Health care is an economic sector that is receiving increasing attention in the global economic environment. The health structure is related to the generation of added value and compared to that provided by other sectors of activity.
The economic development of the countries has a fundamental impact on the items of expenditure, and this evolves at the same rate as the economic growth and income of the country.
Provision of health resources
Starting from considering health as a scarce economic good in which demand is greater than supply, we must say that health is a scarce good and in many situations of complicated supply.
In the same way, health must be considered as a safe and convenient investment and this must be so for two reasons:
- The higher the health, the lower the consumption of health resources.
- The greater the health, the greater the capacity for people to remain productive in their health environments and, therefore, lower company consumption, greater productivity and better economic results.
Thus, if health and its demand is greater than the supply of services, the manager must consider how resources are distributed. This is where the consideration of economic parameters must be added to the social ones, in order to achieve the best allocation of available resources.
The ability to analyze economic returns must add knowledge to social needs to achieve the greatest possible benefits. Only by knowing the real costs of each of the health actions and activities can we know the benefit actually obtained, related to the costs of not having dedicated resources to other health needs.
In economic terms, this relation is known as opportunity cost and we can define this concept in a concrete way as: the benefit lost by not dedicating these resources to alternative activities.
The use of this concept goes hand in hand with the capacity to make decisions, since the decision to dedicate resources to one or another health need is key to the final results in health.