Equity is a value in the Danish healthcare system, and healthcare is an important part of its welfare system, resulting in a heavily financed public funds system, experiencing little inequality. But most of all Denmark has, long before others, realized the need to rethink its health system, and has radically transformed it to make it financially sustainable for the multiple challenges ahead, turning it into a more effective system than other developed countries, such as the U.S. and other European countries.
Denmark, officially Kingdom of Denmark, is just a small country of 5.8 million inhabitants and a high standard of living. Its per capita gross national product is among the highest in the world, with well-developed social services. The economy is based primarily on service industries, trade, and manufacturing; only a tiny percentage of the population is engaged in agriculture and fishing. Small enterprises are dominant. In the healthcare industry, many local manufacturers possess fair shares in the global market. They specialize in the production of hearing aids, diagnostics, orthopedic and prosthetic devices. Denmark is also home to major companies in the medical device, biotech, and pharmaceutical industries.
About 90% of the local production is exported.
In its mixed welfare-state economy, private sector expenditures account for more than half of the net national income. Public expenditure is directed primarily toward health and social services, education, economic affairs, foreign affairs, and national defense. The government does not have significant commercial or industrial income. War in Ukraine has, in short time, become a new and destabilizing factor in both the Danish and global economy. Even if Danish economy is generally robust (its precovid GDP growth was +2.1%, World Bank 2019 data), and able to manage new challenges, it is expected to enter a pause in growth or, even, risks a fall in activity.…READ MORE
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