Preventable health conditions cost G20 economies more than $1trn (£0.77trn) in lost productivity in 2019, according to research by the International Longevity Centre UK (ILC).
In a new report, the think tank explains how G20 citizens aged 50 and over collectively lived 118 million years with disability due to largely preventable conditions in 2019.
For those aged between 50-64, this cost economies $1.02trn in lost productivity, which is roughly equivalent to the estimated loss in global worker income brought on by COVID-19 during the first half of last year.
Flu alone cost these countries $27bn in sick days during that time – roughly equivalent to what India spent on its military in the same year. Population ageing and increasing health inequalities risk exacerbating the problem.
To tackle this challenge, the report calls on all G20 governments to invest at least 6% of their health budgets on preventative interventions, including vaccination, early detection of disease, lifestyle changes and better management of existing health conditions.
“Increasing efforts on prevention is not a cost, but an investment,” said Arunima Himawan, research fellow at ILC. “The COVID-19 pandemic has exposed and amplified health inequalities, but the pandemic has also shown us how quickly governments can respond.
“There is a window of opportunity now for governments to act and build lasting change.”
In the UK, reaching the 6% target would require a £2.687bn investment, which is less than 5% of the £60bn spent on COVID-19 measures.
Canada has been making this investment since at least 2010, and has since seen a significant decrease in avoidable deaths, and one of the highest survival rates for cancer.
The report also reveals that countries with a higher proportion of health spending covered by the government have the highest healthy life expectancy.
Alongside investment, ILC calls for all countries to develop national preventative health strategies, including national life course vaccination programmes that see parity of uptake targets at all age groups.
“We need to heed the lessons from COVID-19 and use the infrastructures built during the pandemic – from better public health messaging and improved collaboration across professions, to targeted community engagement and the better use of data and technology,” Himawan continued.
“The starting point for meaningful action on prevention is investment. Without it, we will likely see a huge increase in the number of people living in ill health which will not just impact people’s lives, but the economy too.”
Image credit: iStock
Author: Chris Seekings