• Fin24's biz quiz

    Test your business news in 30 seconds with this Fin24 quiz.

  • Inside Labour

    Brexit should send warning signals to worker organisations everywhere, says Terry Bell.

  • Racial redress

    The next adult generation is at risk of being polarised on the basis of skin colour, says Solly Moeng.

All data is delayed
Loading...
See More

SA medical costs among world’s highest

Aug 02 2012 09:21
Sapa

Johannesburg - Medical costs in South Africa are up to five times higher than those in other nations, Business Report reported on Thursday.

Department of Health head of pricing Anban Pillay said the cost of hospitalisation for maternity was $3 000 (R24 605) while the average cost in Organisation for Economic Cooperation and Development (OECD) countries, comprising mostly developed nations, was $2 750 (R22 554), the paper reported.

However, when the cost was adjusted for purchasing power, other countries only paid about $500 (R4 100).

Pillay said the purchasing power estimate was based on the entire South African population's affordability levels.

However, even if it was adjusted to include only those with medical schemes, it would still not come close to the average of OECD countries.

"Clearly, the prices in South Africa are much higher than the affordability level," Pillay said. "Even if you adjust it to the wealthiest person in the country, it will still be higher."

He said private sector pricing could be reformed based on costing information in the public sector.

*Follow Fin24 on Twitter, Facebook and Google+.

 
oecd  |  healthcare  |  medical costs

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
4 comments
Comments have been closed for this article.
 

Company Snapshot

We're talking about:

THE DEBT ISSUE

Debt is one of the biggest financial issues facing South Africans today. Find out how you can avoid and manage your debt with Fin24 and Debt Rescue.
 

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

Labour’s call for a cap on salary of high earners is?

Previous results · Suggest a vote

Loading...