In this article, we will look at the 15 countries that have the best doctors in the world. We will also look at the latest trends in the healthcare industry. If you want to skip our detailed analysis, head straight to the 5 Countries That Have The Best Doctors in the World.
Rooted in a humanitarian ethos, healthcare work is often equated with selfless dedication to reducing suffering in the world; therefore, healthcare professionals' jobs continue to be one of the most respected professions in the world. However, globally, the World Health Organization (WHO) has estimated a shortage of 4.3 million physicians, nurses, and other health workers worldwide] especially in many developing countries. To read more about shortages, check countries that need doctors in 2023.
Despite being a difficult job with severe shortages, doctors have one of the highest salaries in the world. It is also worth mentioning that Patrick Soon Shiong is the richest doctor in the world.
Are Pharmacists the New Doctors?
Owing to the physician shortages, major retailers like Walmart Inc (NYSE:WMT), Walgreens Boots Alliance Inc (NASDAQ:WBA), and CVS Health Corp (NYSE:CVS) are capitalizing on new state laws, offering expanded healthcare services typically found in doctor's offices. Walmart Inc (NYSE:WMT)’s pharmacists in 12 states now provide testing and treatment for strep throat, flu, and COVID-19. Walgreens Boots Alliance Inc (NASDAQ:WBA) plans to offer a similar service across 13 states, while CVS Health Corp (NYSE:CVS) pharmacists, in 10 states, evaluate symptoms and prescribe flu antivirals and cough suppressants, excluding tests. This expansion is facilitated by recent state laws allowing pharmacists to treat minor ailments, with 44 bills becoming law in 2022. Speaking of pharmacists, check out our article about the highest paying countries for pharmacists.
However, the push for broader pharmacist roles faces resistance. The American Medical Association argues pharmacists lack the necessary education and training, and the Centers for Medicare and Medicaid Services don't currently recognize them as providers for the services offered by these retailers. While legislative efforts may change this, out-of-pocket costs for services at Walmart Inc (NYSE:WMT), such as a $70 assessment and tests costing between $59 and $88, raise questions about affordability and accessibility for consumers.
It is worth mentioning that Walmart Inc (NYSE:WMT) is also one of the best retail stocks to buy now.
AI Revolution in Healthcare: Biggest Healthcare Trend in 2023
While we know AI has been revolutionizing several industries, AI’s ability to automate medical documentation has recently been a groundbreaking development in natural language processing for the healthcare sector. Researchers from NVIDIA Corp (NASDAQ:NVDA) and the University of Florida have developed an AI tool that mimics doctors' notes with the name of GatorTronGPT. In a proof-of-concept study, physicians struggled to distinguish notes written by human professionals from those generated by GatorTronGPT, accurately identifying the true writer only 49% of the time. The model is based on the GPT-3 architecture and has gained popularity with over 430,000 downloads on Hugging Face. GatorTronGPT's training involved extensive datasets that combined health-related records from two million patients and 82 billion medical terms. However, despite the exceptional potential of AI in healthcare, doctors will continue to have jobs artificial intelligence can never replace.
Speaking of NVIDIA Corp (NASDAQ:NVDA), it is worth mentioning that the company has made major contributions to healthcare through the launch of the MONAI cloud APIs. This hosted cloud service facilitates the development of medical imaging AI. Announced at the RSNA meeting, these APIs enable developers and platform providers to integrate AI into medical imaging solutions using pre-trained models and workflows. The MONAI cloud APIs feature interactive annotation powered by the VISTA-3D foundation model that enhance AI model performance over time through continuous learning. Additionally, Auto3DSeg automates hyperparameter tuning for 3D segmentation tasks.
By collaborating with Genentech, NVIDIA Corp (NASDAQ:NVDA) has also transformed drug discovery through artificial intelligence. By optimizing Genentech's proprietary algorithms with the aid of NVIDIA Corp (NASDAQ:NVDA)’s DGX Cloud and BioNeMo platform, the collaboration aims to accelerate the identification of potential drug molecules, ultimately expediting the development of new therapeutics. Moreover, NVIDIA Corp (NASDAQ:NVDA)’s BlueField-3 SuperNIC represents a leap forward in AI cloud computing. With 400Gb/s network connectivity for GPU-to-GPU communication, this technology ensures peak efficiency in AI workloads.
On the other hand, Teladoc Health Inc (NYSE:TDOC) has announced an expanded collaboration with Microsoft Corp (NASDAQ:MSFT) to address the looming healthcare workforce crisis. By integrating Microsoft Azure OpenAI Service, Azure Cognitive Services, and Nuance Dragon Ambient eXperience (DAX) into the Teladoc Health Inc (NYSE:TDOC)’s Solo platform, the companies aim to automate clinical documentation during virtual exams. This was done in response to the US Department of Health and Human Services' prediction of a nationwide shortage of 90,000 physicians by 2025, exacerbated by burnout linked to electronic paperwork. According to the American Medical Association, physicians currently spend two hours on administrative tasks for every hour of patient care. The integrated solutions aim to alleviate administrative burdens, allowing clinicians to focus more on patient care.
Nuance DAX will automatically document patient encounters, enhancing the quality of shared medical information. The collaboration also includes using Nuance DAX Express, a workflow-integrated, AI-powered clinical documentation application, leveraging the latest and most capable AI model, GPT4. Teladoc Health Inc (NYSE:TDOC) aims to improve healthcare efficiency, reduce administrative workloads, and enhance patient care coordination by implementing these technologies.
To compile a list of countries that have the best doctors in the world, we utilized the QS World University Rankings for 2023 in the field of medicine. Our approach involved identifying the top 100 medical universities in the world and gauging the frequency of these top-ranking institutions within each country. As a result, we have narrowed our selection to the top countries that consistently host leading medical universities. Moreover, we utilized the rankings of the highest-paying countries for doctors. The idea is that high-paying countries, by default, attract the top quality doctors from around the world. We averaged the rankings for both metrics to obtain an average rank. The list is presented in descending order of average rank.
Here is a list of countries that have the best doctors in the world
Average Rank: 19
Austria allocates 11.5% of its GDP to healthcare, which is considerably higher than the OECD average of 9.2%. Moreover, there are 5.4 practising doctors per 1,000 population (OECD average is 3.7). These numbers confirm the exceptional quality of healthcare prevalent in the country, which naturally attracts the best doctors in the world.
Average Rank: 18
Italy has a high-quality healthcare system with 4.1 doctors per 1,000 population, surpassing the OECD average of 3.7. Despite spending $4291 per capita, lower than the OECD's $4986, Italy achieves a 30-day mortality rate after a stroke of 6.6%, which beats the OECD's 7.8%, making Itay one of the countries with the best doctors in the world.
Average Rank: 16
Becoming a doctor in Japan is tough. First, you study at a Japanese university for six years, covering general medicine and practical training. Since the language of instruction is Japanese, you need to be fluent. After getting a medical degree, you must take a strict national exam and prove high language skills. Then comes a competitive two-year residency in a chosen speciality, where academic excellence matters. Finally, passing the National Medical Practitioners Examination gets you a medical license. It's a challenging but rewarding journey that ensures doctors in Japan are well-trained and proficient in medicine and language. Japan is one of the countries that have the best doctors and hospitals.
Average Rank: 15.5
Belgium's medical landscape is evolving, with a notable increase in foreign doctors, surpassing 10,000, a double rise in 11 years. While France and the Netherlands lead the contributions, major numbers come from Romania, Poland, Portugal, Bulgaria, and Italy. Belgium is one of the countries with the best medical care in the world.
Average Rank: 14.5
With modern hospital infrastructure and advanced IT solutions in Norway’s healthcare sector, chances of error are usually minimal. A flat hierarchy promotes a humane approach, reducing pressure and preventing burnout for physicians and doctors in general. Flexible working hours prioritize family needs, and limited overtime ensures a focus on patient care. Norway is one of the countries with the best doctors in the world in 2023.
Average Rank: 14
Ireland has a healthcare system supported by dedicated professionals, including doctors committed to maintaining high ethical standards. Recently, the Royal College of Physicians of Ireland, representing over 11,000 medical professionals, reiterated its firm opposition to legalizing assisted suicide and highlighted its contradiction to best medical practices. Ireland is one of the top 10 countries with the best doctors in the world.
Average Rank: 13
Sweden allocates $6,438 per capita to healthcare, surpassing the OECD average of $4,986 (USD PPP) and constituting 10.7% of its GDP, way higher than the OECD's 9.2% average. With a ratio of 4.3 practising doctors per 1,000 population, Sweden exceeds the OECD average of 3.7, confirming a stable healthcare workforce.
Average Rank: 12
MediVR, a Singapore-based AI startup, is revolutionizing medical training by utilizing generative AI virtual humans with advanced interaction capabilities. Through mixed reality (MR) technology, MediVR offers realistic training scenarios for healthcare professionals to improve their interpersonal communication skills. Their AI Virtual Humans can perceive, talk, and respond like humans, creating immersive training experiences in a safe environment. Deployed in Singaporean medical institutions like the National University Health System, MediVR is aiming to reduce training costs and risks while improving the quality of training in different medical specialities. Singapore is one of the countries with the best doctors in Asia.
Average Rank: 11.5
Germany is known for having top-notch doctors because they receive excellent education and training. The country invests in advanced medical equipment, allowing accurate diagnosis and cutting-edge treatments. German doctors also adopt the latest and most effective medical techniques, making it one of the countries that produce the best doctors in the world.
Average Rank: 10
The Netherlands has experienced a major increase in the number of doctors, from around 10,000 GPs in 2012 to approximately 15,000 in 2023. However, despite this growth, challenges persist, such as reductions in doctor-owned practices. Nevertheless, the Netherlands is also considered one of the best countries for medical studies.
Click here to see the 5 Countries That Have The Best Doctors in the World.
Disclosure: None. 15 Countries That Have The Best Doctors in the World is originally published on Insider Monkey.