Write 2 page essay on the topic Health Economics: Public and Private Goods in Healthcare.comes hugely critical issues because of myriad health associated problems and difficulties especially age relat

Write 2 page essay on the topic Health Economics: Public and Private Goods in Healthcare.

comes hugely critical issues because of myriad health associated problems and difficulties especially age related issues like general physical decline, chronic diseases, vision and hearing impairment, joint pains, cardio diseases, diabetes etc. This makes it hugely difficult for families to manage effective palliative care, thus requiring societal inputs government assistance and necessary medical intervention.

WHO (2002) defines palliative care as an approach that improves quality of life of patients and family when they are faced with life threatening diseases through interventions that reduce pain and promote physical, psycho-social and spiritual well-being. Palliative care for dementia patients becomes more complex because patients are not able to inform others about the extent of their pain or problems. Hughes & Robinson (2006) emphasize that external factors hugely influence good palliative care for elderly with advanced dementia. They are effective communication mechanisms, organization and education vis-à-vis awareness regarding diseases and specialist knowledge and skills required for caregiving.

The distinction between public versus private good is important as the economic implications of end of life care for elderly with dementia are significantly impacted. As private good, while the various cost of palliative care could be increased, the overall quality of the same may reduce to increased age related problems. Intervention cost, medicine and constant vigilance of the patients become crucial because of the degenerative symptoms that are compounded by the patients’ inability to communicate the same. Scholars believe that dementia makes it difficult for physicians and clinicians to predict or identify the trajectory of death for elderly with dementia (Robinson et al., 2005. Moss et al., 2002). They further assert that short time or long time different care therefore requires systematic planning thereby, significantly increasing the overall cost of