HEALTHCARE MANAGEMENT
THE ECONOMICS OF BEHAVIOURAL HEALTH The economics of behavioural health is hardly ever recognised. While this reflects in the outcomes in our life situations (be it professional or personal), we hardly ever own the responsibility of the impact we bring about it. The attitude towards life impacts decision making which impacts the outcomes of the jobs we undertake to do. After all, businesses succeed because of decisions and actions taken by individuals. Gurrit K Sethi, Founder, Miindmymiind
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ost of us think of economics as a subject to study or as a study of national performance basis the policies and politics! We forget that how we conduct ourselves financially is the economics of our daily lives. Of course, this is affected by the larger gambit of policies of taxation, labour laws etc. But our own spending patterns at an individual level, and buying patterns at a group level are the founding basis of behavioural economics, which is today a muchresearched topic. Nevertheless, let’s explore how our own behavioural health affects our economics. So, what is behavioural health and what is its relation to economics? Our behavioural health is reflected through our ability of reasoning, decision-making skills and how we deal with complex and stressful situations. This affects all areas of our life—personal as well as professional—given the behaviours we display and decisions we finally take. These decisions and behaviours impact the outcomes of relationships at home and at work. When we fare well in our behaviours, outcomes will be good. Generally, good work done derives good financial outcomes. Simply put this is the economics of behavioural health. What impacts our behavioural health? Three factors: biological, emotional / psychological, and social. The first refers to our physical health.
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A SI A N H O S P I T A L & H EA LT HCAR E M A N AGE M E N T
IS S UE - 58, 2022
