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Notes Ch01 Intro

Notes Ch01 Intro

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Published by Katherine Sauer

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Published by: Katherine Sauer on Jan 04, 2012
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 Dr. Katie Sauer  Health Economics
Introduction to Health EconomicsChapter 1Outline:I. What is Health Economics?II. The Relevance of Health EconomicsIII. Economic Methods of AnalysisIV. Does Economics Really Apply to Health Care?V. Is health care so different that it needs its own branch of economics? ____________________________________________________________________ I. What is Health Economics?Health economics is the study of how (scarce) resources are allocated to and within thehealth economy.Who are the health economists?- 96% hold Ph.D.s, nearly ¾ in economics- 64% work in a university setting (24% in econ departments, 26% in publichealth, 18% in med schools)- 15% work for nonprofit organizations and-12% work for government (mostly federal)What do health economists do?50% study the behavior of individuals34% study the behavior of firms50% study government policies48% study health insurance50% study outcomes research31% study other issuesII. The Relevance of Health EconomicsHealth Spending in the US National Health Expenditures (NHE)
Source: Centers for  Medicare and Medicaid Services , Offices of the Actuary: Data from the National Health StatisticsGroup
 
http://www.cms.hhs.gov/  NationalHealthExpendData/ 
 
 
Health Care Spending as a share of GDP
Source: OECD Health Data 2008
In a
 share
calculation, general inflation is cancelled out.Why has the health care share been increasing?Per Capita Expenditures on Health Care (PPP$)
Source: OECD Health Data 2008
 
 
Health Care and the Labor Force (2007)
Source:
 
 BLS.gov
Capital Investment
Source: OECD Health Data 2008
III. Economic Methods of AnalysisA. Features of Economic Analysis- Scarcity of societal resources- Assumption of rational decision making- Concept of marginal analysis- Use of economic models

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