Health economics
Health economics
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. In broad terms, health economists study the functioning of healthcare systems and health-affecting behaviors such as smoking, diabetes, and obesity.
Pronunciation
Health economics: /ˈhɛlθ iːkəˈnɒmɪks/
Etymology
The term "health economics" is derived from the words "health" and "economics". "Health" comes from the Old English word "hǣlth", which has the base meaning of "whole". "Economics" is derived from the ancient Greek word "oikonomia", which means "management of a household".
Related terms
- Economic evaluation
- Cost-effectiveness analysis
- Cost-utility analysis
- Cost-benefit analysis
- Healthcare system
- Health policy
- Public health
See also
Health economics is a field of study that seeks to understand how we can best use limited resources to achieve the maximum health benefits. It is a multidisciplinary field that uses economic concepts, structures, and tools to answer health-related questions. The field of health economics is growing in importance as healthcare costs continue to rise and resources become increasingly scarce.
External links
- Medical encyclopedia article on Health economics
- Wikipedia's article - Health economics
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