The Economics of Health and Healthcare

The branch of economics which studies the issues related to the efficiency, value, behaviour, and effectiveness in the production and consumption of health and healthcare is known as health economics. It involves the study of the functioning of the healthcare systems and the health affecting behaviors. The maintenance and improvement of health by preventing, diagnosing and treating illness, injuries, and diseases is called health care. Government intervention, barriers to entry, asymmetric information, and the presence of a third-party agent are some of the main factors which distinguish health economics from other related branches. In healthcare, the physician is the third-party agent, who is responsible for making purchasing decisions including the prescription of medicines, tests and surgery. This book studies, analyzes and upholds the pillars of the economics of health and healthcare and its utmost significance in modern times. It explores all the important aspects of health economics and healthcare in the present day scenario. Students, researchers, experts and all associated with health economics and healthcare will benefit alike from this book.