Report: Health Economics and Comparative Health Systems Overview

This report provides an in-depth analysis of health economics and comparative health systems, focusing on economic strategies and their application for economic development. It examines how health systems are designed and implemented to foster a strong economy through investments, guided by clear principles and objectives. The report explores the role of health economics in countries like Australia, highlighting the importance of effective healthcare providers, management strategies, and public health initiatives. It also delves into economic models and theories, such as competition, production, and efficiency, used to inform both public and private sectors. The report discusses various economic strategies, including low-interest rates, education packages, and technological advancements, and addresses limitations like corruption and pollution. Finally, it concludes by emphasizing the critical role of investments, particularly at the individual level, in achieving a healthy economy, using the NSW health system as a prime example.

Running head: HEALTH ECONOMICS AND COMPARATIVE HEALTH SYSTEMS 1
HEALTH ECONOMICS AND COMPARATIVE HEALTH SYSTEMS
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HEALTH ECONOMICS AND COMPARATIVE HEALTH SYSTEMS 2
EXECUTIVE SUMMARY
This report provides an in-depth analysis of health economics and comparative health
systems whereby economic strategies are implemented together with economic theories for a
reputable economic development. It involves systems with an aim of creating a well-
established economy through investments. The health systems are guided with clear stated
principles and objectives for efficient means to optimum productivity and also having critical
measures to curb the limitation and the short comings that may emerge in the systems guided
by some of economic models.

HEALTH ECONOMICS AND COMPARATIVE HEALTH SYSTEMS 3
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
it’s 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

HEALTH ECONOMICS AND COMPARATIVE HEALTH SYSTEMS 4
having a health economics (Independent Hospital Pricing Authority, 2014). Having a higher
gross per capital income that’s 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.

HEALTH ECONOMICS AND COMPARATIVE HEALTH SYSTEMS 5
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.

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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.