When budgeting for healthcare, more money is never enough.
Whoever said health was a sumphole for money was right on the, err ... money. It's also, according to people like commentator Bernard Hickey, helping to make our entire economy into a bit of a sinking ship.
He says public healthcare costs are projected to rise from 6.9 per cent of GDP in 2010 to 11.1 per cent by 2060; our budget deficit will triple by that time as well, partly as a result of those healthcare costs, combined with pension payments (assuming super continues to be paid out across the board at 65).
With total spending on health in the 2012-13 year projected to be $14.75 billion, it boggles the mind just how high this figure could become in time - and how we are going to pay for it.
While healthcare practitioners, especially those in the public system, paddle like hell to keep patients well cared for, money is pouring out at an alarming rate, into ever more costly treatments and procedures for a growing number of the afflicted. Diabetes alone is estimated to add an extra $1 billion to the health budget each year.