How do you identify the macroeconomic indicator or policy that the Health Care industry should monitor

How do you identify the macroeconomic indicator or policy that the Health Care industry should monitor

The individual indicators that affect the health care industry include pricing of the services, availability of drugs, demand and supply of professionals like doctors, nurses, ward boys and more. These factors when combined at a national level become macroeconomic indicators, that affect the health care industry. For example governmental regulations that affect the pricing of the services, establishments of new universities, research and development in the medical field, and governmental regulations and control policies on medical practices and more. Apart from these since the health care industry is a sensitive industry this also has to comply with international laws and norms and basic laws of sanitation. Various individual factors when combined results in macroeconomics indicators for the health care industry.

Why is the macroeconomic indicator or policy is important, and how may it impact the industry?

• The importance of macroeconomic indicators is that it helps in analyzing the future growth and profitability by studying the current economic factors.
• These indicators show a cause and effect relationship between two or more variables in the market. The analysis is made easy as the dependency between the variable is known already.
• The macroeconomic indicators give true picture on economic strength and stability. It tells which industry is flourishing and which one is not. The economic policies can be designed to keep this picture in mind.

The effects of the macroeconomic indicators on the industry are that these indicators affect the sales and functioning of the industry. If the indicators are in favor of the industry can reap huge profits. Otherwise, the management has to figure out policies to deal with the adverse conditions in the market. Also, the market trends and governmental policies are the results of macroeconomics indicators which are studied so the individual policies can be formulated.