Healthy Europe’s Healthcare Vertical to grow on a Healthy Note

Published On : Oct 11, 2021

Europe is home to the finest healthcare system across the globe. Almost every European country does have a “universal healthcare system” in place. Though the fact that every country in the Europe does have variation of its own can’t be ignored, minimization of overall expenses by contributing for healthcare as “one”, i.e. as a society is the common objective. In other words, Europe’s healthcare system ascertains that poverty-stricken people are not deprived of medical care. This stability is expected to keep the healthcare vertical steady in the next decade. At the same time, with extensive research being conducted on continuous basis, the healthcare vertical is likely to take an exponential turn going forward.

Additionally, the post-Covid-19 era has asked for a universal health coverage. That has further elevated the HQ (Healthcare Index) of Europe.

Another tendency prevalent in Europe is that of people visiting pharmacies first and the doctor later. This could be attributed to the fact that that European pharmacists are authorized to diagnose as well as prescribe the remedies for several trivial problems like stomach issues, fevers, sore throats, insomnia, sinus problems, rashes, blisters, back pain, muscle pain, join pain, and urinary tract infections. Also, it’s interesting to note that Europe is subject to topical remedies.

Foreigners could locate doctors/physicians like large hotels and tourist offices. The consulates and embassies do maintain the lists of hospitals and physicians in the major cities. Those preferring English-speaking doctors could refer to the International Association for Medical Assistance to Travelers, which has English-speaking doctors listed, which charge standardized and affable fees. For those preferring hotel care, hotel receptionist could give a call to the respective doctor, who would check you out.

In all, Europe, in terms of healthcare, has come a long way and will continue to be servile towards the natives as well as foreigners in the forecast period.

Coming to countries, Denmark stands first all over Europe. This could be reasoned with government raising and pooling funds for financing health services. Both- public and private sector handsomely caters to the needs of people herein. Austria is the second best provider of healthcare services in Europe. Healthcare system is majorly in the hands of government, with the viable option of obtaining private health insurance. At the same time, it needs to be noted that for the people belonging to low-income or no-income group, healthcare comes across as “absolutely free”, that too, without compromising on standards.

France stands third, with its decentralized Bismarck model, which implies combined funding by employees and employers for healthcare coverage via standard payroll deductions strictly directed towards “sickness funds”. However, it needs to be noted that sickness funds cover merely 70% of the medical expenses. As far as chronic or serious illnesses (like mental illness, diabetes, and cancer) are concerned, 100% costs are covered and every co-payment is waived. The job of general practitioners in France is that of keeping unnecessary hospitalizations at bay – be it psychiatry, ophthalmology, gynaecology or any other ailment. Anyone consulting a specialist without appropriate GP referral does result in reduction of coverage from sickness fund.

Coming to the United Kingdom, it’s the Beveridge Model through which universal healthcare coverage is facilitated. Government happens to be the primary payer. NHS (National Health Service) springs into action. Consultancy and service fees are charged by NHS. Close to 11% of the entire population is insured by primary, supplemental medical insurance.

It could be inferred that Europe has a well-developed healthcare system, with people from all the strata’s being taken into consideration. The market for healthcare is, in fact, people-centric and always on the verge of upgradation with respect to technology.