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Health economics deals with the allocation of the required resources for proper care of diseases, illnesses and sickness that is needed to be cured in order to promote, maintain as well as improve the general health of people. This responsibility is owned by the health sector which falls under the Department of Health. All these healthcare services possess their own corresponding costs as well as benefits among all individuals and the society groups. Basically there are 2 important variables that govern the overall health economics and they include demand and supply of the medical care. |
The demand for such medical care is basically directed by hospitalization of the individuals just because of the illness. There are various kinds of situations that are provided in such demands for medical care. These include the payment of hospital fees including the doctor’s fee, drugs and other medical expenses, payment of medical fees for the confinement as well as check up of elder people on certain illnesses like diabetes, heart attacks, tuberculosis, strokes, breast cancer, etc, and various other such facilities.
The applicability of overall health economics based on demand and supply for such medical care is generally presented in terms of the establishment of hospitals. There are various standards that have been set up by the Health Department that is held responsible towards all such activities.
Health economics should not only be concerned with the profit based on the medial goods and services, but rather take care of the general welfare as well.
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