THEME 4: - DAY 1 - 16 October 2019 - SESSION: CHANGING NATURE OF THE PRIVATE MEDICAL SECTOR – AN OVERVIEW OF THE EMERGING TRENDS OF COMMERCIALISATION & CORPORATISATION IN THE HEALTHCARE SECTOR
The moderator opened the session speaking about the transnational linkages that fuel the process of commercialisation and corporatisation of healthcare. Healthcare sector did not suffer impact by the global economic crisis of 2008-09. Market based healthcare remains unaffected by economic slowdown as market principles of demand and supply do not apply. Healthcare companies extract money and exploit not just patients, but also healthcare workers. In South Asia, Asia and Africa there is a culture of no unionisation. This allows for low wages and other forms of exploitation. Data shows that percentage of tax on income of large healthcare companies hovers around 7 percent of total income. This is much lower than what they are expected to pay. Tax injustice not only contributes to strengthening power of companies in healthcare but also weaken the ability of the government to collect revenues and therefor invest into the public sector. The moderator called upon the panelists to make the presentation.
