ANALYSIS OF GHANA’S HEALTH SECTOR|
AVAILABLE INVESTMENT OPPORTUNITIES|
This research document covers issues about the development of the health sector, cost/revenue analysis and investment opportunities available |
The health sector of a nation is a major contributing factor to sustainable development. Issues about health policy, cost of health, health revenue and investment opportunities in the health sector are among the vital issues that are considered by any government that wants to achieve sustainable development. Among the eight international development goals dubbed (Millennium Development Goals) goals 4, 5, 6 talk about health care. These goals talk about reducing child mortality rate, improving maternal health care and combating HIV, Malaria and other diseases. Ghana is no exception. This research document captures the development of the Ghanaian health sector, a cost/revenue analysis, cost of health care, the challenges in the health sector and the investment opportunities available.
PURPOSE OF THIS DOCUMENT
The purpose of this document is to inform investors and other stakeholders about the * State of the health sector
* Performance of the health sector
* Investment opportunities available in the sector
This document is first of all very informative concerning health issues. It also aims at forecasting the state and performance of the health sector in the next five years and beyond whiles highlighting areas of potentially viable investment opportunities. Further, serves as a good material for “Situational Analysis” or “Environmental Scanning” when embarking on health projects.
THE HEALTH SECTOR IN GHANA
In the late 1970s, the Government of Ghana adopted the primary health care strategy as the vehicle for achieving “Health for all” by the year 2000. However the economic crisis in the early 1980s drastically reduced resources available to the health sector, resulting in deterioration in the population’s health status. Ghana then embarked on a Medium-Term Health Strategy (MTHS) that aimed to achieve “Health for all”, by improving service quality and efficiency. As the Ministry of Health (2000) states “Since 1995, health policy has been based on Ghana’s MTHS which sought to promote greater equity in access to health and outcomes. In pursuit of this objective, Ghana’s MTHS aimed at strengthening district health services, promoting community involvement in the delivery of health services, redirecting health resources to the needy or deprived areas. Although it is difficult to discern the factors that have contributed to the improvement in some health indicators, there was no doubt that the health reform had, to some extent, contributed to the improvements. Based on World Bank data, between 1990 and 1998, infant mortality decreased by a total of 16 percent while life expectancy at birth increased by 5 percent in Ghana. The HIV pandemic then surfaced in the late 90’s and early 2000,s putting more strain on health care. More funds had to be channeled into fighting this deadly disease. HIV awareness became top issue. Money had to be spent to import anti retroviral drugs. A major change occurred in the health services in October 2003. A new health bill was passed. The National Health Insurance Bill was been passed into law by the parliament of Ghana on the 2nd of October. This set up a National Health Insurance Scheme (NHIS), which enabled residents in Ghana to obtain, at least, basic healthcare services without paying money at the point of delivery of the service. This replaced the “cash and carry” system currently in place. The Bill also provided a policy and regulatory framework in the country for health insurance that would enable the nation to achieve the goal of equitable access to basic healthcare in relation to need rather than socio-economic or socio-cultural status The year 2007...