Centre for the Health Economy Launched at Macquarie University

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Macquarie University has launched a new research, advocacy and educational body, the Centre for the Health Economy to make it easier for health-related industries to access data across the whole health sector.
The health industry is one of Australia’s largest sectors. At $1.21 billion, it represents 8 per cent of Australia’s GDP and employs 11 per cent of the population, a figure estimated to increase to 20 per cent by 2025.  This growth is creating an emerging market in healthcare with new suppliers, new funding models, workforce arrangements and impacts on needs and society.
The new Centre will provide research to public and private organisations that will help in understanding the sector-wide impacts of intersecting research, technologies, systems, people and processes involved in the business of health.
Professor Mark Gabbott, Executive Dean of Macquarie University’s Faculty of Business and Economics, says the Centre for the Health Economy will also play a role in shaping health policies by providing independent recommendations to government through creating community dialogue and debate around key health issues for Australia.
“For the first time health-related industries will be able to access data that looks at how new health innovations can create knock on effects into different health industries, like service suppliers, pharmaceutical companies, health insurance providers and healthcare organisations,” said Professor Gabbott.
The Centre for Health Economy has already undertaken a joint research project with the Australian Self Medication Industry looking at the role of self-care in driving better healthcare outcomes for Australians and how it plays a role in preparing for a more sustainable healthcare system.
Professor Janet Greeley, Executive Dean at Macquarie University’s Faculty of Human Sciences, said the first two cornerstone studies the Centre will undertake will be on the National Disability Insurance Scheme looking at issues like future workforce, governance and education and e-health and connected care.
“The Centre will bring together all areas of health including disability, aging, community care, health insurance as well as e-health and mental health. So far we’ve received a great deal of support and interest from numerous health industry bodies and commercial organisations for the new Centre,” said Professor Greeley.
The new Centre for the Health Economy will be officially launched today (Thursday 5 December) in Sydney by ASX Chairman, Rick Holliday-Smith.
For more information on the Centre for the Health Economy visit http://health-economy.mq.edu.au