Economics in health care - Health Economics

Content:

Firstly, I would like to thank Dr.Johnson for his series of lectures which envisioned me the scope of economics in health and health care. To me, Economics is how efficiently resources are utilized in a given place. Economics guides the rules which explain the behavior of people who pursue (and compete with others for) the limited resources (goods, currency, health, etc.) within a society.Many of the healthcare economic principles focus on how people make decisions related to expenditures for the health given competing alternative (e.g., food, clothing, housing, hobbies, travel, education, etc.).

Micro-Economic evaluation of a given health care system can be done using - Cost Effectiveness analysis, Cost Minimization analysis, Cost Utility analysis, Cost Benefit analysis. The workbook gave me a good understanding of these types of financial analysis. I accomplished a broad overview of various types of costs and benefits that define a health care event, various perspectives and concept of discount rate from the lecture. I have never got a chance to explore various cutting edges in economics and hope this lecture would drive me further in knowing much more about economics and health care.
Posted by
Harsha Undapalli