economics and health care

Economics and Health Care
Student’s Name
Institutional Affiliation
Economics and Health Care
Introduction
Health Care makes extensive use of economic theories. Health economics provides a candid view of how health and medical resources are utilized. For instance, health economics has proven most opposite in the quantification of consumption, demand, and production of health care services around the globe. This paper purposes of discussing the relationship between health and economics, provide a precise definition of health and evaluate how income level influences health. It unravels that a strong correlation exists between higher income levels and sound health.
Economics has broad applicability in health. Provision of health as a service is dependent on demand and supply like any other service or good. Health economics seeks to examine how health care services are produced and consumed. For instance, health economics offers large data quantifying the demand and supply of health care services within a given geographical locality. Additionally, health economics evaluates the efficiency in the provision of healthcare services.
Health is an aggregate state of psychological, physiological and societal well-being, which is not necessarily a mere absence of a diseased condition. The World Health Organization (WHO), defines health as “a dynamic condition which results from body’s constant adjustment and adaptation in response to stress and changes in the environment for maintaining an inner equilibrium called homeostasis” (World Health Organization, 2018).

The World Health Organization provides the best definition of health. This is because their definition covers different aspects of the state of health. For instance, it incorporates mental, physical and social state of health.
A rise in the level of income has differed implications on a person’s health depending on the region and country. In essence, an increase in individual income in a country like the United States which has a better health care system and excellent social amenities is likely to foster quality life and better health (Kincaid, 2014). Nevertheless, an increase in individual income in a country like Haiti might not translate to good health. This is because other determinants of health such us; education level, physical environment, social support network, and health services are below par in this country.
Conclusion
Health and income are highly correlated. It is probable that individuals with higher levels of income register lesser cases of ill-health as compared to the poor. Admittedly, higher income does not guarantee good health. Notwithstanding, higher levels of income enables a person to access better health care services, and thus life expectancy would be higher in individuals with high income.
References
World health organization. (2018). Health. Retrieved from http://www.businessdictionary.com/definition/health.htmlKincaid, E. (2014, April 14). Residents of one Virginia county live 18 years longer than people just 350 miles away. Retrieved from https://www.businessinsider.com/how-income-affects-health-2015-4?IR=T