COVID-19: The need for an Australian economic pandemic response plan

Shannen Higginson; Katarina Milovanovic; James Gillespie; Andrew Matthews; Christopher Williams; Laura Wall; Naomi Moy; Madeline Hinwood; Adrian Melia; Francesco Paolucci

doi:10.1016/j.hlpt.2020.08.017

COVID-19: The need for an Australian economic pandemic response plan

Health Policy Technol. 2020 Dec;9(4):488-502. doi: 10.1016/j.hlpt.2020.08.017. Epub 2020 Aug 28.

Authors

Affiliations

¹ PhD Candidate (Economics), The University of Newcastle, Australia.
² Master of Economics (Econometrics), The University of Sydney, Director of Epione Advisory Pty Limited, Australia.
³ Associate Professor in Health Policy, Menzies Centre for Health Policy and The University of Sydney School of Public Health, Australia.
⁴ Principal and Actuary at Finity Consulting, Associate Professor at Monash University and Board Member at the Stroke Foundation, Australia.
⁵ Associate Professor at the School of Medicine and Public Health (Public Health), The University of Newcastle, Postdoctoral Research Fellow at the Hunter Medical Research Institute and Hunter New England Population Health, Newcastle, Australia.
⁶ Post-doctoral Research Fellow in Health Economics, Bachelor of Psychology, The University of Newcastle, Australia.
⁷ Research Fellow, University of Bologna, Italy.
⁸ Research Academic at the School of Medicine and Public Health, Doctor of Philosophy, The University of Newcastle, Australia.
⁹ Senior Lecturer Newcastle Business School, The University of Newcastle, Australia.
¹⁰ Professor of Health Economics & Policy at the Faculty of Business & Law, The University of Newcastle, Australia.
¹¹ The School of Economics & Management, University of Bologna, Italy.

Abstract

Objectives: Pandemics pressure national governments to respond swiftly. Mitigation efforts created an imbalance between population health, capacity of the healthcare system and economic prosperity. Each pandemic arising from a new virus is unknown territory for policy makers, and there is considerable uncertainty of the appropriateness of responses and outcomes.

Methods: A qualitative approach was used to review mixed sources of data including Australian reports, official government publications, and COVID-19 data to discern robust future responses. Publicly available epidemiological and economic data were utilised to provide insight into the impact of the pandemic on Australia's healthcare system and economy.

Results: Policies implemented by the Australian Government to mitigate the spread of COVID-19 impacted the healthcare sector and economy. This paper incorporates lessons learned to inform optimal economic preparedness. The rationale for an economic response plan concomitant with the health pandemic plan is explored to guide Australian Government policy makers in ensuring holistic and robust solutions for future pandemics.

Conclusions: In future, an Australian Economic Pandemic Response Plan will aid in health and economic system preparedness, whilst a strong Australian economy and strategic planning will ensure resilience to future pandemics.

Keywords: Australia; COVID-19; Economic impact; Health policy; Healthcare outcomes; Pandemic planning; Policy interventions.