Health Economics and Comparative Systems-myassignmenthelp.com

Question: Discuss about theHealth Economics and Comparative Systems. Answer: Introduction Health economics is an applied field of study which is well equipped with standard economics strategies and application of theories to enable the economy of a particular state or country to grow. Through health economics and comparative health systems, we get means by which different countries use to embrace and provide an improved modified and a reformed health systems (Collins et al, 2009) .Most of the countries are evolving drastically in order to create a balance in economic growth within countries with an aim of offering better health economics services to the individuals. Consider a country like Australia, having NWS health systems is because of studying on good health care providers, clinics and hospitals, management strategies and promoting public health activities .For better health economical systems, health economists employs several economic theories of competition, production, efficiency and many other to inform the public and the private sector the best way to operate and provide a least cost effective processes to offer services (Liaw et al, 2017). Health economics creates a channel where some predictions can be made involving several research for evaluation of latest technologies and also creating enhancement when it comes to strategic behaviours with an aim of optimum investment in both public and private sectors. Economic health strategies and delivery are commonly used in the current world as its the easiest approach to attain more investments leading to economic growth through infrastructures, creation of jobs, poverty eradication and keeping the gross domestic product optimal. The NWS Health is one of the leading health systems that has led to massive economic health peak creating a clear path to investments. In NWS stable economic health has created good foundations to economic growth by having a stable government, full employments, effective trading strategies, agricultural productions and many other more thus having a health economics (Independent Hospital Pricing Authority, 2014). Having a higher gross per capital income thats an indication of a health economics .Health systems which are effective allows a country to automatically have a healthy economy through several ways which includes; Ensuring the country got no social problems which may lead to market failures and inappropriate allocation of resources, this will help by making sure the money market and labour market operations are running smoothly hence health economics. Creation of bonds between firm organizations and the government in order to stimulate wealth creation to each and every household in the country. The government plays a big role in ensuring there are best course of action regards to regulations, issuing of national economic health programmes and economic health insurance covers to promote steady flow of investment in the country (Health Workforce Australia, 2013). Having low interest cost is one of the economic strategy most economies in different countries has adopted to enable more individuals to acquire loans from the banks and other lending firms to promote more investments also leading to a healthy economy. Coming up with education packages has led to improvising of skilled labour and also empowering individuals with knowledge on how to deal with different types of investments and also having an open mind to create business ideas hence creating job opportunities making the country to have a healthy economy. Creation of better health facilities whereby ensuring households regardless of wealth status attains better health services to have a well investment distribution country wide (Food and Health Bureau, 2012).This will keep each household on toes to increase his income allowing room for infrastructure since when human diseases are eradicated in the economy the optimum yields is always high. Applications of the latest technologies has been a major key to health economics as handling of things has become easy and cheap creating efficient communications ,easy to make transactions ,easy to acquire a specific information ,ease in record keepings hence making the management to be less tiresome leading to a healthy economy. Promoting health economics through comparative health systems there is occurrence several limitations and short comes that hinder or creates a barrier to attain a health economics .In most developed countries in order to achieve a healthy economy they had their own ways to fight or reduce the limitations which could come their ways as challenges must be there (Edwards, 2012). Some of the shortcomings and limitations that hinders health economics includes; Corruption is one the short come that hinders a lot of operations to take place .In health systems we find there are some parties with a bias health economics status that lead a lot of drawbacks to the economy Pollution is another limitation since when there is competitions to attain a health economic due to pressure in the markets the means to optimum productivity leads to may be air, water and noise pollution becoming a serious hindrance to the safety means of production. Allocation of resources in way that the input cost is made minimum to yield maximum production becomes a key problem in most of developing countries .This create losses in some of the investments in the country leading to depreciation in health economics (Finkler et al, 2013). Lack of financial aids, open to the latest technology and illiteracy among the households are some of limitations to health economic systems. Health economics is thus attainable by laying well structure management strategies and by having clearly stated objectives to run a productivity health system. Some theories such as Structural-change theory enables the health systems to catch up with modern facilities in order to acquire a healthy economy within a short time (Duckett, 2013). Linear-stages-of-growth model whereby in order to encourage investment to health economic the health systems should focus on accumulation of capital through utilization of both domestic and international savings .The theory of Economic nationalism also tells us about the importance of wide investments widely across the country to increase productivity to a more output hence an increase in government revenue and per capital income to the households. Conclusion As I conclude my report, health economics through comparative health systems is only achievable through critical investments involving particularly each and every individual in a country (WHO, 2010) .NSW is one of the examples healthy system that has led to a healthy economy under well laid management strategies.