Annual spending on health in Bermuda rose from about $7,000 per person in 2007 to more than $11,000 in 2013, according to newly released figures.

Bermuda Health Council released its National Health Accounts Report 2014 this morning, showing an increase in per capita health spending of almost 60 per cent over the six-year period.

The document reveals that health expenditure on the Island does not compare well in terms of affordability to the 34 countries in the Organisation for Economic Co-operation and Development (OECD).

It states that in the fiscal year ending in March 2013 (FYE 2013), health spending in Bermuda reached 12.7 perc ent of the country’s gross domestic product (GDP) — compared with the OECD average of 9.3 per cent.

Other key findings in the report include that:

• Bermuda’s total health spending for FYE 2013 was $705 million;

• Local hospital use accounted for 44 per cent of total health spending;

• Overseas care accounted for 14 per cent of total health expenditure ($101.1 million);

• Private, local health providers accounted for 21 per cent of total health expenditure;

• Total health spending increased 5.2 per cent from FYE 2012, when expenditure had remained flat from 2011 at less than $700 million in total or about $10,500 per person;

• The rise in total health costs and Bermuda’s declining population combined to produce an overall per capita health spending growth rate of 8.2 per cent from FYE 2012 to FYE 2013;

• Life expectancy in Bermuda is lower than in many OECD countries, such as Canada, Australia, Luxembourg, the United Kingdom and Portugal, despite them spending less per capita on health.

The report says: “Health costs have been increasing in many countries and Bermuda has exhibited the same general trend.”

It adds: “The persistently high expenditure on health, despite the decline in nominal GDP, indicates the relative resilience of health expenditure to changes in economic conditions.

“In particular, given that Bermuda’s share of health expenditure to GDP is high compared to OECD countries and that Bermuda’s health expenditure per person is high relative to life expectancy, it will be an important challenge for the country to control this trend while maintaining quality of care and quality of life.”

Jennifer Attride-Stirling, chief executive officer of Bermuda Health Council, said the report enabled the Island to track trends in health spending across time and to benchmark Bermuda to other countries.

“We are unique among many small island states in being able to produce such accounts. This year’s findings show that health costs continue to rise and highlight that recent declines in population have had a negative impact on per capita health costs.

“The report also indicates that over one in seven Bermuda healthcare dollars are exported overseas annually, while spending on local private providers declines. The Health Accounts findings provide a significant evidence base to inform policy initiatives to control health costs in Bermuda.”