Why is healthcare economics valued by managers?

Expert Solution

Here, first of all we need to know what is heatlhcare economics ?

Healthcare economics : It is a branch of economics concerned with issues like efficiency, effectiveness, value and behaviour in the production and consumption of heatlh.

Now, we'll understand by healthcare economics valued by managers.

Here, are some benefits of healthcare economics for managers:

1. It helps managers to be focused or help to concentrate on the key issue.

2.It improves the strategic decision making power of managers.

3.It gives a vivid description to understand costs. And the understanding of costs helps managers to improve their decision making power.

4. It gives manager a framework to understand the concept of demand.

5.It gives manager the ground rules for thinking about value.

6.the last and the most important point is that It make managers to understand the fundamental ideas that affect the planning of any organization.

Rahul Sunny answered 2 years ago

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