HEALTH ECONOMICS

Health Economics

Health Economics

Economic evaluations should take account of patient experiences when evaluating health interventions. Discuss.

The assessment is the action to estimate, assess, calculate, or point out the value of something. Evaluation is the systematic determination of merit, the value and significance of something or someone on the basis of criteria against a set of rules. Economic evaluation is necessary for every organisation to perform. This is said because of the fact that an organisation that is investing an amount of capital would want to know that whether the amount invested efficiently utilized to its fullest potential or not. Furthermore, it is also important to identify the fact that whether the invested amount is potentially enough for the organisation to create and deliver the highest quality of products and services or not. Once the evaluation done, it is possible for the organisation to make the necessary decisions depending on the outcomes of the economic evaluation (Simmons, 2009, p. 33). For example, if more of the capital required creating and delivering the highest quality of products and services the organisation can then make the decision of whether to allocate the additional capital or not.

To increase the efficiency of health services and the appropriate use of resources, it is necessary to make the best choice among those available, in order to provide users with health services of the highest quality (Simmons, 2009, p. 33). Health systems worldwide have implemented economic evaluation studies because of the importance of proper resource management. Several economic studies created in order to provide useful tools for health management, so that these techniques must be incorporated and implemented by decision makers. The benefit of choosing an alternative from an economic analysis should have a positive impact for both the patient and the institution (Tulenko, 2009, p. 64).

It can be said that in order to successfully evaluate the health sector in terms of the amount of investments and the resulting outcomes, it is necessary to take account of the patient experiences in health interventions. This is said because of the fact that the health sector is a service industry (Tulenko, 2009, p. 64). They are providing their services to patients who are their customers. It is a norm in any service industry that in order to measure the quality of their services and in order to evaluate the performance of their services, it is necessary to evaluate the experience and the satisfaction level of the customers who are at the receiving end of these services.

As health industry is also a service providing industry, therefore, it becomes necessary for this industry, as well, to evaluate the experience and the satisfaction level of their customers, which include the patients receiving the health services (Tulenko, 2009, p. 64). If the experience and the satisfaction level of the patients are good in terms of the services they have been receiving from the health sector, it can be said that the efficiency of the health sector is also ...