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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. Health economics is important in determining how to improve health outcomes and lifestyle patterns through interactions between individuals, healthcare providers and ...
Solutions to the problem of this sub-model generally show that the rate of return on health capital must equal the opportunity cost of said capital. Thus, increases in the depreciation rate over time cause the optimal stock of health to decrease. If the marginal efficiency of capital curve is inelastic, gross investment grows over time.
Human capital or human assets is a concept used by economists to designate personal attributes considered useful in the production process. It encompasses employee knowledge, skills, know-how, good health, and education. [1] Human capital has a substantial impact on individual earnings. [2]
Population health has been defined as "the health outcomes of a group of individuals, including the distribution of such outcomes within the group". [1] It is an approach to health that aims to improve the health of an entire human population. It has been described as consisting of three components.
Immunization against diseases is a key preventive healthcare measure. Preventive healthcare, or prophylaxis, is the application of healthcare measures to prevent diseases. [1] Disease and disability are affected by environmental factors, genetic predisposition, disease agents, and lifestyle choices, and are dynamic processes that begin before ...
Health is a basic human right and human need, and all human rights are interconnected. Thus, health must be discussed along with all other basic human rights. Health equity is defined by the CDC as "the state in which everyone has a fair and just opportunity to attain their highest level of health".
Health care cost as percent of GDP (total economy of a nation). [1] [2] Life expectancy vs healthcare spending of rich OECD countries. US average of $10,447 in 2018. [3] This article includes 2 lists of countries of the world and their total expenditure on health per capita. Total expenditure includes both public and private expenditures.
The Human Capital Index ( HCI) is an annual measurement prepared by the World Bank. [1] HCI measures which countries are best in mobilizing their human capital, the economic and professional potential of their citizens. The index measures how much capital each country loses through lack of education and health.