Impact of Ageing Population on Healthcare in Australia: MBA622 Report

This report provides a comprehensive analysis of the ageing population in Australia and its significant impact on the healthcare sector. It begins by highlighting the demographic shift towards an older population and its implications, including reduced workforce, increased healthcare costs, and economic challenges. The report then delves into the specific challenges and opportunities faced by the healthcare industry, such as worker shortages, reduced capital investment, and a lack of competencies. It examines stakeholder perspectives, including concerns related to aged care and the need for ethical considerations. The report also outlines challenges like lack of infrastructure, social support, and economic dependency, while also presenting opportunities such as creating a diverse workforce, mitigating future demand, and providing economic benefits. It emphasizes ethical responsibilities in relation to aged care, including supporting diversity, upholding rights, and promoting well-being. Finally, the report offers strategic recommendations, including increased resources, governmental leadership, and financial support, to address the challenges and leverage the opportunities presented by the ageing population.

Ageing population

Issues of ageing
population
The aging population in Australia is becoming a severe issue
in people lives and the population becomes elder, which are
the most substantial demographic events in the country
nowadays.
This issue is not limited to the country to city as it is an
international concern involving Australia and other countries
also (McCann, 2017).

Developed industrialized societies are growing
older
 It is stated that societies are growing older, which is significantly a major issue
in Australia.
 It apparently means that there is a very less number of working-age people in
the country.
 This also leads to a decrease in productivity, reduced international
competitiveness, increase in the cost of health care, and expansion of the
business (North and Fiske, 2015).

Impact of an ageing population on aged health
care industry
 It is stated that the ageing population is
influencing the health care sector and
presents many challenges to government
spending, labor market, government tax,
and the whole economy.
 It can cause a straight impact on the
growth of the expenditure on health by
influences of resource and additional
health (Wright, 2015).

Cont..
1. Shortage of workers –
 It is stated that an ageing population in Australia could lead to a shortage
of personnel and probably push up wages producing wage inflation.
 However, they have to also face financial pressure as the business is
growing over the past few years, which is to be constant so as elderly
population maintaining demand for its facilities (Radford, Shacklock and
Bradley, 2015).

Cont..
2. Reduces capital investment –
 It is stated that the ageing population reduces the capital investment
of the country.
 Higher savings for pensions might decrease capital investment of the
country.
 It is now transforming into a major problem as it is influencing the
entire economy, which creates a misbalance in growth and
productivity of the country (Deeming and Smyth, 2015).

Cont..
3. Lack of competencies-
 It is stated that Australia is growing in every possible sector,
which is growing in every sector also involves ageing population
as the elderly population providers deal with various issues
related to the lack of competencies in the health care industry.
 This leads to a decrease in economic development and income
for young personnel (Wanberg et al., 2016).

Stakeholder perspective
 Various stakeholders stated concerns
related to the approach towards the
consciousness of elderly care people.
 Those specific matters are raised, which
are associated with the segment where
the lack of knowledge and belief of the
older care interventions as they have
negative perspectives towards these
people in the industry (Lopes et al.,
2016).

Cont..
 There is an associated exposure for healthcare as the
stakeholders’ faces challenge as social and financial
challenges as it will cause a widening effect on productivity
and an immense burden on taxation of the working
population.
 They also suffer increased rates of mortality and morbidity,
which attributed various scopes of complexities (Hu et al.,
2015).

Challenges and opportunities
The challenges, which are faced as-
 Lack of Infrastructure
 Lack of Social support
 Economic Dependency (Skinner, Cloutier and Andrews, 2015).
Opportunities-
 They should make a more diverse workforce.
 They should mitigate future development demand to safeguard the
quality of life in this segment of the population.
 They should make a positive contribution and deliver potential and
substantial economic benefits (Baig et al., 2017).

Cont..
1. Lack of Infrastructure-
 The lack of infrastructure is another
challenge that is constantly developing in
Australia as various elder people will need
better access to infrastructure in the future.
 Lack of physical infrastructure is a main
preventive factor to give comfort to the
elderly people. They also need to get
proper homes to spend their lives in a
peaceful manner (Menec et al., 2015).

Cont..
2. Lack of Social support-
 The lack of social support is another
challenge or issue that is experienced by
elderly people in the health care sector and
providers of Australia.
 It is stated that people in Australia are
more self-dependent and vulnerable due to
less spending on social security framework
and modernization in the industry (Frost,
Meyer and Schwartz, 2016).