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The concept of One Health is the unity of multiple practices that work together locally, nationally, and globally to help achieve optimal health for people, animals, and the environment. When the people, animals, and environment are put together they make up the One Health Triad . [ 2 ]
Often used synonymously with health economics, medical economics, according to Culyer, [31] is the branch of economics concerned with the application of economic theory to phenomena and problems associated typically with the second and third health market outlined above: physician and institutional service providers. Typically, however, it ...
One Health is at the intersection of human health, animal health, and environmental health. [1]One Health is an approach calling for "the collaborative efforts of multiple disciplines working locally, nationally, and globally, to attain optimal health for people, animals and our environment", as defined by the One Health Initiative Task Force (OHITF). [2]
Health economics examines the organization of health care systems, including the role of the health care workforce and health insurance programs. Industrial organization examines topics such as the entry and exit of firms, innovation, and the role of trademarks.
Increasing or decreasing one results in changes to one or both of the other two. For example, a policy that increases access to health services would lower quality of health care and/or increase cost. The desired state of the triangle, high access and quality with low cost represents value in a health care system. [3]
The earlier term for the discipline was "political economy", but since the late 19th century, it has commonly been called "economics". [22] The term is ultimately derived from Ancient Greek οἰκονομία (oikonomia) which is a term for the "way (nomos) to run a household (oikos)", or in other words the know-how of an οἰκονομικός (oikonomikos), or "household or homestead manager".
Investment in health takes the form of medical care purchases and other inputs and depreciation is interpreted as natural deterioration of health over time. [2] In the model, health enters the utility function directly as a good people derive pleasure from and indirectly as an investment which makes more healthy time available for market and ...
In a system of free-market healthcare, prices for healthcare products and services are set freely by agreement between patients and health care providers, which are subject to the laws and forces of supply and demand and free from any intervention by a government, price-setting monopoly, or other outside authority.