What is health economics?
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Health economics uses economic concepts and methods to understand and explain how people make decisions regarding their health behaviours and use of health care. It also provides a framework for thinking about how society should allocate its limited health resources to meet people’s demand/need for health care services, health promotion and prevention.
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1) Health economics lies at the interface between health/medicine and economics. It applies economic principles to issues relating to health.
2) Resources for the health sector are limited, so health economics studies how scarce resources are allocated among alternative uses in health care at both the micro and macro levels. This involves weighing the costs and benefits of different options.
3) Topics related to health economics include the production and demand of health and health services, health economic evaluation, health insurance, and the analysis of health care markets.
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Health economics deals with planning and budgeting for healthcare resources. It determines the price and quantity of limited financial and non-financial resources used to care for the sick and promote health. Health economics uses microeconomics and macroeconomics principles. Microeconomics examines individual and organizational behaviors and their effects on costs and resource allocation. Macroeconomics considers large-scale economic factors like GDP. Economic analyses in health include cost-minimization, cost-benefit, cost-effectiveness, and cost-utility analyses. Nurses play an important role in health economics by leading cost containment efforts, improving quality of care, and advocating for patients' needs.
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- Doctors have an ethical duty to patients but must also consider opportunity costs and distribute resources equitably.
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1) Health economics lies at the interface between health/medicine and economics. It applies economic principles to issues relating to health.
2) Resources for the health sector are limited, so health economics studies how scarce resources are allocated among alternative uses in health care at both the micro and macro levels. This involves weighing the costs and benefits of different options.
3) Topics related to health economics include the production and demand of health and health services, health economic evaluation, health insurance, and the analysis of health care markets.
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Health economics deals with planning and budgeting for healthcare resources. It determines the price and quantity of limited financial and non-financial resources used to care for the sick and promote health. Health economics uses microeconomics and macroeconomics principles. Microeconomics examines individual and organizational behaviors and their effects on costs and resource allocation. Macroeconomics considers large-scale economic factors like GDP. Economic analyses in health include cost-minimization, cost-benefit, cost-effectiveness, and cost-utility analyses. Nurses play an important role in health economics by leading cost containment efforts, improving quality of care, and advocating for patients' needs.
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This document summarizes a presentation on health economics. It discusses the history and evolution of the field, principles of health economics including costs, efficiency, and equity. It also describes the four main types of economic evaluation used in health - cost-effectiveness analysis, cost-utility analysis, cost-benefit analysis, and cost-minimization analysis. The document then reviews the current status and challenges of economic evaluations in India and discusses the role of health technology assessment. It concludes by thanking the audience and providing details on the next week's presentation.
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This document discusses several topics in health economics including:
- Health care resources are limited and an economic viewpoint is needed to allocate them effectively.
- There is a difference between positive economics, which analyzes what is, and normative economics, which makes subjective value judgments.
- Doctors have an ethical duty to patients but must also consider opportunity costs and distribute resources equitably.
- Measures like QALYs try to assess health outcomes and value of life in economic terms to inform resource allocation decisions but are imperfect.
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The document defines health economics as the application of economic principles to the health care system. It discusses key concepts in health economics including supply and demand of health care, costs associated with health care like fixed vs variable costs, and methods of economic evaluation used in health care planning like cost-benefit analysis. The document also outlines factors that influence health expenditures like changing demographics and disease patterns, new technologies, and rising public expectations. Overall, the document provides a broad overview of the basic concepts and scope of health economics as a field of study.
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- Health and healthcare resources are scarce and societies must make choices about allocating them.
- Individuals demand health because it provides utility and the ability to work, and they produce health through behaviors and medical care as one input.
- Societies face trade-offs in allocating resources between medical vs. non-medical goods, treatments vs. prevention, and equity vs. efficiency.
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This document discusses key concepts in health economics, including:
- Scarcity of resources and unlimited wants create economic problems that require choices in allocating limited resources.
- Health economics applies economic theories to analyze the health sector, including demand and supply of health care, financing, and resource allocation.
- Health economics is relevant for health workers and policymakers to understand patient utility, predict behavior, support planning and policymaking, and promote efficient use of limited health resources.
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The document defines health economics as the application of economic principles to the health care system. It discusses key concepts in health economics including supply and demand of health care, costs associated with health care like fixed vs variable costs, and methods of economic evaluation used in health care planning like cost-benefit analysis. The document also outlines factors that influence health expenditures like changing demographics and disease patterns, new technologies, and rising public expectations. Overall, the document provides a broad overview of the basic concepts and scope of health economics as a field of study.
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This document discusses key concepts in health economics. It defines health economics as analyzing the production, distribution, and consumption of health care resources and services. Some main points covered include:
- Health and healthcare resources are scarce and societies must make choices about allocating them.
- Individuals demand health because it provides utility and the ability to work, and they produce health through behaviors and medical care as one input.
- Societies face trade-offs in allocating resources between medical vs. non-medical goods, treatments vs. prevention, and equity vs. efficiency.
Principles of health economics
This document discusses key concepts in health economics, including:
- Scarcity of resources and unlimited wants create economic problems that require choices in allocating limited resources.
- Health economics applies economic theories to analyze the health sector, including demand and supply of health care, financing, and resource allocation.
- Health economics is relevant for health workers and policymakers to understand patient utility, predict behavior, support planning and policymaking, and promote efficient use of limited health resources.
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Supply of health and medical care
Supply of health and medical care
Definition and Law of Supply.
The health care production function.
Cost production in health care.
Factors determine price and quantity of health care.
Factors affecting Supply.
Investment on healthcare.
Health insurance and supply in healthcare.
Market Equilibrium.
References
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The document discusses health technology and health technology assessment. It begins by defining health, technology, and health technology. It then discusses how health technologies are used at various levels of healthcare. The purpose of health technology includes developing frameworks for safe services and technologies. Areas of health technology include essential medicines and medical devices. Health technology assessment systematically evaluates health technologies and informs policymaking. It discusses the steps, purposes, and expertise involved in health technology assessment. The document also discusses health technologies and decision making, analyzing barriers and facilitators of evidence-based decision making in healthcare. It provides an example of a research article on physicians' and students' strategies for health information seeking after introducing digital libraries and technologies in Iranian hospitals.
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The demographic features of the 2011census of India have revealed that India is the second largest country next to China in terms of working age population (25 - 50 years) in the world. It has been known that the country’s economic growth is based on both natural and human resources available in the country. Still, there are more avenues for effective and efficient use of labour-productivity in this age group. It is well conceived by the theory that the human resources are the biggest contributor of economic growth which is augmented by a process of human capital formation. Of late, health and education have been viewed as the two dimensions of human capital which are treated as an indicator of social welfare. The variations in health status of different age groups in market and non-market labour productivities are still prevalent in many developing countries. The low health status persons contribute less to human capital formation than of others (Behrman and Deolalikar, 1988). According to them, “Health is a state of complete physical, mental and social wellbeing and not merely the absence of disease or infirmity”. Therefore, it cannot be purchased by the consumers in the market as we do for other goods and services in the market. On the other hand, it can be produced by spending time upon health improving activities, as well as, purchasing medical inputs (Grossman M., 1972). Behrman has pointed out that there is an inverse relationship between low health status and human capital formation. Therefore, the economists have focused their attention to study the determinants and impact of health status on economic growth. The present study attempts to analyse the human capital investment and its impact of socio- economic status on human resources (HR) in Chennai district, Tamil Nadu. To aid our research effort, an extensive literature has also been reviewed in an attempt to answer various queries raised. On the basis of the statement of problems, the research questionnaires have been canvassed among the respondents to obtain the information. This study is based on databases obtained both from primary and secondary sources. The information through primary sources has been collected with the help of interview schedule. The secondary data on Human Capital Investment and the Impact of Socio- Economic Status on Human Resources have been collected from various sources in Chennai City. In the health sector, this study focuses its attention to reporting illness, amount spent, days lost. Some of the opted econometric techniques have been used to examine the objectives of the study. Our empirical strategy has applied the following tools of analysis. The statistical tools like OLS, PROBIT and LOGIT techniques are used to analyze the indicator ‘selfreported illnesses. And, ‘Health expenditure’ and ‘number of days lost’ are estimated by OLS and TOBIT techniques, besides by applying correlation, regression analysis.
Hlth eco
Good health is a fundamental right, and health economics deals with issues related to the production, distribution, and consumption of health and healthcare. It examines supply and demand factors at both the micro and macro levels. Microeconomics focuses on individual and organizational behaviors and their effects on prices and resource allocation. Macroeconomics analyzes overall economic metrics like GDP. Health economics applies these principles to evaluate healthcare policies, costs, benefits and resource allocation from an economic perspective. Nurses play an important role by recognizing resource constraints and engaging in efforts to improve quality and reduce costs.
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The document discusses the interdependence of health systems and how their components work together to promote health. It defines a health system as including resources, organization, financing, and management that work in an interrelated way to maintain and restore people's health. Values and beliefs shape how health systems are structured and influence areas like resources and how care is delivered. Capitalism has led to viewing health as an economic good rather than a public resource, influencing payment models and priorities. Cultural factors between patients and providers also impact care delivery.
hsmmm.pptx
This document discusses existing and emerging health issues in Ethiopia. It notes that while Ethiopia has made improvements in health indicators, challenges remain like neonatal mortality, under-5 deaths, and maternal mortality. Emerging issues like COVID-19 also impact health. The building blocks of the health system are described, including health service delivery, workforce, information systems, access to medicines, financing, and leadership. National health policy in Ethiopia focuses on decentralization and developing preventive care. Strategies under the Health Sector Transformation Plan aim to improve quality, equity, and universal health coverage. Reforms introduced revenue retention and exemptions to improve access.
Outcomes, health economics and pharmacoeconomics
This document discusses outcomes research, health economics, and pharmacoeconomics. It begins by defining outcomes research as the study of the end results of medical interventions to see if they improve patient health and well-being. It then discusses how outcomes research focuses on themes like quality of life, effectiveness, and guidelines. Health economics is introduced as concerned with efficiency, value, and behavior in healthcare production and consumption. The document outlines key concepts in health economics like efficiency, equity, utility, cost, and marginal costs and benefits. Finally, pharmacoeconomics is positioned as a sub-discipline of health economics dealing with the economic relationships of drug research, production, and pricing.
An Introduction to Health Systems; An Overview of the Philippine Health Care ...
The document provides an overview of the Philippine health care system and health systems thinking using the WHO health systems framework. It introduces concepts of health systems, leadership and governance in the Philippines, health financing sources and challenges, and human resources for health. The Department of Health is the lead agency for health care and aims to ensure accessibility and quality, but the system faces issues of inequitable financing that relies heavily on out-of-pocket costs and a lack of incentives and uneven distribution of human resources for health.
foundationsofpublichealth2.ppt
This document provides an outline for a class on foundations of public health. It includes an overview of the course schedule and topics to be covered each day, such as the core contents and evolution of public health understanding. It also lists pop quiz questions that will be asked to assess students' understanding of key public health concepts like the core functions and subjects of public health. Finally, it discusses the role of academic public health and provides context on current public health issues such as health care spending in the US and how resources are distributed.
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- 1. 1/11/2020 What is Health Economics and Economic Evaluation? : Melbourne School of Population and Global Health https://mspgh.unimelb.edu.au/centres-institutes/centre-for-health-policy/research-group/health-economics/study/what-is-health-economics-and-economic-evaluation 1/2 What is Health Economics and Economic Evaluation? What is Health Economics and EconomicWhat is Health Economics and Economic Evaluation?Evaluation? What is health economics? Health economics uses economic concepts and methods to understand and explain how people make decisions regarding their health behaviours and use of health care. It also provides a framework for thinking about how society should allocate its limited health resources to meet people’s demand/need for health care services, health promotion and prevention. What is economic evaluation? Economic evaluation is closely related to health economics. Economic evaluation generates evidence-based information, mainly through cost-effectiveness analysis or cost-benefit analysis, to assist and improve decision making of allocating health care resources. All public health decisions have resource implementations and it is critical to consider these when making decisions. 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.