Commodity

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Commodity (Medicine)

Commodity (pronounced: /kəˈmɒdɪti/) in the context of medicine refers to a type of good or service that is produced or provided by the healthcare industry. This can include anything from prescription drugs and medical devices to healthcare services such as surgeries or diagnostic tests.

Etymology

The term "commodity" originates from the Latin word "commoditas", meaning "suitability, convenience, advantage". In the context of healthcare, it refers to the commercial nature of many aspects of the medical industry.

Related Terms

  • Healthcare Industry: The sector of the economy that provides goods and services to treat patients with curative, preventive, rehabilitative, and palliative care.
  • Prescription Drug: A pharmaceutical drug that legally requires a medical prescription to be dispensed.
  • Medical Device: Any device intended to be used for medical purposes.
  • Diagnostic Test: A procedure performed to confirm or determine the presence of disease in an individual suspected of having a disease, usually following the report of symptoms, or based on other medical test results.

See Also

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