Economical
Economical (Medicine)
Economical (pronounced: /ɪˌkɒnəˈmiːkəl/) in the context of medicine refers to the cost-effective use of resources in the healthcare sector. It is derived from the Greek words "oikos" meaning house and "nomos" meaning law.
Definition
In medicine, economical refers to the efficient and cost-effective use of resources, including medical supplies, personnel, and facilities. It is a key consideration in healthcare management and policy-making, as it helps to ensure that the maximum number of patients can be treated with the available resources.
Related Terms
- Health Economics: The branch of economics concerned with how scarce resources are allocated among alternative uses for the care of sickness and the promotion, maintenance and improvement of health.
- Cost-Effectiveness Analysis: A form of economic analysis that compares the relative costs and outcomes (effects) of different courses of action.
- Resource Allocation: The distribution of resources among competing groups or uses.
- Healthcare Management: The profession that provides leadership and direction to organizations that deliver personal health services, and to divisions, departments, units, or services within those organizations.
See Also
External links
- Medical encyclopedia article on Economical
- Wikipedia's article - Economical
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