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Economics in health care affects an individual’s ability to pay for and receive health care, the ability of an institution to provide health care services, and nurses’ ability to provide safe, quality care to the communities they serve.
Health economics is the application of economic principles, models and tech-niques to decision-making in healthcare (Culyer 2005, Morris et al. 2007). Healthcare costs are on the increase globally, rising faster than the rate of inflation in developed countries and consuming a large proportion of the total economy (Meltzer 2001).
The purpose of this edition is then, to widen the perception of the topic and its content amongst nurses and nurse managers, by considering some of the major theories and concepts in health economics, their implementation in policy, and impact on staff and patients.
About one out of every six dollars spent in the U.S. economy goes to some form of healthcare, including spending on physicians, nurses, dentists, hospitals, pharmaceutical drugs, and medical research scientists. Understanding the modern economy, therefore, requires an appreciation of the special economics of healthcare. 1.
This second edition of ‘Health Economics’ has been updated to take account of methodological developments in the field of economic evaluation in health care and includes a number of detailed case studies which did not appear in the first edition.
Welcome to the Office of Health Economics’ interactive e-source ‘The Economics of Health Care’. It is aimed at post-16 students of economic courses, although it contains much that should also be of interest to anyone wishing to understand the basic principles of health care economics.
Concept Definition: The process by which health care resources are allocated to consumers. In addition, health care economics can be defined as a social and behavioral science concerned with the study of how people deal with finite resources and scarcity. Two basic assumptions of health economics are 1) human behavior is goal-directed and ...
