Economic crises throughout history have often given an impetus for health and social reforms leading to the introduction of general healthcare systems and social equality in a large number of countries. The aim of this paper is to present the major economic crises and their effect on healthcare and social system chronologically. Bismarck’s and Beveridge’s model, the two most prominent healthcare models, which emerged primarily as a response to major economic crises, constitute the basis for the functioning of most health care systems in the world. An overview of historical events and experiences may be valuable in predicting future developments and potential effects of the crisis on healthcare systems and health in general. An analysis of past crises as well as current health and economic crisis caused by the COVID-19 pandemic and their impact on the healthcare system can facilitate the comprehension of the mechanisms of action and consequences of economic recession. It may also help identify guidelines and changes that might reduce the potential damage caused by future crises. The historical examples presented show that a crisis could trigger changes, which, in theiressence, are not necessarily negative. The response of society as a whole determines the direction of these changes, and it is up to society to transform the negative circumstances brought about by the recession into activities that contribute to general well-being and progress.

The aim of this paper is to examine the determinants of healthcare expenditure in Central and Eastern Europe (CEE) countries. The study covers the period between the years 2000 and 2018. In our research, we implement error correction based on an autoregressive distributed lag (ARDL) model, with focus on the Pooled Mean Group (PMG) estimator. Our estimation results revealed that, in combination, health spending, income, medical progress, population ageing and fiscal capacity together form a statistically significant and stable long-term economic relationship. Our analysis indicates that healthcare spending responds to both short-term and long-term income changes. The obtained results support the prevailing view that health should not be considered a luxury good with an income elasticity close to unity. In the long term, medical progress and population ageing also significantly influence health spending, whilst these variables prove to be insignificant over the short term. Ultimately, government capacity is positively related to health spending dynamics.

This study estimates the impact of health capital on economic growth in 10 Balkan countries over the 2000-2019 period. We used panel autoregressive distributed lag (ARDL) of a pooled mean group (PMG) to examine this relationship. Our results revealed that economic growth responds to short-term and long-term health capital changes. Estimation results indicate a positive relationship between health capital and the economic growth of Balkan countries. According to the results, increased health expenditure stimulates higher economic growth and development. The findings imply the need to formulate policies that assign higher priority to the healthcare sector, which would help sustain future economic growth in Balkan countries.

Managerial economics, with its specificity, provides a special insight into the management of private health care institutions. According to the sources of the Financial Agency (FINA) and the national classification of activities (8622 and 8610), the observed industry in the Republic of Croatia in 2020 contains 675 entities, out of which 9 are in special private hospitals (8610), and others are in specialist medical practice (8622). The effectiveness of managers in conditions of uncertainty and increased risk is reflected in the availability of information and their experience in similar situations. Precisely the lack of information that was present at the time of the COVID-19 pandemic indicates the effective strategic thinking of managers (owners) of the observed institutions who responded in a timely manner to market needs in these conditions. In doing so, they acted as a substitute for specialist health care because it was not able to provide adequate service to the required extent. Key words: managerial economics, private health care, COVID-19 pandemic, company, market structure