Health Care through the Eyes of the Economist

Abstract Health economics is one of the essential needs in establishing the basis for a better healthcare services and medicinal product development. The concept of health economics also deals with the system of financing health care system. Many economists believe that understanding the discipline and ethics in health economics are important intervention tools for medical professionals. In economics’ terms, health care services are consumption and investment goods (Kominski, & Stoller, 2013). Health care service is an essential element in improving the quality of life (QOL). Perhaps, it is important to understand and if necessary differentiate health care services from other economics’ goods. The level of societal-value attached to health economics provides the basis for rational and equitable decision making process in the field. Thus, allowing health professional to attain optimal health services. In the process, the public will gain tremendous health benefits while minimizing costs associated with health care services

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