Book Description

This book provides study of the allocation and management of scarce resources on goods and services in the operation of medical centers, hospitals and clinics. It also explains the basic concepts of economics in the production of medical goods is concentrated in the operation of pharmaceutical companies, drugstores, medical equipment and supplies enterprises and other related health corporate entities. The existence of medical services relies so much in the operations of health institutions that need to understand the concept of medical price mechanisms, the return-of -investments of acquire health technologies, the user fees of medical equipment and facilities, and the evaluation of cost benefit and effectiveness in the medical programs. The understanding of these health economics concepts and theories will provide the necessary management competence of the medical personnel particularly nurses to know the operation of the hospital or medical center in the economic enterprise of the health sector. That's why this book provides preliminary concepts in health along the standard advocacy of "Health for All" by the World Health Organizations as implemented by the Department of Health . The study of economics for nursing, medicine and allied health professions is primarily directed to concept on the creation of wealth and goods which is the substance of economics as identified from the study of Alfred Marshall in his book "Principles of Economics". It also explains the concept in the use of money or material wealth which is regarded as the main aim of human effort .The material wealth is used to buy the needs and wants of individual which is explained us the general purchasing power. Furthermore, individual needs money to buy things and to satisfy his basic need such as clothing, food, shelter and etc. In producing what we want it is either material or non material goods. The study of micro and macro economics is also explained to form part in the analysis in the introductory concepts of economics. The allocation of economic resources is now applied in the health sector in the promotion, maintenance and improvement of health. It also provides a comprehensive discussion as to the concepts and principles on the law of demand and supply in economics. This is transform through the demand for medical care which is directed to the user fees in the confinement of hospital or medical center. While supply for medical care is directed to the business operations of hospitals, clinics, medical centers, drugstores, and pharmaceutical companies. The concepts and principles of the demand, supply and the price system are also taken from the model of London School of Hygiene and Tropical Medicine (1998). The implementation of public health services and programs has to be evaluated in terms of cost and benefits. There are economic tools to measure the feasibility or viability of the health programs through the use of Cost Analysis (CA), Cost Effective Analysis (CEA), Cost Utility Analysis (CUA) and Cost Benefit Analysis(CBA).There are examples and illustrative discussions presented by the Centers for Disease Control and Prevention of the U.S. Department of Health & Human Services (2008)as the four (4) forms of economic evaluation which are used predominately in public health.On the health care technology, the applications on this area can be seen from the hospitals of developed countries which are using new technologies such as biotechnology, diagnostic imaging, molecular diagnostics, organ and tissue replacement, surgical techniques, wound care, and computer technology. This would help to improve health care delivery and patient outcomes. There is a need to be aware of these emerging technologies because the target employment or work now of nurses as the hospitals of Europe and America which are now using technology-based treatment for their patients