Introduction to health economics for the medical practitioner

• Published in: Postgraduate Medical Journal Vol. 79; no. 929; pp. 147 - 150
• Main Author: Kernick, D P
• Format: Journal Article Book Review
• Language: English
• Published: London The Fellowship of Postgraduate Medicine 01.03.2003; BMJ; Oxford University Press; BMJ Group
• Subjects: Biological and medical sciences; Cost-Benefit Analysis; Decision Making; economic evaluation; Economics, Medical; general practitioner; Health economics; Health participants; Humans; Hydroxymethylglutaryl-CoA Reductase Inhibitors - economics; Hydroxymethylglutaryl-CoA Reductase Inhibitors - therapeutic use; Hypercholesterolemia - drug therapy; Hypercholesterolemia - economics; Medical sciences; Program Evaluation; Public health. Hygiene; Public health. Hygiene-occupational medicine; QALY; quality adjusted life year; Quality-Adjusted Life Years; Review; Value of Life; Human; Economic analysis; Evaluation; Decision making; Physician; Metabolic diseases; Lipids; Hyperlipoproteinemia; Statin derivative; Chemotherapy; Hypercholesterolemia; Treatment; Health economy; Professional practice; Dyslipemia; Public health; Cost efficiency analysis; Antilipemic agent
• ISSN: 0032-5473; 1469-0756
• DOI: 10.1136/pmj.79.929.147

Against a background of increasing demands on limited resources, health economics is exerting an influence on decision making at all levels of health care. Health economics seeks to facilitate decision making by offering an explicit decision making framework based on the principle of efficiency. It is not the only consideration but it is an important one and practitioners will need to have an understanding of its basic principles and how it can impact on clinical decision making. This article reviews some of the basic principles of health economics and in particular economic evaluation.