Page 35 - GHES-2-3
P. 35

Global Health Economics and
            Sustainability
                                                                             Innovating sustainable specialized healthcare


            in the form of hospital beds, physiological monitors, and   a pervasive lack of societal trust (Powell, 2010) undermine
            ventilators instead of cash. External funding agencies are   Jamaica’s fund of social capital and represent hurdles to
            generally less comfortable making sustained investments   success.
            in business models in developing countries, preferring
            one-off charitable donations. Local investors are more   4.3. Factoring in the rapid change in health
            likely to understand the local context and the cultural and   technology
            logistical intricacies that might deter foreign entities.  The rapid integration of technological advances into
              Corruption is  defined as  the  misuse  of public  office,   healthcare includes telemedicine platforms and a host of
            public resources, or public responsibility for private –   digital endpoints for improving individual and population-
            personal or group – gain (Szeftel, 2000). Studies have   based health. Many of these advances, supported by
            estimated that the cost of corruption is akin to a 20%   artificial intelligence, will find applications in LMICs.
            regressive tax that foreign investors must face (Christie,   These technologies are not only capable of improving care
            2017). Jamaica has improved its standing, ranking 44  out of   quality, safety, and efficiency but, although initially capital-
                                                     th
            180 countries (1  being Denmark) in the 2022 Corruption   intensive and time-consuming to integrate, can ultimately
                         st
            Perceptions  Index  of  Transparency  International  (2022).   be cost-saving (Ali & Clarke, 2023; Ali et al., 2021).
            Ultimately, the  impact of  corruption is  to  increase  the
            cost of any endeavor, including philanthropic efforts. This   5. Putting it all together
            results in a lowering of social capital, which has profound   As presented in the GPEI information in Table 1, there is
            implications for health care.                      room for further improvement in Jamaica’s philanthropy.
                                                               In Jamaica and similar economies, the challenge is how
            4.2. Policy
                                                               to unite social entrepreneurialism or other models with
            Recurring changes to policies on health-care funding in   philanthropy in a way that motivates and incentivizes
            Jamaica over the past 25  years underscore the economic   funders. In contrast to traditional, hands-off charitable
            vulnerability of smaller democracies to the effects of   grants awarded to non-profit organizations, venture
            inconsistent policies. There is a great need for smaller   philanthropists generally enter into long-term relationships
            countries to achieve consensus on long-term directions   with social enterprises or non-profit organizations. They
            for  essential  services  such  as  healthcare,  which  should   believe  that  these  entities  can  benefit  from  sustained
            not be used politically as leverage for winning elections.   engagement, substantial financial investments, and
            However, in the past decade, an overall alignment on   strategic assistance. The investments in strategic assistance
            macroeconomic policies between the two major political   and capitalization are designed to build organizational
            parties has led to improvements in policy consistency.   systems and capacity (Van Slyke & Newman, 2006).
            Policies that make philanthropy more feasible have been
            and are being developed but need to be better known and   A Venn diagram visually positions these mechanisms
            used to mutual benefit. Under the Charities Act (Ministry of   for increasing healthcare funding in relation to the key
            Finance, 2013), there are 290 registered charities in Jamaica   primary concepts discussed previously (Figure 1).
            (Ministry of Finance, 2014b), some in healthcare. However,   6. Summary and conclusion
            there is a dearth of foundations in specialized health care.
            The poor performance of state-owned enterprises in general   Jamaica’s recent favorable economic growth trajectory,
            (Darcy & Russell, 2014) is emphasized by the International   improving educational metrics, greater employment,
            Monetary Fund’s report on Jamaica (IMF, 2015, p. 2), which   more leisure time, and greater access to information
            states that “.concrete efforts are needed to modernize the   through rapidly growing internet connectivity are leading
            public sector and improve the efficiency of public services.”   to greater expectations from its population for better
            This represents an opportunity, as consistently articulated   healthcare. From the perspective of Jamaica’s health-
            by Tufton, Jamaica’s current Minister of Health, for effective   care providers, young doctors and nurses continue to be
            PPPs to improve the quality and efficiency of healthcare and   drawn to North America. This is not difficult given its
            to facilitate innovations in specialized care in a sustainable   proximity, the large Jamaican diaspora in North America,
            way, driven by commercial levels of efficiency. Better   and the commonality of a shared language, English. This
            standards of corporate governance (Darcy & Russell, 2014)   continuing brain drain remains a challenge in scaling and
            and a fairly recently enacted document to support the role   improving Jamaica’s healthcare. Another growing challenge
            of PPPs in Jamaica (Ministry of Finance, 2014a) should   is the economic impact of climate change and the effects of
            make  these partnerships feasible.  However, old  habits,   more severe hurricanes and rising temperatures, as well as
            longstanding social inequalities, lack of accountability, and   direct impacts such as beach erosion, which have obvious


            Volume 2 Issue 3 (2024)                         7                        https://doi.org/10.36922/ghes.2717
   30   31   32   33   34   35   36   37   38   39   40