Research Article

Predicting Global Health Expenditures Using Machine Learning and Regularized Regression Methods

Volume: 12 Number: 2 December 29, 2025
TR EN

Predicting Global Health Expenditures Using Machine Learning and Regularized Regression Methods

Abstract

Health expenditures are crucial for countries’ economic sustainability and the effectiveness of health policies. Accurately modeling these expenditures is complex and requires methods beyond classical regression. This study aimed to estimate per capita health expenditures using machine learning and regularized regression approaches based on 2022 World Bank data from 190 countries. Missing values were imputed using the Multiple Imputation by Chained Equations (MICE) method. The dependent variable was per capita health expenditure, while independent variables included socioeconomic and demographic indicators. Six models—Support Vector Regression (SVR), Random Forest (RF), Extreme Gradient Boosting (XGBoost), Elastic Net, Lasso, and Ridge—were compared using RMSE, MAE, and R² metrics. SVR achieved the best performance (RMSE = 463 ± 13.3, R² = 0.940 ± 0.003). XGBoost yielded the lowest MAE (262 ± 15.5) with high accuracy (R² = 0.923 ± 0.007). GDP per capita was the most important predictor, followed by the proportion of elderly population, life expectancy, and urbanization rate. SVR and XGBoost models demonstrated high predictive power, highlighting their potential as decision-support tools for forecasting health expenditures.

Keywords

Supporting Institution

No support is taken from any institution or organization.

Ethical Statement

All procedures performed in studies comply with the ethical standards of comparable institutional and/or national research committees.

Thanks

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References

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Details

Primary Language

English

Subjects

Econometrics (Other)

Journal Section

Research Article

Publication Date

December 29, 2025

Submission Date

September 28, 2025

Acceptance Date

October 16, 2025

Published in Issue

Year 2025 Volume: 12 Number: 2

APA
Öztürk, H., & Hayat, E. (2025). Predicting Global Health Expenditures Using Machine Learning and Regularized Regression Methods. Pamukkale Üniversitesi İşletme Araştırmaları Dergisi, 12(2), 462-476. https://doi.org/10.47097/piar.1792425
AMA
1.Öztürk H, Hayat E. Predicting Global Health Expenditures Using Machine Learning and Regularized Regression Methods. Pamukkale Business Research. 2025;12(2):462-476. doi:10.47097/piar.1792425
Chicago
Öztürk, Hakan, and Elvan Hayat. 2025. “Predicting Global Health Expenditures Using Machine Learning and Regularized Regression Methods”. Pamukkale Üniversitesi İşletme Araştırmaları Dergisi 12 (2): 462-76. https://doi.org/10.47097/piar.1792425.
EndNote
Öztürk H, Hayat E (December 1, 2025) Predicting Global Health Expenditures Using Machine Learning and Regularized Regression Methods. Pamukkale Üniversitesi İşletme Araştırmaları Dergisi 12 2 462–476.
IEEE
[1]H. Öztürk and E. Hayat, “Predicting Global Health Expenditures Using Machine Learning and Regularized Regression Methods”, Pamukkale Business Research, vol. 12, no. 2, pp. 462–476, Dec. 2025, doi: 10.47097/piar.1792425.
ISNAD
Öztürk, Hakan - Hayat, Elvan. “Predicting Global Health Expenditures Using Machine Learning and Regularized Regression Methods”. Pamukkale Üniversitesi İşletme Araştırmaları Dergisi 12/2 (December 1, 2025): 462-476. https://doi.org/10.47097/piar.1792425.
JAMA
1.Öztürk H, Hayat E. Predicting Global Health Expenditures Using Machine Learning and Regularized Regression Methods. Pamukkale Business Research. 2025;12:462–476.
MLA
Öztürk, Hakan, and Elvan Hayat. “Predicting Global Health Expenditures Using Machine Learning and Regularized Regression Methods”. Pamukkale Üniversitesi İşletme Araştırmaları Dergisi, vol. 12, no. 2, Dec. 2025, pp. 462-76, doi:10.47097/piar.1792425.
Vancouver
1.Hakan Öztürk, Elvan Hayat. Predicting Global Health Expenditures Using Machine Learning and Regularized Regression Methods. Pamukkale Business Research. 2025 Dec. 1;12(2):462-76. doi:10.47097/piar.1792425

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