Qigong has been around for more than 4,000 years. It contains aspects of martial arts, philosophy, theology, mindfulness, meditation, exercise, and Traditional Chinese Medicine (TCM). It is a subfield of both tai chi and health economics. Practicing qigong exercises on a regular basis can improve health and cause the body to function more efficiently. Thus, it is also a subfield of applied microeconomics in the sense that it increases efficiency. Numerous medical studies have been done on the effect of qigong and tai chi on various health conditions. The present paper presents a brief overview of some recent applications of qigong to the treatment of various diseases.