In this week’s edition of our news recap, we cover research and healthcare developments, investments in life sciences innovation, and the rise of our expenditures, according to the Canadian Institute for Health Information (CIHI).
The federal government is investing over $4.7 million in the Health System Impact (HSI) Fellowship program to help researchers. The program supports Ph.D. students and postdoctoral fellows in collaboration with health organizations on high-priority challenges, focusing on issues such as improving transitions in care, supporting healthcare workforce well-being, enhancing rural healthcare access, and innovating long-term care.
A new study published in Wiley showed that the HSI Fellowship program has been effective in enhancing fellows' competency development. Results indicated that the competency strength of the fellows significantly improved across 10 domains over time, with supervisor ratings tending to be higher than self-assessments. Differences in competency ratings between male and female fellows and between academic and health system supervisors were minimal, demonstrating the program's inclusiveness.
Furthering the stride in life sciences, the government is also investing over $4 million into the Children’s Hospital of Eastern Ontario Research Institute (CHEO RI) for the 8-80 Collaborative with Bruyère—a visionary initiative set to propel innovation and economic growth.
This four-year initiative fosters innovation in the life sciences sector by bringing together regional representatives, health professionals, and companies. It aims to support over 30 businesses, train 50 individuals, and create more than 85 jobs.
All these forward initiatives are good to hear, especially when CIHI revealed that Canada's health spending is on the rise, with expected expenditures reaching $344 billion in 2023, amounting to approximately $8,740 per person.
While this represents a $9 billion increase from the previous year, the growth in health spending remains below pre-pandemic levels, as The Canadian Press reported. The pandemic led to a sharp rise in health spending in 2020 and 2021, but in 2022, annual growth decreased to 1.5%, followed by a modest increase of 2.8% in 2023.
Unveiling a broader perspective, a Sun Life Financial survey exposes the ripple effect of rising health costs on retirement plans for both baby boomers and millennials. Notably, 32% of baby boomers have altered their retirement plans due to health expenses. Similarly, 31% of millennials report having chronic conditions requiring treatment, with over half of them failing to factor the cost of managing these conditions into their retirement plans.
In other news, nursing organizations penned an open letter urging comprehensive action to address the nursing shortage crisis, emphasizing retention and addressing unsafe working conditions. Researchers in the sleep community are advocating for the end of daylight-saving time, citing health concerns. Canadian premiers are gathering in Halifax to discuss healthcare workforce issues, among other priorities.
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