Healthcare is shaped by medical expertise and economic principles that influence how services are delivered, financed, and consumed. Understanding healthcare economics is crucial for students and professionals, as it provides the tools to analyze systems, make informed policy decisions, and allocate resources effectively. This textbook explores critical aspects of healthcare economics, offering a solid foundation in the economic forces that impact healthcare systems and policies.
A discussion of the nature and scope of health economics introduces basic concepts, differentiating health economics from healthcare economics. It also demonstrates the relevance of economic principles in healthcare systems, helping readers analyze health issues critically. Elaboration on healthcare and macroeconomics examines the unique nature of healthcare as an economic activity, focusing on health as a consumer and investment goods. Understanding macroeconomic theory and health valuation is essential for shaping public health policies and managing healthcare institutions. Healthcare and microeconomics topics cover asset valuation, cost formulas, and depreciation and provide financial management insights critical for decision-making within healthcare organizations.
Healthcare economics and planning include exploring externalities, equity, and efficiency, offering frameworks for evaluating economic efficiency in healthcare operations, and understanding the role of public-private partnerships (PPP). Readers gain insights into financial markets, including money and capital markets, and their instruments influencing healthcare funding and investments. This textbook equips readers with the analytical skills to navigate the complex intersection of healthcare and economics. It enables them to make informed decisions that promote efficiency, equity, and sustainability in healthcare delivery.
Contents –
UNIT 1 NATURE AND SCOPE OF HEALTH ECONOMICS
Definition, Concept, and Application in Health Systems-Health Economics vs Healthcare Economics-Basic Economic Concepts – Circular Flow of Economic Activity – Using Economics to Study Health Issues – Nature and Relevance of Economics to Health and Medical Care
UNIT 2 HEALTHCARE AND MACROECONOMICS
Unique Nature of Health as an Economic Activity-Demand and Supply of Healthcare- Health as a Consumer and Investment Good- Macro Economic Theory and Policy – Valuation & Measurement of Health-Monetary Evaluation of Length of Life-Valuation of the Quality of Life-Economic Evaluation in Healthcare– Understanding of Welfare Economics.
UNIT 3 HEALTHCARE AND MICROECONOMICS
Current Assets, Inventory valuation, Cost formulas (AS-2), Fixed Assets, Cost of Acquisition (AS-10), Depreciation Methods (AS-6), Liabilities and its Classification
UNIT 4 HEALTHCARE ECONOMICS AND PLANNING
Basic Economic Aspects in Healthcare-Externalities (Spillover Effects)-Equity and Health, Techniques of Economic Efficiency, Operational Efficiency and Allocative Efficiency – Economic aspects of Public Private Partnership (PPP)
UNIT 5 HEALTHCARE MARKET
Healthcare Market: Meaning and Definition, Role and Functions of Financial Markets, Constituents of Financial Markets, Money Market and Instruments, Capital Markets, and Instruments