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Sunday, December 5, 2021

Spain’s Public Investment in Digital Health Has Increased by 88.6%

FinTech Spain's Public Investment in Digital Health Has Increased by 88.6%

The General Secretariat for Digital Health, Information, and Innovation of the National Health System in Spain will receive $31 million (€26.8 million) from the General State Budget (PGE), which represents an increase of 88.6% over last year’s allocation. In 2021, the budget projected investment of $16.7 million (€14 million).

This body of the Ministry of Health, created in August 2020, deals with projects of modernization, innovation, improvement, and transformation of the National Health System (SNS) and has its origin in the outbreak of the pandemic. In particular, it is responsible for issues related to digital health and information systems.

In the 2022 budgets for this secretariat, the category of current expenditure on goods and services will receive $17.4 million (€15.1 million), a fivefold increase over the 2021 investment. This year, the material and supplies subcategory continues to take a large share of the pie with an item of $15.1 million (€13.1 million).

If you want to read more about the investments in digital health by the Spanish Government and to read the most important financial news of the day, download for free our companion app Born2Invest.

In 2021, the budgets projected an investment of $16.7 million (€14 million)

On the other hand, expenses arising from personnel remain at $9.6 million (€8.3 million). In the last budgets, the item was practically the same. The largest part of the economic volume, $8.2 million (€7.1 million), is again allocated to the salaries of civil servants.

Another item that is maintained, with respect to the PGE of 2021, are the current transfers to autonomous communities “for the improvement of the health information system of the National Health System (SNS)”.

This category has (€2 million) allocated to it. The remittance dedicated to real investments is the only one that presents a setback with respect to the last budgets. In 2022, $1 million (€879,140) will be allocated to this item, which represents a 0.7% decrease in investment.

On a general scale, $6.27 billion (€5.43 billion) will be allocated to healthcare, which translates into an increase of 11% over the previous year

According to the head of Telemedicine Research at the Carlos III Health Institute (ISC III), Adolfo Muñoz, the NHS is more prepared to face digitalization and the arrival of the pandemic has accelerated this process: Spain was suffering from shortcomings and now they can be solved by taking advantage of the crisis that has arisen from the pandemic.

On a general scale, the Government will allocate $6.27 billion (€5.43 billion) to healthcare, which translates into an increase of 11% compared to previous budgets. In this sense, the Executive has included in the PGE an item of $581 million (€503 million), which will be allocated to the renovation of the SNS. In addition, care for the elderly and other dependents recorded an increase of 23.3%. The budgets include an item of more than $46 billion (€40 billion) for investment and capital transfers and include the $32 billion (€27.6 billion) that Spain is entitled to receive from European funds.

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(Featured image by geralt via Pixabay)

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This article may include forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “become,” “plan,” “will,” and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this article and on this site. Although the Company may believe that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof. Additionally, please make sure to read these important disclosures.

First published in PlantaDoce, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.

Although we made reasonable efforts to provide accurate translations, some parts may be incorrect. Born2Invest assumes no responsibility for errors, omissions or ambiguities in the translations provided on this website. Any person or entity relying on translated content does so at their own risk. Born2Invest is not responsible for losses caused by such reliance on the accuracy or reliability of translated information. If you wish to report an error or inaccuracy in the translation, we encourage you to contact us.


Source link – born2invest.com
Author: Eva Wesley, Biotech – Born2Invest

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