AsiaOne

Making Healthy Life Years Part of the Currency of Growth

We are living longer but not living healthier. What it means for business.

By Norbert Hueltenschmidt and Pankaj Saluja

Published on May 19, 2015
min read


This article originally appeared on AsiaOne. As health has moved to the front page, the discussion is no longer just about the cost of care. It is about health as an investment. Healthy life years are the new currency of growth and prosperity. What's the evidence? Countries with the most healthy life years are also the most competitive, as demonstrated by the World Economic Forum's Global Competitiveness Index. The fact is, we are living longer but we are not living healthier. For every year increase in life expectancy, we live only 0.8 years in a healthy state. And when individuals live longer in a state of disability, it adds up to big costs for companies and economies. Globally, if no action is taken, we will lose US$47 trillion (S$62.1 trillion) of cumulative economic output between 2012 and 2030 because of the impact of non-communicable diseases (NCDs) and mental disorders. Where to start? Some of the necessary actions are well within reach of an individual company; others will require governments and companies to work together. In order to encourage new investments in health, the WEF, in collaboration with Bain & Company, has identified some practical actions that governments and businesses can take. Read the full article at AsiaOne.

This article originally appeared on AsiaOne.

As health has moved to the front page, the discussion is no longer just about the cost of care. It is about health as an investment. Healthy life years are the new currency of growth and prosperity.

What's the evidence?

Countries with the most healthy life years are also the most competitive, as demonstrated by the World Economic Forum's Global Competitiveness Index. The fact is, we are living longer but we are not living healthier. For every year increase in life expectancy, we live only 0.8 years in a healthy state. And when individuals live longer in a state of disability, it adds up to big costs for companies and economies. Globally, if no action is taken, we will lose US$47 trillion (S$62.1 trillion) of cumulative economic output between 2012 and 2030 because of the impact of non-communicable diseases (NCDs) and mental disorders.

Where to start?

Some of the necessary actions are well within reach of an individual company; others will require governments and companies to work together.

In order to encourage new investments in health, the WEF, in collaboration with Bain & Company, has identified some practical actions that governments and businesses can take.

Read the full article at AsiaOne.