Health is wealth, so where's the investment?

There are many reasons people move to this magnificent region. A lack of healthcare services is one of the few reasons they leave. 

Many of Forsyth Barr’s clients are in the older demographic and Central Otago has a much higher proportion of over 65s than the national average. They have worked hard to get to where they are, they’ve stuck to their financial plan, and they’re ready to enjoy the fruits of their labour, but, increasingly, we’re finding they are nervous about the future and aren’t sure if they’ll be able to get the right kind of care.  

Some have been forced to shelve their retirement plans entirely and move back to the cities from where they came, while others with the means have invested in properties closer to bigger hospitals, or stumped up for private nursing. 

There is no specialty care for illnesses like dementia or Parkinson's in the region; those with high-risk pregnancies are often not able to stay in their hometown to give birth; if you ring the ambulance in Wānaka, there’s only ever one crew available, and there’s no doctor available from 11pm to 7am; and at Lakes District Hospital, it is not uncommon to have just one consultant and one or two nurses working overnight. 

The disestablishment of district health boards in 2022 made sense, but some of the old parochial lines remain and we are stuck with an inefficient collection of satellite offerings created for different towns, rather than a well-planned system for one of the country’s fastest growing regions. 

Economist Benje Patterson said recently that if “historical growth rates continue, then Inland Otago will have a larger population than Dunedin by 2039”. It’s important to remember that the Government has consistently underestimated the popularity of this region, so it could come sooner than that. 

It’s good to know there will (eventually) be a new (smaller) hospital in Dunedin, but having to drive for three hours to access it is not sustainable, fair or productive. If we look 10 or 15 years ahead, there could be 200,000 people living in the region, but we have not seen anything to suggest there will be a proportionate investment in public health services. 

It may seem a bit rich, quite literally, to be asking for more money to be funnelled into one of the least deprived areas in the country. Many of those who can afford to live here can also afford private healthcare and where there are gaps in the public system, the private sector tends to see opportunities. 

Roa Healthcare is planning a large $300 million health facility in Wānaka. This is good for the locals (just as the arrival of Pacific Radiology at the private hospital in Queenstown was beneficial), but if things were being centrally planned it’s unlikely it would be built there. 

The aged care sector is also filling some gaps in the healthcare system - but, again, that is reserved for those who can afford to access it. 

We cannot leave decisions about health infrastructure to commercial interests. 

We cannot limit healthcare to those who can afford to go private. 

We should not be relying on charitable trusts to run our ambulances, helicopter rescue services or our two regional hospitals. 

And we also should not be relying on an occasional clinic timed for a long weekend that’s run by specialists who have holiday homes in the area, something that has long been common in this region. 

Despite the challenges our healthcare system is facing, a recent report put New Zealand above Switzerland, France, Sweden, Canada, Germany and the US in terms of the sector’s overall performance and that’s worth remembering. Those working in the healthcare system also deserve praise and are often attracted to it due to their strong sense of purpose.  

But things can always be improved and, just as we aim to give our clients peace of mind by thinking about their future needs, a health system that is designed for the region’s future needs would offer peace of mind to those who have chosen to move here - and those who may be considering it. 

To talk investment - either for yourself or the region – get in touch with us at Forsyth Barr Investment Advice Central Otago on 03 443 2980.