total health spending grew by 7.1% compared with 2019–20 – more than double the average yearly growth rate over the decade (3.4%). This translated to an average health spending of $8,617 per person in 2020–21 – an increase of $533 in real terms from the previous year.
Read more: