Healthcare is central to the Canadian economy, accounting for 11.5% of Canada’s GDP in 2019. In late 2020, COVID-19-related health funding announcements by Canadian governments surpassed $29 billion, driven by spending on personal protective equipment, screen capacity, labour compensation, and spending for vulnerable populations.1 Key cost drivers like population growth and age are likely to increase demand for healthcare services and healthcare spending further in the coming years.
Technology adoption and the shift to digital could help mitigate these trends while improving access to care and enabling higher-value care models. Telehealth, virtual care, and wearable devices were embraced over the course of the pandemic to meet the demand for distance health, but moving forward, they have the potential to improve access to healthcare and lower costs for patients in rural and remote areas.
