The concepts of health economics involve planned investments at per capita levels for following factors of the health stock, lifestyle, environmental factors, and health care. If I have a net fund of $1000 per capita for investing into health production, I will choose Mexico and develop the below mentioned plan of investment in all of the above-stated factors.
$400 into Health Stock
The health conditions for elderly in Mexico are found directly attributable to the socio-economic status of the individual right at the age of 10. Hence, it can be defined as the stock of health capital which returns back in terms of healthy days later in life, specifically like parental care conditions and their economic capabilities. The health stock index for childhood, CSES shows high dependency of old age health to that of childhood factors like basic amenities, sanitation facilities, access to food and clothing, thus making the investment on health stock to priority (Grimard, Laszlo & Lim, 2010).
$300 into Healthcare
The healthcare factors of health economics involve steady investment into medical and healthcare facilities by the government to ensure sustainable economic development. The investment in healthcare for Mexico involves distributing, prioritizing and deploying the various healthcare resources for general people (Lustig, 2006). Mexico’s health investment has been low in healthcare at 6.2% of net GDP in 2012 and a sound investment into per capita health care expenses can lead to a better economy as well.
$200 into environment
The millennium development goals for attaining standard environmental conditions and sanitation levels in Mexico are almost on verge of achievement (Lustig, 2006). Still, a steady investment into the environmental factors can lead to a prolific impact over developing national statistics in terms of population and industrial growth.
$100 into lifestyle
Researchers have shown that significant growth in lifestyle also leads to inversely proportional decline in health levels of society due to possibilities of chemical addiction, drug use, and ease of access to hazardous addictions (Dewar, 2016). This possibility is very high in a country like Mexico and hence, the spending on lifestyle has to be least. The given table clearly illustrates that economic upturn can adversely affect the healthiness of individuals.
References
Dewar, M. D. (2016). Essentials of Health Economics. 1st Ed. Jones & Bartlett Learning: 43-47. Print.
Grimard, F., Laszlo, S. & Lim, W. (2010). Health, Aging and Childhood Socio-Economic Conditions in Mexico. Retrieved from http://www.ncbi.nlm.nih.gov/pmc/articles/PMC4416492/
Lustig, N. (2006). Investing in Health for Economic Development: The case of Mexico. Retrieved from http://www.rrojasdatabank.info/rp2006-30.pdf
