Shaw Capital Management News: Public Health Financing Abysmally Low, Says Cmd
Govt spends N4,500 per patient yearly
The Federal Government spends N4,500 on a patient yearly, a medical practitioner has said.
The Chief Medical Director (CMD), Lagos University Teaching Hospital (LUTH), Idia Araba, Prof Akin Osibogun, made this known at a workshop by the hospital for health reporters in Lagos.
Comparing health financing in the United States to Nigerias, he said public expenditure per head on health care in the US is $7,681 while that of Nigeria is below $30. Nigerias Gross Domestic Product (GDP) per head is $1,000 while in the US it is $22,000.
He said the yardsticks for measuring health care are indices of health outcome such as infant rates, death of under-five and maternal deaths.
He said patients should pay for treatment, because health care is expensive, and the government cannot do it alone.
On the saying that prevention is better than cure, he argued: Preventive medicine should be embraced as curative medicine is expensive and unattainable by the poor especially.
According to him, the quality of health care that people want is capital intensive and the government cannot do it alone. Whenever you match quality against equity, quality must suffer.
To achieve the best practices, he noted that technology is needed in health care, but it is quite expensive, as it has to be managed and in some cases replaced.
Osibogun said: Health is not merely the absence of diseases, but a complete state of physical and mental well-being. This requires a lot of things.
He said whereas private hospitals can charge a fee of N1million to enable to replace the equipment they use, adding that government hospitals cant charge that high amount and may not be able to replace the items used.
He said technology advances the ability of experts to conduct diagnosis and detect diseases. This, he said, brings to the fore some of the challenges in defining health.
He said health is viewed from five Ds death, diseases, disability, discomfort and dissatisfaction.
Osibogun said technology must be funded as it had economic implication to it. An x-ray can perform limited functions, but a CT scan can do more while a Magnetic Resonance Imaging (MRI) can pick more information than the CT scan, he added.
He said further that defining disease is not also easy as economy and technology deployed have roles to play. For example, on breast cancer some of the lumps can be benign, others may be malignant. You can diagnose with immunograph or biopsy. Technology can help make better diagnosis but it is expensive, he said.
About Shaw Capital Management Factoring and Financing Latest News
Shaw Capital Management and Financing provides export trade financing to clients in every major world market and can convert accounts receivable finance transactions in 17 currencies. We have no minimum or maximum monthly volume requirements. Other factoring companies require a financial commitment for the amount of freight bills you factor each month. Our highly skilled team provides full administrative support including credit management, invoicing, collections, account reporting, expense reporting, fuel card management and much more! With Shaw Capital Management and Financing, you get paid in full minus our fee the day we receive your freight bills. Other factoring companies holdback 10 to 15 percent of your money or more for each invoice in a reserve account. That reserve amount is not immediately provided to your company. In the end, you receive part of that percentage back, depending on how long it takes the factoring company to receive payment on the invoice.
The Federal Government spends N4,500 on a patient yearly, a medical practitioner has said.
The Chief Medical Director (CMD), Lagos University Teaching Hospital (LUTH), Idia Araba, Prof Akin Osibogun, made this known at a workshop by the hospital for health reporters in Lagos.
Comparing health financing in the United States to Nigerias, he said public expenditure per head on health care in the US is $7,681 while that of Nigeria is below $30. Nigerias Gross Domestic Product (GDP) per head is $1,000 while in the US it is $22,000.
He said the yardsticks for measuring health care are indices of health outcome such as infant rates, death of under-five and maternal deaths.
He said patients should pay for treatment, because health care is expensive, and the government cannot do it alone.
On the saying that prevention is better than cure, he argued: Preventive medicine should be embraced as curative medicine is expensive and unattainable by the poor especially.
According to him, the quality of health care that people want is capital intensive and the government cannot do it alone. Whenever you match quality against equity, quality must suffer.
To achieve the best practices, he noted that technology is needed in health care, but it is quite expensive, as it has to be managed and in some cases replaced.
Osibogun said: Health is not merely the absence of diseases, but a complete state of physical and mental well-being. This requires a lot of things.
He said whereas private hospitals can charge a fee of N1million to enable to replace the equipment they use, adding that government hospitals cant charge that high amount and may not be able to replace the items used.
He said technology advances the ability of experts to conduct diagnosis and detect diseases. This, he said, brings to the fore some of the challenges in defining health.
He said health is viewed from five Ds death, diseases, disability, discomfort and dissatisfaction.
Osibogun said technology must be funded as it had economic implication to it. An x-ray can perform limited functions, but a CT scan can do more while a Magnetic Resonance Imaging (MRI) can pick more information than the CT scan, he added.
He said further that defining disease is not also easy as economy and technology deployed have roles to play. For example, on breast cancer some of the lumps can be benign, others may be malignant. You can diagnose with immunograph or biopsy. Technology can help make better diagnosis but it is expensive, he said.
About Shaw Capital Management Factoring and Financing Latest News
Shaw Capital Management and Financing provides export trade financing to clients in every major world market and can convert accounts receivable finance transactions in 17 currencies. We have no minimum or maximum monthly volume requirements. Other factoring companies require a financial commitment for the amount of freight bills you factor each month. Our highly skilled team provides full administrative support including credit management, invoicing, collections, account reporting, expense reporting, fuel card management and much more! With Shaw Capital Management and Financing, you get paid in full minus our fee the day we receive your freight bills. Other factoring companies holdback 10 to 15 percent of your money or more for each invoice in a reserve account. That reserve amount is not immediately provided to your company. In the end, you receive part of that percentage back, depending on how long it takes the factoring company to receive payment on the invoice.