Reshaping the Healthcare Sector with Economic Policy Measures Based on COVID-19 Epidemic Severity: A Global Study

Abstract

Governments around the world are looking for ways to manage economic consequences of COVID-19 and promote economic development. The aim of this study is to identify the areas where the application of economic policy measures would enhance the resilience of societies on epidemic risks. We use data on the COVID-19 pandemic outcome in a large number of countries. With the estimation of multiple econometric models, we identify areas being a reasonable choice for economic policy intervention. It was found that viable remediation actions worth taking can be identified either for long-, mid-, or short-term horizons, impacting the equality, healthcare sector, and national economy characteristics. We suggest encouraging research and development based on innovative technologies linked to industries in healthcare, pharmaceutical, and biotech, promoting transformation of healthcare systems based on new technologies, providing access to quality healthcare, promoting public healthcare providers, and investing in the development of regional healthcare infrastructure, as a tool of equal regional development based on economic assessment. Further, a central element of this study, i.e. the innovative identification matrix, could be populated as a unique policy framework, either for latest pandemic or any similar outbreaks in future.

The Application of Artificial Intelligence in Health Policy: A Scoping Review

“…One study pointed to the era of big data and the necessity of publicizing health education and health literacy in a targeted way to meet the public's needs and to understand how the public's demand for subjects, contents, and forms of health literacy service change in some situations such as the era of COVID-19 [33]. In the context of macroeconomics, AI helps identify innovative economic policy measures that can be applied before an epidemic [34]. Another study reported that AI, as a new way of exploring the social context, can minimize decision-making bias and improve the effectiveness of messages [35].…”

The Spatiality of COVID-19 in Kermanshah Metropolis, Iran

“…This situation and other socioeconomic factors (as discussed above) prevent them from seeking medical treatment. Prevention programs and policy measures to control the spread of COVID-19 should target all people from the lower and middle classes, and young people from the higher class [13] in order to boost resilience of communities [5].…”

“…A large body of researchhas analysed the short-term and long-term economic impacts of COVID-19 [4][5][6]. The findings of the studies suggest that the pandemic has had serious negative impacts on households [7] as well as regional [8] and global [9] economies.…”

The causal configurations of provincial health policy innovation in China: an analysis of the food safety standard filing policy

“…Since GDP (Gross Domestic Product) is a key indicator of market-related economic activities in a country, we use provincial GDP per capita to estimate provincial socioeconomic developments ( 51 ). Since business activities (design, production, and technical marketing) require provincial government regulation as a guide ( 38 , 39 ), the food producers constitute a source of pressure upon government for impartial legal innovation of regulations. The business activities of food industries can be indicated by Food Industry Sales Value (FISV).…”

“…As the main body for adjusting the standard filing policy of food safety firms, the amount and size of the food industry have an important influence on the requirements for standard filing policies and also constitute a source of pressure when supervisory authorities oversee them. As the number of food producers increases, so does the number of business activities (design, production, and technical marketing) that require provincial government regulation as a guide to facilitate governmental structures ( 38 , 39 ).…”