Health is wealth: HK government sets aside HK$45 billion for healthcare

A Samaritan Fund of HK$10 billion will help ease spending on essential drugs and other medical items.

At the Hospital Authority Convention 2012, Financial Secretary John C Tsang emphasized the Hong Kong government's commitment to healthcare. 

A total HK$2.2 billion will be used for expenditure on hospital projects and another HK$500 million to acquire and upgrade medical equipment for public hospitals.

"Over the years, Hong Kong has developed a highly efficient and effective healthcare system. For more than two decades, the HA has been instrumental in raising the quality as well as the availability of affordable healthcare to the entire community," said Financial Secretary Tsang.

He continues by saying, "Fortunately for us, despite the recent global economic downturn, Hong Kong and much of Asia is in fairly good financial health.

The Hong Kong Government has made it a priority to boost healthcare spending and introduce new initiatives to tackle the challenges that we can foresee for the next decade and beyond."

Budget allocation

Close to HK$45 billion is set aside for healthcare spending in the 2012-13 financial year. This represents an increase of over 40 per cent compared to six years ago. Recurrent funding allocated to the HA has also increased by around 40 per cent over the same period to HK$40 billion.

HK$2.2 billion has been allocated for expenditure on hospital projects, and another HK$500 million to acquire and upgrade medical equipment for public hospitals.

A number of public hospital development projects are underway to help improve healthcare services across Hong Kong. Projects to be completed in the next few years include a new hospital in North Lantau, three redevelopment projects involving Yan Chai, Caritas Medical Centre and Tseung Kwan O Hospitals. Funding has also been reserved to re-develop United Christian, Queen Mary and Kwong Wah Hospitals.

These and other projects represent a significant financial commitment to the healthcare of Hong Kong people in the future, he says.

Easing the cost of medication

As the cost of healthcare increases, HK$10 billion will be provided to the Samaritan Fund to help ease the financial burden on patients by providing subsidies for essential self-financed drugs and medical items.

Financial Secretary Tsang ends the speech by connecting with rest of the medical community, "I have just mentioned some of the ways the Government is mobilising its financial resources to help meet anticipated healthcare challenges of the future. We also know that money alone is not enough to overcome the hurdles facing long-term healthcare provision for the community. This will require a team effort from all stakeholders, many of whom are represented here at this Convention, and your ideas and experience will benefit not only Hong Kong, but also communities around the world which face many of the same challenges and share very much the same goal of enhancing healthcare."

The Hospital Authority Convention 2012 opened May 7 at the Hong Kong Convention and Exhibition Centre.