| The health-care industry incorporates several sectors that are dedicated to providing services and products dedicated to improving the health of individuals. According to market classifications of industry such as the Global Industry Classification Standard and the Industry Classification Benchmark the health-care industry includes health care equipment & services and pharmaceuticals, biotechnology & life sciences. The particular sectors associated with these groups are: biotechnology, diagnostic substances, drug delivery, drug manufacturers, hospitals, medical equipment and instruments, diagnostic laboratories, nursing homes, providers of health care plans and home health care.
Health economics is a branch of economics concerned with issues related to scarcity in the allocation of health and health care. Broadly, health economists study the functioning of the health care system and the private and social causes of health-affecting behaviors such as smoking.
The social and political issue of access to healthcare in the US has led to public debate and confusing use of terms such as health care (medical management of illness or disease), health insurance (reimbursement of health care costs), and the public health (the collective state and range of health in a population). The public health is related most to economic development and wealth distribution, and health insurance is a business which both provides and restricts reimbursement for healthcare itself in the event of disease, or in access to of medical healthcare in individual health-seeking, -promoting or -maintaining behaviours.
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