00:00:00.000Hello, everyone. I'm here today with Mike, Mike Wixson, and I watched his show with Nadeem Ismail, and I called him and I said, we have to do a follow-up show.
00:00:25.180And the reason is, I listened to them and I said, man, I need to get on and share some facts and some numbers to really talk through this issue.
00:00:35.200This is a hot button, and I dealt with it when I did my annual budget shows, and I really touched the surface of it.
00:00:43.620I didn't go into it very deep. And, you know, it's one of those, healthcare is one of those segments where the numbers are increasing so rapidly that you really want to dig into and ask why.
00:00:56.340So, thanks, Mike. I'm glad you came aboard for another show.
00:00:59.800Well, thanks for watching the original one. You know, it's interesting because Nadeem did a great job.
00:01:04.040That report really is, it's very straightforward, as he pointed out to me. It's meant to show us how much we spend per person in Canada on healthcare, on average.
00:01:15.360And then, really, that was it. And, you know, what we pay for and how it's paid for and where this money comes from.
00:01:23.060But what it didn't do is really take the deep dive that you and I started talking about that I think is worth sharing.
00:01:28.940Yeah, and he did a great job. And I think what he looked at, he looked at public expenditures.
00:01:34.020So, now, this is the interesting part of this discussion, which I get all fired up about, is we have public and private expenditures.
00:01:41.520So, all of us know, you know, we go to the dentist, we pay for it ourself, or our benefit plan from our company pays for it.
00:01:47.020So, those are called private. When we go to the hospital, that's public, right?
00:01:51.300So, you know, he shared a number with us, and it's a public number. So, that $241 billion in public expenditures is one number.
00:02:02.580But that's not the total expenditure. So, and I wanted to jump on and talk to you about it.
00:02:07.960The total expenditure for 2024 is $372 billion.
00:05:27.280So, you know, when we look at the public expenditure, it's around $5,000.
00:05:30.880When we take out all those people, like you said, who aren't participating in the payment of it, you're probably, you know, you're around $12,000, $13,000 a person.
00:08:00.640It must be more people taxing the system in our country.
00:08:04.820Part of it is, but it doesn't correlate.
00:08:07.600So, which you're going to talk about in a minute, it doesn't, you know, it'd be great if it actually correlated directly with the number of people entering the country, but it doesn't, right?
00:08:15.740Like a lot of things we do, we just seem to have stepped up the pace of our expenditures, thinking, you know, that if we spent more money, our healthcare system would get better.
00:08:51.060You would assume that, you know, as we make comparisons against other countries, we're going to, we're going to find ourselves, you know, in a category among others that are in a similar situation for wait times and stress and struggles in the system.
00:09:05.720Well, but, you know, so let's talk about it.
00:09:31.220Well, one of the big issues that I think about, and, you know, I say this off the top of my head and based on anecdotal experience of my own, which is, you know, there are a number of people that have entered our country that are not healthy.
00:10:06.940We moved a bunch of people who currently used to do that, screen people, test, make sure people didn't have issues coming into the country and basically said, go over and just get people in the country.
00:10:47.920And the number of people, I don't know if you're sitting, when you're sitting in your local life labs or wherever you're going, I don't know if you've noticed when you're talking to the people there, you know, they're there every day.
00:11:00.460So, like, when I'm talking to people and I'm sitting there, you know, how are you?
00:11:45.840But, no, I think that when you have so many people arriving with serious illnesses and a responsibility to care for these people, that I think is going to have an impact.
00:11:56.600Alongside, yes, we did not unring this bell from COVID.
00:12:08.680You know, for those people who say, well, I paid into the health care system, right?
00:12:13.160Just so we're all, like, fully aware, the money you pay through those avenues I talked about, through income tax, EI, CPP, all those things you paid into, don't even come close to covering your health care.
00:12:51.680Part of our deficits, you know, this is part of the reason we're, you know, we're going to be doing a show on the, with the budget officer, you know, talking about his report.
00:13:00.740And quite frankly, you know, this is the reason we're talking about 60, 70, you know, if we add in military $100 billion deficits, right?
00:13:29.600So, Nick, if you go to the next slide, the next slide actually just shows us, which is a really good slide, and it's kind of a scary slide.
00:13:38.560And it's what we were talking about a minute ago.
00:13:41.020It talks, it shows you basically that our healthcare is projecting to keep scaling.
00:13:46.200So you can see the 2020 jump, you know, so we jumped up, you know, 12% of GDP.
00:13:52.380And then you can see we're going back and it's starting to ramp up again.
00:13:55.940And so, and now, to your point, Mike, is GDP potentially may go down, right?
00:14:01.500So if the tariff predictions and everything going on and the Kuzma negotiations don't go well, and we see a little bit of depressed times, recession, we're going to see a little bit of flattening of our GDP.
00:14:15.840But we're seeing an escalation in our healthcare expenses.
00:14:19.420And so that means that our healthcare grows, the ability to pay for it shrinks.
00:16:13.140So, you know, hopefully down the road and we, you know, a lot of these stats, which I'm very thankful that the Canadian Institute of Healthcare, you know, provided, which is great.
00:16:24.260We pulled a lot of these data from them.
00:16:26.340They do an amazing job at creating the stats that tell us about our healthcare system.
00:16:31.880And the Fraser Institute guys, of course, their report was amazing.
00:16:44.460And there are some reports, which we're going to do on future shows, which rank ourself, the number of physicians per province and the number of physicians in Canada ranking or verse other countries.
00:17:00.000So we'll do another show and we're going to go through that.
00:17:26.060You know, public health, a little shocking to me that it's only 6.1%.
00:17:32.700But then again, what does public health actually do except for create awareness and, I guess, during a time of COVID, make sure that we're vaccinated and informed.
00:18:41.980And if you look at this, now this is broken down by public versus private spending.
00:18:48.560So, of course, you know, you can see it's almost 50-50 in the U.S.
00:18:53.660So in the U.S., you have your public expenditures, which, you know, mostly for people who need social assistance, people who need some help with their health care.
00:19:02.580And then you have people who buy their own plans, the HMOs, their own private health care plans, their insurance, all that good stuff, right?
00:19:41.160So Australia has kind of taken a little different approach, and they've tried to go off, and they've tried to tinker with their health care system to improve it.