The Bermuda Health Council [BHeC] released its third National Health Accounts report which details health system costs for the fiscal year ending 31st March 2011. The report shows that Bermuda’s total health spending was $679 million, which amounted to $10,570 per person.
68% of financing was from the private sector [$463.1 million] while 32% of financing was from the public sector [$215.9 million] and health insurance accounted for 55% of financing sources [$374.7 million].
Summary of the key findings, click to enlarge:
Health Minister Zane DeSilva said: “When we look at spending statistics we can see that the Bermuda Hospitals Board accounted for 43% of total health expenditure; overseas care accounted for 14% of total health expenditure; private, local health providers accounted for 22% of total health expenditure; and prescription drugs represented 6% of total health spending.
“Projections from the report indicate that if health spending continues to grow at the same rate experienced in recent years, by 2021 it is estimated that health expenditure could reach $1.7 billion dollars. This would equal $25,900 per person, if population size remains the same.”
The full report is here [PDF]