Essay What is Health Economic Analysis – Medical Science Assignment Help

Assignment Task:

Task:

What is health economic analysis? What factors would you consider when assessing the cost effectiveness of implants?

Simple outline:
1. What is of economic evaluation
A. Introduction
B. Definition of economic analysis
2. Types of economic evaluation:
A. Cost minimization analysis
B. Cost effectiveness analysis
C. Cost utility analysis
D. Cost benefit analysis
3. Important factors in assessing the best value for money
A. The most appropriate method in informing the decision
B. Define the outcome(output)
C. Define the costs of each approach
D. The coast on long term
E. Generalization of the result
F. Discussion of these factors in relation to a study Heydecke (2005).
4. conclusion

Introduction
There is growing awareness that health care resources are limited, while demand for health is unlimited. Therefore, the economic evaluation aims to answer questions that when resources are scare, what health care should provide? It should always assess whether allocation of resources is efficient and equitable, it is also desire to maximise the health from the resources which means is not possible to provide all care that is desired (rationing is inevitable) ,although some people might suffer from the decision of economic evaluation..

Definition of economic evaluation
The comparative analysis of alternative courses of action in terms of their costs and consequences
(Drummond et al., 2005)
Which means if there are two approaches of treating condition/or disease, the economic evaluation must compare the costs (input) and consequences or outcomes of different approaches. It might be the economic evaluation come to a different decision by looking to both the cost and consequences rather than just looking to the effectiveness of these programs by doing randomized control trials (RCT).