Health Care

What is Health Care

The goals for a health care system, according to the World Health Organization are to ensure the good health and respond to the expectations of the population as well as fair financial contribution from the people and the government. Implementation and progress of health care depend on the provision of health care services, generation of resources, proper financing and correct stewardship.

There are many policies that the government has instituted with regard to health care. These include rules, regulations and guidelines for the proper operation and financing of delivering health care to everyone.

Not to mention that health care covers a very wide range of services including public health, mental health, long-term care, chronic illness and disability and preventive health care.

As a basic framework for defining the sector, the United Nations International Standard Industrial Classification (ISIC) categorizes the health care industry as generally consisting of:
  1. hospital activities;
  2. medical and dental practice activities;
  3. "other human health activities".
This third class involves activities of, or under the supervision of, nurses, midwives, physiotherapists, scientific or diagnostic laboratories, pathology clinics, residential health facilities, or other allied health professions,

Example: In the field of optometry, hydrotherapy, medical massage, yoga therapy, music therapy, occupational therapy, speech therapy, chiropody, homeopathy, chiropractics, acupuncture

The Global Industry Classification Standard and the Industry Classification Benchmark further
distinguish the industry as two main groups:
  • health care equipment and services; and
  • pharmaceuticals, biotechnology and related life sciences.
Health care equipment and services comprise companies and entities that provide medical
equipment, medical supplies, and health care services, such as hospitals, home health care
providers,and nursing homes.

The second industry group comprises sectors companies that produce biotechnology,
pharmaceuticals, and miscellaneous scientific services.