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Health economics is a branch of economics concerned with issues related to efficiency, effectiveness, value and behavior in the production and consumption of health and healthcare. Health economics is important in determining how to improve health outcomes and lifestyle patterns through interactions between individuals, healthcare providers and ...
[1] [2] It is a sub-discipline of health economics. A pharmacoeconomic study evaluates the cost (expressed in monetary terms) and effects (expressed in terms of monetary value, efficacy or enhanced quality of life) of a pharmaceutical product. Pharmacoeconomic studies serve to guide optimal healthcare resource allocation, in a standardized and ...
This is an accepted version of this page This is the latest accepted revision, reviewed on 9 December 2024. Economic sector focused on health An insurance form with pills The healthcare industry (also called the medical industry or health economy) is an aggregation and integration of sectors within the economic system that provides goods and services to treat patients with curative, preventive ...
An efficient health care system can contribute to a significant part of a country's economy, development, and industrialization. Health care is an important determinant in promoting the general physical and mental health and well-being of people around the world. [5]
"The demand for health after a decade." Journal of Health Economics 1, no. 1 (1982): 1-3. Grossman, Michael. "The demand for health, 30 years later: a very personal retrospective and prospective reflection." Journal of Health Economics 23, no. 4 (2004): 629-636. Grossman, Michael. Demand for Health: A Theoretical and Empirical Investigation.
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.
There are criticisms of QALY. One involves QALY's lack of usefulness to the healthcare provider in determining the applicability of alternative treatments in the individual patient environment, [3] and the absence of incorporating the patient's willingness to pay (i.e. behavioral economics) in decisions to finance new treatments. [4]
Health and wealth; Health care; Health care finance in the United States; Health care prices in the United States; Health care ratings; Health care rationing; Healthcare reform debate in the United States; Comparison of the healthcare systems in Canada and the United States; Health crisis; Health Disparities Center; Health economics (Germany ...