Outcome
Unfortunately, the soaring rise has painfully impacted many businesses, putting heavy pressure on business success. Consequently, this impacts business competitiveness and their economic choices because they will struggle to reach profitability, and also the public sector budgets.
Stakeholders are affected by the high costs such as doctors, which receive a higher wage, and a lot of money is spent on planning or managing these services. These doctors have an average of 78% higher wages compared to other countries. Furthermore, the government is affected as they would possibly lower tax rates for consumers to improve their welfare, but also they would have to provide subsidies to improve production and consumption.
“the insurance and healthcare is essential for your mental quality of life, whether you use it or not.”
The high cost can encapsulate how the economy is suffering as a whole including federal budgets and welfare. For the economic activity of health services, there would be an opportunity cost for producing these health facilities which are the maximisation of public sector fundings for education, gas and fire and infrastructure ( reduced from the current 44% to 33% spendings).
https://www.biozonescientific.com.au/healthcare-facilities
https://www.mercatus.org/system/files/healthcare-costs-us-oecd-analysis-pdf.pdf
Year 11 MHS Economics 2020 
very informative and relevant, vincent
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