How can one apply economics to health care?

Labor is a resource. It can become overly scarce or overly abundant. Economics applies to health care in that health care cannot be provided without labor. read more

Applying economic thinking to an understanding of resource use in patient care is challenging given the complexities of delivering health care in a hospital. Health-care markets lack the characteristics needed to determine a"market" price that reflects the economic value of resources used. read more

nature of health care as a service or product. Health care is not an item that is pulled off a store shelf, placed in a shopping cart, and paid for at the cash register. The desired result cannot be guaranteed and depends on various factors, many of which are beyond the control of the health-care provider. Economic analysis is based on the fundamental notion of efficient use of available resources. read more