ShodhPatra: International Journal of Science and Humanities

From Health to Wealth: How Accessible Health Care Fuels Economic Development

The perception of awareness in today’s society has been changing from the saying “health is wealth” to the more updated version “wealth is health". New findings in research indicates that longer life expectancy and greater health are now seen as means, not ends, of economic growth; rather, they are seen as a method to decrease poverty and advance economic development. Better health therefore does not need to wait for an economy that is doing well; rather, actions to lower the cost of illness, lengthen life expectancy, etc., will help to make economies wealthier by increasing production, productivity, and employment numbers. This is known as universal health coverage where everyone should be able to afford the necessary, high-quality healthcare without being driven into poverty to obtain it. For this the government intervention will play a crucial role. Government engagement in health services is justified by the idea that, by lowering the costs of healthcare for the impoverished, public policy promotes more justice, better health outcomes, and a decrease in poverty. Given that the free market is unable to generate goods that have negative externalities, the government can accomplish greater results than it can. This study examines the relationship between health and economic growth, emphasizing how investments in education and health may boost productivity. It is discovered that there is a strong correlation between the health status indicator and economic performance. The study examines the complex relationships that exist between economic growth and health, as well as the pertinent links with productivity, family planning, and educational spending. It looks into the relationship between health and education and how they affect economic growth. The interaction between health and economic growth is examined in this research. Economic development and health improvement can be facilitated by public financing and policy. The study finds that improvements in health indicators lead to improvements in people's socioeconomic status. The results indicate that a decrease in crude death rates or infant mortality rates had a favourable impact on per capita income growth and slowed the rate of population expansion.