AmCham Presented the Healthcare Analysis 2021 to its Members

On May 13th, The American Chamber of Commerce in Bulgaria presented officially the Healthcare Analysis prepared by AmCham Bulgaria and IQVIA Bulgaria to its members.

The analysis was presented by Luca Chichov, General Manager, IQVIA Bulgaria. Daniel Kiryakov, Communications and Public Affairs Manager, AmCham Bulgaria presented the Communication Plan of the report.

The report aims to assess the current state of the HC system in Bulgaria and illustrate the long-term benefits of its optimization.

Main topics are:
  • Importance of investment in healthcare
  • Holistic view on healthcare as investment
  • Cost optimization potential & smart spending in healthcare
  • Optimized funding models
  • Role of the industry as key contributor
  • Conclusion and recommendations

Investment in Healthcare needs to be on the strategic agenda of every government to put necessary focus on people’s health and has become an absolute necessity to ensure long-term and sustainable economic growth. The impact of delayed or insufficient investment in healthcare results in indirect increases in Healthcare costs, as well as long-term decrease in labor productivity and GDP output. Investment in Healthcare has become an absolute necessity to ensure long-term and sustainable economic growth.

According to the analysis the Bulgarian healthcare system has experienced notable progress for the past 20 years, increasing years of life expectancy and healthcare spending more than 3 times. However, Bulgaria is currently caught up in a vicious circle of:

  • Worsening demographic trends
  • Poor scoring compared to EU average on: Life expectancy: 75y (BG) vs. 81y (EU); Amendable mortality (per 100k): 427 (BG) vs. 256 (EU); Infant mortality (per 1,000): 5.8 (BG) vs. 3.8 (EU); Access to healthcare.
  • Healthcare spending can possibly reach up to 50% of the disposable income of the working population by 2030.

In order to reverse the pattern, we need structural changes – increased investments in healthcare, coupled with
comprehensive strategies to target these investments to the areas that have the highest impact.

The analysis explores solutions on how to meet future needs in healthcare to save lives and enhance efficiency. The implementation of screening and prevention strategies, and the use of innovative medicine is a central instrument to save costs and potentially lives. Investment alone is not sufficient – such campaigns need to be accompanied by effective communication to raise awareness and dispel misinformation (е.g. around vaccination programs).

To learn more download the full analysis.