Health Economics - Analyzing Healthcare Resource Allocation

Health economics studies the allocation of healthcare resources to understand economic factors influencing healthcare services and policies.
Related products/activities
Application
Resource Allocation | Economic Evaluation | Health Policy Development | Healthcare Policy Analysis
Prepared by Shruti Sahoo, reviewed by Dr. Eugene Smith

Health Economics FAQ


Image credit: penguin.com.au

What is health care economics?

According to Harvard Medical School faculty, health care economics can be approached from six key areas: spending growth, role of the patient, role of the health care provider, risk and insurance impact, benefits design, and payment reform [ 3 ].

What does a health economist do?

In broad terms, health economists study the functioning of healthcare systems and health-affecting behaviors such as smoking, diabetes, and obesity. One of the biggest difficulties regarding healthcare economics is that it does not follow normal rules for economics.

Is health economics a subdiscipline?

T. Van Ourti, ... P. Clarke, in Encyclopedia of Health Economics, 2014 Health economics is a relatively young subdiscipline, and the measurement of inequalities in the health domain has only relatively recently received attention from health economists.

What is the scope of Health Economics?

In alignment with the previous definitions, Muniswamy ( 2017) agreed that the scope of health economics includes the connection between an individual’s health status and productivity, the financial aspect of health services, the economic decision-making in healthcare institutions, and the planning of health and other developments.

Why is health economics important?

Health economics is important in determining how to improve health outcomes and lifestyle patterns through interactions between individuals, healthcare providers and clinical settings. In broad terms, health economists study the functioning of healthcare systems and health-affecting behaviors such as smoking, diabetes, and obesity.

What is health economics & economic evaluation?

Relevance Health economics and economic evaluation are two important fields. Their theoretical perspectives and empirical methodology are essential for health care workers, health and medical professionals, health policy makers and others who wish to pursue a professional career in health.

What is a health economics unit?

The Health Economics Unit at the Centre for Health Policy, The University of Melbourne is a small, highly skilled group of health economists. The research team undertakes a range of economic evaluation, health systems research, simulation modelling and risk prediction, health inequality, and methodological research.

Health Economics References

If you want to know more about Health Economics, consider exploring links below:

Explore Related Topics

How do clinicians navigate the decision-making process when considering antibiotics-augmented antiviral therapy for patients with complex infections?

Dive into the complexities of clinical decision-making when deciding to combine antibiotics with antiviral therapy for patients with intricate infections, exploring factors such as diagnostic uncertainty, patient-specific variables, and therapeutic goals.