Health economics is a field that takes the basic ideas of economics: i) scarcity – there are never enough resources to do all the things we would wish to and ii) opportunity cost – whenever we make a decision to invest in a service, we at the same time are also making the decision not to invest in something else, and applies them to health and healthcare. Its ambition is to maximise the benefit that can be gained from the finite resources (people, money, time) that we have available.
The lecture will present the basic ideas of health economics (how to measure the value an intervention provides, how to reconcile the different priorities of clinicians, patients and the public, how to priorities resources between very different interventions/areas of health), and show how these can be used to help inform decision making, and evaluate the impact of different possible policy alternative.
– How do we measure outcomes in health economics?
– How do we measure costs in health economics?
– How can health economics help to inform clinical and policy decisions?
Disclosure of Interest None declared