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The Seen and the Unseen - hosted by Amit Varma cover image

Ep 393: Amrita Agarwal Wants to Solve Healthcare

The Seen and the Unseen - hosted by Amit Varma

NOTE

Defining Healthcare: Navigating Public and Private Goods

The definition of health can be categorized into different types of goods, with health primarily viewed as a private good characterized as excludable and rival. Health care services, including drugs and medical care, are also considered private goods. In contrast, public goods related to health encompass essential resources like clean air and water, which significantly impact overall health outcomes and should be prioritized for investment. Public health measures, such as vaccinations and mitigation strategies during pandemics, demonstrate the importance of addressing externalities that can benefit society. Furthermore, global public goods, such as knowledge, research, and innovation, play a crucial role in enhancing health outcomes across generations. The approach to addressing market failures in private health goods entails focusing on system efficiency, while individual responsibility remains a vital element in contributing to overall health. Universal Health Coverage (UHC) is often misunderstood, as it does not adequately define the underlying components of health systems but rather emphasizes reaching as many people as possible. Ultimately, the goal should be to deliver value for money in health care, ensuring the best possible outcomes at the most effective costs.

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