Our Impact
An economic case for investment in Women’s Health Services
The Victorian Women’s Health Services have released a report to better understand and describe their broad economic contribution to Victoria and to assess the importance of the ongoing investment from the Victorian Government in their services.
Commissioned by the sector and written by Impact Economics, and entitled Return on Equity - Health and economic dividends from investing in Women's Health Services, the report was launched on the 23rd of November 2023, in preparation for the 2024 Victorian Government Budget.
It is a landmark report that describes the value and return to all of the Victorian community, that sustained resources and funding deliver, and, reveals the long-term economic benefits of investing in women's health, from reducing cost pressures on the healthcare system to improving workforce participation.
The report considers the value that Women’s Health Services provide to Victoria and finds that the Services have directly and indirectly contributed to Victoria’s superior performance across a range of outcomes, with significant benefits to the economy and health system including:
Less women experiencing violence
Almost 22,000 fewer women experienced physical and/or sexual violence each year because of Victoria’s lower prevalence of violence against women than the national average. This has resulted in economic cost savings of $600 million a year. The cost savings over a lifetime are almost $8 billion.
Fewer teenage pregnancies
There were over 500 fewer teenage mothers in Victoria in 2021 because of Victoria’s lower rates of teenage pregnancy than the national average.
Healthcare cost savings
Healthcare costs of $1.4 million have been saved in 2022 because of Victoria’s lower rates of three sexually transmitted infections (chlamydia, gonorrhoea, and syphilis) among women. By promoting early detection and prevention, women's health services reduce the financial burden on the healthcare system and mitigate the costs associated with treating advanced health conditions. This approach not only benefits women but also eases the strain on healthcare budgets.
Mental health benefits
While rates of mental ill-health are influenced by a wide range of factors, actions that prevent long-term mental ill-health would have annual benefits of about $100,000 per person. Even a 0.5% reduction in the number of women suffering long-term mental ill-health would have economic benefits of $178 million.
About the Report
The report uses a variety of research methods, including a literature review, economic modelling and the use of case studies from existing research to demonstrate the value of the work that is currently being undertaken by Women’s Health Services across Victoria. Impact Economics have adopted a nuanced approach to gender and sex descriptions in this report, depending on the data and context we are referring to. References to women are representative of all women, including cisgender (cis) women, transgender (trans) women and also may include people assigned female at birth.