EC248 Lecture Notes - Lecture 4: Economic Evaluation, Health Professional, Social Cost
Document Summary
Ec 248 economics of health chapter 4. Systematic, comparative analysis of two (or more) courses of actions in terms of both their costs and their consequences in order to identify which is more efficient. Systematic: analysis is done within a unified framework that articulates the relevant components of the analysis, how they relate to each other, and how the analysis should be conducted. Course of action: a particular health care policy, program or intervention. Comparative: at least two alternatives are compared against each other. Decision that must be made before analysis begins. Before undertaking economic evaluation, there are three decisions to be made: policy objective, the relevant policy alternatives, and the viewpoint. The ultimate objective is to produce health or health-related welfare. Refers to the perspective adopted for economic evaluation; set of people and organizations whose costs and benefits are included in the evaluation.
