Akademik Məlumat İdarəetmə Sistemi
JOURNAL OF ECONOMIC AND SOCIAL DEVELOPMENT, vol.758, no.3, pp.687-693, 2020 (Conference Book)
The medical business is one of the most profitable types of business activities. In Azerbaijan, its development became possible afterthe country's independence and the transition to a market economy. On the other hand, the economic crisis in the country created the conditions for attracting private capital to healthcare. The article provides information on the main types of medical business developing in the country, which include medical and diagnostic business, pharmacy and pharmacological business, voluntary medical insurance, which is a financial mechanism for managing risks associated with impaired human health, etc. The state encourages the development of private medicine, which in most cases does not play a complementary, but a substitute role for public medicine. Azerbaijan is characterized by a wide network of private medical and diagnostic institutions with a concentration in the capital. An important problem is the redirection of the flow of patients from state medical institutions to private ones, where doctors can earn more and patients have access to better equipment, as well as the quality of medical services. Corporate voluntary health insurance is growing rapidly. The development of individual voluntary medical insurance is hindered by high package prices, lack of culture, insurance promotion, and compulsory medical insurance. The main feature of the modern pharmaceutical market of Azerbaijan is a weak pharmaceutical industry, however, positive dynamics is observed in the development of the industry. The country's market has great potential for the development of the medical business, and this, along with its favorable geographical position, makes it interesting for foreign investors. At the same time, the devaluation of 2015 made it possible to more deeply feel the need to support local producers, both in the economic and social context