Citi Private Bank

Browser Requirement

To best view Citi Private Bank's site and for a better overall experience, please update your browser to a newer version using the links below.

System Outage
Citi Private Bank logo

Language Notification

Please be advised that future verbal and written communications from the bank may be in English only. These communications may include, but are not limited to, account agreements, statements and disclosures, changes in terms or fees; or any servicing of your account.

Por favor, tenga en cuenta que es posible que las comunicaciones futuras del banco, ya sean verbales o escritas, sean únicamente en inglés. Estas comunicaciones podrían incluir, entre otras, contratos de cuentas, estados de cuenta y divulgaciones, así como cambios en términos o cargos o cualquier tipo de servicio para su cuenta.

Informamos que as futuras comunicações do banco, verbais e escritas, podem estar disponíveis apenas em inglês. Essas comunicações podem incluir, entre outras, acordos de conta, extratos de conta e divulgações, alterações aos termos ou tarifas, ou qualquer tipo de serviço pertinente à sua conta.

仅此通知,本行即日起发出的口头及书面通信可能将只提供英文版本。这些通信可能包括但不限于账户协议,账单和通知,条款或费用变更;或任何为您账户提供的服务。

Please be advised that future verbal and written communications from the bank may be in English only. These communications may include, but are not limited to, account agreements, statements and disclosures, changes in terms or fees; or any servicing of your account.

Por favor, tenga en cuenta que es posible que las comunicaciones futuras del banco, ya sean verbales o escritas, sean únicamente en inglés. Estas comunicaciones podrían incluir, entre otras, contratos de cuentas, estados de cuenta y divulgaciones, así como cambios en términos o cargos o cualquier tipo de servicio para su cuenta.

Informamos que as futuras comunicações do banco, verbais e escritas, podem estar disponíveis apenas em inglês. Essas comunicações podem incluir, entre outras, acordos de conta, extratos de conta e divulgações, alterações aos termos ou tarifas, ou qualquer tipo de serviço pertinente à sua conta.

仅此通知,本行即日起发出的口头及书面通信可能将只提供英文版本。这些通信可能包括但不限于账户协议,账单和通知,条款或费用变更;或任何为您账户提供的服务。

Remedies for painful healthcare costs

Perspectives

Remedies for painful healthcare costs

Philip Watson

By Philip Watson

Head of Global Investment Lab and Chief Innovation Officer for the Private Bank

February 18, 2016Posted InInvestments and Equities

According to the old saying, you can’t put a price on your health. For society as a whole, though, we can certainly put a price on the provision of healthcare.

And that price is already painfully high and rising. In the US, total national healthcare spending hit US$2.9 trillion in 2013. That works out as more than US$7,500 for every American citizen, as the accompanying chart shows.

While healthcare spending is highest in the US, this isn’t just a US issue. In countries the world over, the costs of treating illness are straining governments’ budgets and patients’ pockets. This could worsen further still over the coming years, especially in developed nations. According to the United Nations, the number of people over the age of 60 globally will more than double between 2015 and 2050. And more elderly people will mean even greater demand for healthcare.

Put simply, healthcare costs could be one of the biggest challenges facing society in the twenty-first century. But we believe that advances in medical technology could offer some much-needed relief to the chronic ailment of high and rising costs. And we see particular areas of innovation that could benefit both patients and healthcare systems but also potentially investors.

Biosimilars are cheaper lookalike versions of some of today’s most effective but expensive big branded drugs. While still in their infancy, biosimilars could create savings of around 50% on biological drugs for western healthcare budgets by 2015, according to Citi Research. At the same time, improved technology could cut the cost of healthcare administration, as well as of monitoring patients’ conditions remotely via smart-watches and the like.

Despite the potential of these and other innovations, we do not believe that investors have fully grasped the magnitude of the changes underway in the healthcare industry. This is part of the thinking behind Transforming Healthcare, one of our key themes for 2016. You can read more about these transformative technologies and some of the investment possibilities here.

Remedies for painful healthcare costs