Health vs Healthcare

Summary:
Health vs Healthcare
Economics of Health vs Economics of Healthcare
Differences by means
Conclusion
References

Health vs Healthcare:
The existence of these different terms implies that the concept of health is a complex and significant economic matter. Furthermore, it also suggests that the field of health economics encompasses questions that go beyond just the provision of medical services by healthcare professionals (referred to as 'healthcare').
Health Economics studies not only the provisioning of healthcare but under health economics, economists also aim to analyze how the healthcare is impacting patients health. Moreover, health economics also focuses its interest on other aspects of the social and economic life of individuals that affect health in one or the other way. This includes analyzing the effects of education, unemployment, housing and lifestyle etc..

Economics of Health vs Economics of Healthcare:
It is important to understand the difference between the Economics of health and Economics of Healthcare because each field has its own unique focus and set of goals.
A person working under a broad category of economics may study  a wide range of topics such as impact of education on health or cost- effectiveness of a new vaccine, whereas healthcare economists are more likely to focus on topics that are specific to healthcare sector, such as impact of hospital consolidation on healthcare costs among others.

A general example,
1. A person might study the impact of a new smoking cessation program on the health of smokers and the cost effectiveness of the program.
2. Another person might study the impact of a new payment model for hospital costs and quality of care.
The first is part of healthcare, while the other is more specific to the economics of healthcare.

Difference by Means:
* Definition wise: 
Health economics is the study of the allocation of scarce resources to improve the health of individuals and populations. 
Healthcare economics is a subfield of health economics that focuses specifically on the healthcare sector but from a broader perspective, including population-level healthcare utilization patterns.
* Scope wise:
Health Economics focuses on microeconomic aspects of health, delving into individual patient choices, healthcare provider behavior's, and resource allocation within healthcare facilities.
Economics of Healthcare has a broader scope, encompassing healthcare financing, policy analysis, and system-level assessments.
* Analysis of accessibility: 
Health Economics explores healthcare access primarily at the individual level, considering personal barriers to care.
Economics of Healthcare analysis healthcare access from a systemic viewpoint, including systemic barriers to access and disparities in healthcare availability.

Conclusion: 
Despite these differences, it is important to note that there is an overlap between the fields of economics of health and economics of healthcare. This is because both fields are concerned with the allocation of resources to improve health.
Overall, health economics and healthcare economics are two distinct but complementary fields of study. Health economists and healthcare economists use their skills and knowledge to improve health and healthcare in different ways. The interaction between health and healthcare broad understanding of the determinants of health and the costs and benefits of different healthcare interventions.

References:
Economic analysis in healthcare. John Wiley & Sons
Principles in Health Economics and policy. Oxford University Press, Olsen J.A







Comments

Post a Comment

Popular posts from this blog

Health Insurance penetration in India: Barriers to adoption and Trust Issues

  Health Insurance penetration in India: Barriers to adoption and Trust Issues ABSTRACT:  While health insurance stands at the intersection of health care and financial protection, its positive potential is mostly unrealised in India due to a variety of barriers that are many and complex. Health insurance is undergoing a phase of rapid growth, but the public is still affected by high premiums compared to income, a lack of simplicity in policy terms, delays in claims settlement, and systemic public distrust. There have been multiple governmental initiatives like Ayushman Bharat, some targeted state initiatives, as well as regulatory policies from the IRDAI designed to address these issues, as they emphasised standard product offerings, identification of products that did or didn't meet the needs of the uninsured, and the advancement of coverage and access to the private sector. This paper argues that only a holistic approach that integrates regulation, technology, and ...
Read more

Economics in the field of Health sciences

Image
Since this is the first one, it deals with the Introduction of Economics in the area of Health Sciences.  Summary: What is Economics? What is Health? Economics and Health: Health Economics Healthcare in India References. What is Economics? Economics is the science which studies human behavior as a relationship between ends and scarce means which have alternative uses, as put forth by an Economist, Lionel Robbins.  In short, Economics is the study of scarcity, the study of how these scarce resources are put to use or the study of decision-making. Economics is both and art and science as its concept is used in every discipline. What is Health? Health as defined by WHO is, A state of complete physical, mental and social well-being, and not merely the absence of diseases. Health also refers to the degree of bodily functioning observable to an external expert and measurable on medical instruments.   Economics and health: Health Economics There's one law that makes economi...
Read more

Growth and Developments in Health sector

Summary: Growth and Developments in Health Sector Recent Developments in Health Sector Budget and Health Areas of Improvement References Growth and Developments in Health Sector: As of April 2000-March 2024, The FDI inflow(Foreign Direct Investment) of Drugs and Pharmaceuticals sector stood at US $22.57 billion.  Inflows in sectors such as Hospitals and diagnostic centers and medical surgeries appliances stood at US $10.26 billion and US $3.28 billion. As of 2022-23, FDI Inflows in India stood at US $36,746 million. Recent Developments in Health Sector: As of August 1, 2023 a total of 24.33crores Ayushman Cards have been created and as of October 2023, a total of 26crore Ayushman cards have been created. As of February 20, 2023 more than 220.63crores COVID'19 vaccine doses have been administered across the country while, as of May 11, 2023 more than 2.20billion COVID'19 vaccine doses have been administered. As of July 15, 2023 India has exported 30.12crore vaccine doses. The He...
Read more