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Considerations Regarding 111e Economic Models For The Evaluation Of Health

Author

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  • Bianca Mihart Ph. D Student

    (University of Craiova Faculty of Economics and Business Administration Craiova, Romania)

Abstract

Defining and understanding the concept of health” is established as an essential step in todaVs world. The notion falls under the influence of numerous factors, mostly of economic nature, that determine the achievement of an optimum in terms of the actual purpose, namely health. In order to asses the economic value of health some specific economic models have been outlined, and they aim to appraise the monetary and non monetary values of health. By considering health a commodity, the economic models of health try to mathematically determine medical and non medical outcomes using methods derived from microeconomics, such as: cost-benefit analysis, cost-efficiency analysis, cost-utility analysis and the cost minimization model. These models employ their own set of particular indicators and although results frequently vary, pointing out the obvious limitation of each method, the answers they offer policy makers and individuals alike, become points of action for all parties involved and fundamentals for any future decision in the fields of health arid healthcare. This paper aims to highlight the causes that have led to the need for developing economic evaluation models of health and also to assess the benefits, disadvantages and limitations of each model.

Suggested Citation

  • Bianca Mihart Ph. D Student, 2011. "Considerations Regarding 111e Economic Models For The Evaluation Of Health," Annals of University of Craiova - Economic Sciences Series, University of Craiova, Faculty of Economics and Business Administration, vol. 4(39), pages 37-48, May.
    • Handle: RePEc:aio:aucsse:v:1:y:2011:i:12:p:37-48
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    File URL: http://feaa.ucv.ro/AUCSSE/0039v4-006.pdf
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    More about this item

    Keywords

    health evaluation; economic models for health; health outcomes; monetary value of health;
    All these keywords.

    JEL classification:

    • I1 - Health, Education, and Welfare - - Health
    • I11 - Health, Education, and Welfare - - Health - - - Analysis of Health Care Markets
    • I18 - Health, Education, and Welfare - - Health - - - Government Policy; Regulation; Public Health

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