Using economics to improve health and healthcare
This module will provide a basic introduction to three key areas of health economics: the financing of healthcare, economic evaluation of healthcare technologies, and the evaluation of healthcare policies. These objectives will be supported by an introduction to fundamental economic concepts and their relevance to decisions concerning the financing, allocation, and evaluation of health care.
Participants will be able to understand the high-level differences between types of healthcare system financing, critically appraise health economic studies, and will understand how healthcare policies may be evaluated. Successful completion of the course will support engagement with health economists and policy advisors when working with them as advisors, colleagues or research collaborators.
This module will cover:
- Economics applied to health and healthcare - an overview of key concepts in economic theory and their application in healthcare
- Market failures in healthcare – asymmetric information, moral hazard and adverse selection
- Healthcare financing – different models of healthcare systems as a response to market failures and policy challenges
- Alternative approaches to the allocation of health care resources. Distributing health-care according to need and different perspectives for defining need.
- Conducting and appraising economic evaluations - An overview of the principles of economic evaluation, and the methods used to measure and value costs and benefits of healthcare
- Decision modelling and representations of uncertainty in economic evaluation - An overview of the need for modelling in economic evaluation, the methods used for economic models, and how decision uncertainty is presented in economic evaluation
- Economic techniques that can be applied to the evaluation of public health policies and programmes.