WHAT ARE POTENTIAL ADVANTAGES AND DISADVANTAGES IN USING A ECONOMIC EVALUATION TO INFORM HEALTH POLICY DECISION ?
ANSWER WITH SPECIFIC REFERENCE TO MIDDLE INCOME COUNTRIES
I. The role of Economic Evaluation in health sector
I. Methods most used in Economic Evaluation in health sector
III.1 Cost – Benefit Analysis
III.2 Cost – Effective Analysis
III.3 Cost – Utility Analysis
I. Case Discussion
I. Issues on Economic Evaluation in health sector
Economic Evaluation (EE) is an essential methodology that is being used in every sector of the economy. Each interventions implies different cost and effects. In order to decide which of the interventions, or which combinations of interventions , brings the best result we might use EE.
EE of health care programmes and treatments have been conducted for the last 30 years.The need to use the EE in Health care was forcefully brought out in an article titled ‘Is too much being spend on AIDS’ by an economist Joel Hay (1989). The major point of Hay’s article is that the marginal gains from research on AIDS, a relatively new disease, could be greater than the marginal benefits of additional spending on established diseases. So rational decision are needed if we are to allocate public spending both within health care and across categories of public spending. As Hay concluded there is an urgent need ‘to begin the painful process of determining which lines of biomedical research, prevention, education and patient care activities are cost-effective and then using these guidelines to make tough choices about allocating resources’
From this point of view, in this essay I will try to explain EE as the best method to help health policy decision on answering the questions that arise in above mentioned article.
The primary goals of this essay are to develop the basic principles of the role of the EE...