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Observations discerned from Intergenerational Report 2023;

The report estimates that the five major forces shaping the Australian economy over the next 40 years will be: population ageing, technological and digital transformation, climate change and the zero net transformation, rising demand for care and support services, and geopolitical risk and fragmentation. (The Intergenerational Report, 2023, p.viii)

My particular health discipline (practice management) will be most impacted by the major factors of population ageing, and the rising demand for care and support services.

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The Intergenerational Report 2023 reviews the Health of Australians and the increase in expenditure this will have for 2022-23 to 2062- 2063.

Australian Health system is projected to grow from 4.2 percent to 6.2 percent in the next 40 years (page 148) Along with an ageing population Health expenditure came from Medicare Benefits, Pharmaceutical scheme,private health, DVA, aboriginal and  Torres Strait health and well being. (page 148)
In the next 40 years 16 percent of the population will be over the age of 65, and will use 40 percent of the health expenditure. (page 149)Along with increase in population, there will be a higher need for standard of care, new technology innovation, this will put pressure on the government to increase expenditure into Health (page 149)

With an every growing ageing population, focus is going funding that is fair and equitable (page 159)

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According to the Intergenerational Report 2023, one of the main causes that will shape Australia's health economics and create fiscal challenges within the sector over the next 40 years is an increased longevity of the Australian population (The Treasury, 2023, p. viii). As a result, it will increase the demand for healthcare services, which will therefore raise the total funding of health programs by the Australian Government (page 148). It will be notable that a greater number of older population is going to become the most frequent users of the public health system as opposed to any other age group.

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the intergenerational report 2023 suggest australias ageing and slow growing population which is leading for increased demands for healthcare services,which will allow opportunities in new fields which will cause higher demnads for care and resources for technological advancements to raise the quality of life.

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the intergenerational report 2023 suggest australias ageing and slow growing population which is leading for increased demands for healthcare services,which will allow opportunities in new fields which will cause higher demnads for care and resources for technological advancements to raise the quality of life.

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The government has analysed current economic trends and applied predicted changes such as the impacts of an increased aging population and the impacts of increased reliance on digital technologies in order to draw conclusions on upcoming budgets. This was summarised in the Intergenerational Report 2023. This report suggests that there will be slower economic growth regardless of growing demand due to a multitude of reasons. This will result in pressure placed on the Australian economy which predicts gross debt to reach 32.1% of GDP by 2062.

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The Intergenerational Report 2023 consistently highlights the key points of an aging population and lower projected population growth due to a lower fertility rate (The Treasury, 2023, pg xii).

Chart 7.4 (page 146) shows significantly less funding going towards the education sector, this could mean that less educational support may disadvantage the aging population, in the sense that workers in the healthcare sector (especially as mentioned in the executive summary, NDIS and aged care) could fail to meet the demands of the aging population.

The attraction and retainment of the workforce is reliant on the skills, training and wages provided. The lack of funding for education will not adequately prepare the next generation to provide much needed services, therefore adding pressure to the Australian economy that is funding the needs of the aging population.

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The government plans to increase spending in it's health sectors to address the ageing population which puts an increase demand on the public health services.
This will also create a demand for more jobs/service providers within this sector. However it is clear from chart 7.4 (page 146) that there will be a significant defiecit in education leaving gaps in learning to fill these in demand roles.

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The Government is supporting the delivery of more social and affordable housing and has a long-term plan to boost housing supply with states and territories (Planning for targeted and sustainable population growth p. 52). There will be a signifcant need for affordable housing as the population ages. In our current climate there is already a lack of affordable housing coupled with financial insecurity with rising rents for many older Australians. Ageing in place in one's own home with assisted home care will inturn alleviate the pressure on the residential aged care sector.

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Although there has been amelioration to fiscal position of Australia, GDP dept still remains' high putting spending pressure across the health sector. With the slower economic growth due to lower population growth and aging population creates a rising demand for care and support services. Australia’s capacity to meet those challenges while seizing future opportunities depend on today’s decisions.

Technology and continuous digital transformation are expected to raise incomes and standards of living. These technological advancements have the possibility to create new life saving drugs and surgical procedures..., but the challenge here will be to manage the transitions and risks associated with change.

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Throughout the Intergenerational Report 2023, Population Ageing is described as one of the biggest forces that is shaping Australia's current and future economy.

With the population ageing, government-funded services are required for a longer period of time per-person, creating an "ongoing economic and fiscal challenge" (Executive Summary, p. viii) for Australia to deal with for years to come.

This issue will in turn cause a higher demand for care and support services, as well as for resources poured into technological advancements, to try raise the quality of life for Australia's ageing population over the next 40 years. Almost a domino effect caused by this people living longer, and healthier lives. Kind of ironic.

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The ageing and slower-growing population in Australia is leading to increased demands for healthcare services and advancements in geriatric medicine (Australian Government, 2023, p. xi). This is likely to create opportunities in new fields of clinical research and treatment, specifically in the fields of longevity and healthy ageing.

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The Intergenerational Report 2023
The Demographic ageing alone is to estimate to account for around 40% of the increase in government spending over the next 40 years.
If your refer to the graph (page 146) it indicates the funds are going to age pension, aged care, total health & other income support networks, however, there is  not allot of funds going towards education.
We are struggling to get workers to assist in aged care facilities now, so does that mean in the next 40 years this will be worse?

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Whilst the Intergenerational Report 2023 has concentrated on the fact that over the next 40 years the population of people aged above 65 will rise to 23.4% (page 46) it has not addressed how it will work towards halting the decline of rapidly dropping fertility rates. The fertility rates of women were also mentioned but not of men. This lack of data or further mention of investigation is a major concern.

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The Intersection of Technology and health
The Intergenerational report lists ‘Technology and Digital Transformation as a major force that is influencing the shaping of The Australian Economy (The Treasury, 2023, viii). We need to be asking how we can use technology to improve health outcomes for individuals such as services treatment options in conjunction with the big picture of how technology can be used to improve community health outcomes and economic impacts.

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According to the Intergenerational Report (The Treasury, 2023, p.xiv), health is one of the Australian Government’s top five payments that are expected to increase in the coming decades. The expected increase is attributed to the ageing population and although advances in health treatments are beneficial, the rising cost of research and development of new technologies is also a contributing factor.

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Issues Ive noticed so far:
Aging population - requiring more government support (aged care services).'
(The Treasury, 2023, pxvii)

According to Intergenerational Report 2023 - government plans on investing to strengthen Medicare, funding better pay for aged care workers, established the NDIS review, and introdu
cing stronger standards for care.

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Hi everyone,

Please post some of the issues or trends you have noticed so far. Please put your name as the title or sign into Padlet. Looking forward to reading them!