She could change the
future of health care

But she’s not a doctor.

The health care system is evolving. Actuaries specialize in statistics, predictive modeling and risk mitigation. They can help you make better decisions for Canada’s future.

Get a second opinion

The question of how to fund and contain growing health care costs is the topic of significant discussion in Canada. Potential solutions are put forward, such as the National Pharmacare Plan (NPP), but many important variables still need to be considered before the debate can be settled.

Two things are clear, however — that the current model is not a viable long-term option, and that actuaries can play a key role in planning for the future by helping highlight and mitigate the financial risks associated with an aging population, increasing demand and evolving treatments.

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Projecting the evolution of health care

Canada currently ranks as the 5th most expensive OECD country in terms of per capita health care expenditures — and the numbers will only go up. Take a look at the projected evolution of health care expenditures by provinces/territories over a 25-year period based on historical trends.

Source: Sustainability of the Canadian Health Care System and Impact of the 2014 Revision to the Canada Health Transfer report

Latest (2012) $134B total health care expenditures
 
 
 
 
 
 
 
 
 
 
 
 
 
 
= $10B
Future (2037) $467B total health care expenditures
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
GDP dedicated to health care
 
8.2%
GDP dedicated to health care
 
18.9%
Latest (2012) Total available revenues used
44%
Future (2037) Total available revenues used
103%

The power to change
tomorrow today

Actuaries use specialized knowledge of finance, statistics and risk theory to find solutions to complex challenges that Canada will face in the future. New Brunswick has taken the promising step of engaging actuaries to conduct a provincial health care study. More proactive action at the provincial and national level is needed if we are to make a significant impact on health care moving forward.

Learn more

Ask a specialist

Do you have a complex health care or related issue that an actuary could help you solve? Send your questions using the field below. The CIA will either respond directly or arrange to get an answer from an individual with the requisite expertise.

The latest insights from the CIA

#Actuaries 
found that without #government 
intervention the current #healthcare 
system is not sustainable: http://bit.ly/CIAhealthcare 
#CdnHealth  

Actuaries get the facts to help organizations plan for a better future. More: 
http://bit.ly/CIAhealthcare 
#CIAhealthcare

Learn the benefits of involving actuaries in healthcare planning: 
http://bit.ly/CIAhealthcare 
#CIAhealthcare 
#Cdnhealth 

Financial stability
for Canadians

The Canadian Institute of Actuaries (CIA) is the national organization of the actuarial profession. Member driven, the Institute is dedicated to serving the public through the provision, by the profession, of actuarial services and advice of the highest quality. In fact, the Institute holds the duty of the profession to the public above the needs of the profession and its members.

See what drives us