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Medical economics deals with cost of procurement of medical devices, instruments, equipments, tools and machines. The direct cost and indirect cost of surgery constitutes the subject matter of medical economics. It could be noted that cost of construction of medical institutions, recruitment and placement of medical personnel, salary and wages to staff can be examined under the subject focus of medical economics. The collection of tuition fees, special fees and examination fees for medical students should constitute the subject matter medical economics. Medical economics deals with cost of medical education, expenditure on medical education, cost of developing new medical curriculum and cost of teaching and learning in medical education. These aspects are not covered in health economics. In medical economics, the study of cosmetic technology and application of this technology assumes an important significance in the context of growing tendency towards informing cosmetic surgery among the effluent section of the society. The cost of cosmetic technology and cost of cosmetic surgery has been come under the subject matter of medical economics. Medical economics makes an analysis of direct cost of medical care. The direct cost of medical care includes the cost of consultation, cost of drugs and medicine, cost of lab tests, cost of minor operations, cost of major operations and cost of hospital bed charges. The indirect cost of medical care includes the transport cost, cost of supplementary nutrition, cost of care takers, loss of labour productivity consequent upon ill health and the like. The study of medical economics enables one to under the cost effectiveness of medical care for a large segment of the population. The knowledge of medical economics enables one to understand the cost of medical care in a given region. The planners and policy makers can get insight about the required medical services and ways and means of availing the existing financial resources towards meeting medical care needs. The knowledge of medical economics enables the planners and policy makers to understand the required medical budget and methods of mobilizing financial resources to meet the medical needs and demand.ISBN-9788183875943
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Pages : 330
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