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Exploring the link between health and wealth in decision making

Author

Listed:
  • Garau, M.
  • Shah, K.
  • Sharma, P.
  • Towse, A.

Abstract

Traditionally, decision makers both within and outside the health sector have thought of the value of health interventions primarily in terms of reduced morbidity or mortality. Health care, however, produces wealth effects outside the health care sector—for example, improvement in labour productivity for both patients and caregivers, cost savings in health and social care and other sectors, and an increase in national income. These wealth effects are considered infrequently, at best, in government decisions outside health agencies. The extent to which these wealth effects have had an impact on the advice given by health technology assessment (HTA) bodies or on budget setting in other government departments has not been explored fully. With that in mind, this research was intended to examine whether the wealth effects of one type of health care—prescription medicine interventions—are considered in resource allocations and, if not, why not.

Suggested Citation

  • Garau, M. & Shah, K. & Sharma, P. & Towse, A., 2013. "Exploring the link between health and wealth in decision making," Research Papers 000037, Office of Health Economics.
  • Handle: RePEc:ohe:respap:000037
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    File URL: https://www.ohe.org/system/files/private/publications/383%20-%20Link%20Between%20Health%20and%20Wealth%20RP%20Garau%202013.pdf
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    References listed on IDEAS

    as
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    5. Gisela Kobelt, 2004. "Economic evidence in multiple sclerosis: a review," The European Journal of Health Economics, Springer;Deutsche Gesellschaft für Gesundheitsökonomie (DGGÖ), vol. 5(1), pages 54-62, October.
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    7. Knowles, Stephen & Owen, P Dorian, 1997. "Education and Health in an Effective-Labour Empirical Growth Model," The Economic Record, The Economic Society of Australia, vol. 73(223), pages 314-328, December.
    8. Johannesson, M. & Jonsson, B. & Jonsson, L. & Kobelt, G. & Zethraeus, N., 2009. "Why Should Economic Evaluations of Medical Innovations Have a Societal Perspective?," Briefings 000228, Office of Health Economics.
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    More about this item

    Keywords

    Judging value for money and improving decision making;

    JEL classification:

    • I1 - Health, Education, and Welfare - - Health

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