CEO | HealthCare | Public & Private Health Sector Transformation | Business Strategy | Impact Investment & Economic Analysis | KSA Vision 2030 |
The healthcare sector will remain a priority for Vision 2030 objectives. In 2024, the sector's budget allocation ranks third, trailing only military and general items, underscoring the government's ongoing prioritization. The budget statement outlined projects aligned with Vision 2030 goals, focusing on workforce capabilities and system capacity. This is expected to boost health expenditure, prompting a revision of the 2022-2027 CAGR forecast to 5.9% (previously 4.3%). With faster economic growth driven by high oil prices and a strong non-oil sector, diversification and healthcare goals are set to advance. Saudi Arabia has announced several healthcare projects for 2024 that will aim to improve service quality, increase system capacity and strengthen preventative measures. Initiatives aligning with Vision 2030 and the Health Sector Transformation Programme include launching the National Health Emergency Operation Center in 2024. This project targets workforce development through training, research, and partnerships. The kingdom plans to increase bed capacity by building multiple hospitals, aiming for 1,100 beds. Additionally, new legislation and the World Health Organization Collaborating Centre for Nutrition and Food aim to improve public health through preventive measures. Recent healthcare advances support ongoing progress towards Vision 2030 objectives. Saudi Arabia initiated its national electronic health record system in 2023 under the NPHIES, enabling patient data exchange. With 14.7 million beneficiaries linked, this boosts healthcare efficiency and informs decisions. State-funded insurance for all by 2026 enhances access and aligns with Vision 2030, stressing accessible healthcare and digital integration. The private sector's healthcare contribution is increasing due to government efforts to enhance spending efficiency and involve the private sector more. Private health expenditure is expected to exceed public spending, driven by the growing private sector's role and demand for private healthcare. This aligns with Vision 2030 objectives and presents growth opportunities for private healthcare companies, especially with a projected five-fold increase in private health insurance. #saudihealthcare2030 #budgetpriorities #vision2030 #healthcareprojects2024 #healthcaretechnology #preventivemeasures #publichealth #electronichealthrecords #insurancecoverage #privatehealthcaregrowth https://lnkd.in/dzE6DPpK
When reducing budgets it is important to retain and engage existing workforce. What is your strategy for empowering and educating your workforce with the nessary tools to support their health and wellbeing? Everytime you loose a nurse it is a cost to recruit and train. Our experience supports educating and developing tools necessary to retain and engage a well workforce.