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Cost Management: The Economist's Viewpoint

Published online by Cambridge University Press:  06 August 2018

Alan Maynard
Affiliation:
Economics and Director of the Centre for Health Economics, University of York, York YO1 5DD

Extract

The role of the economist is to evaluate therapeutic options so as to identify both the value of what is given up to provide care (the cost) and the value of what is gained, in terms of improved health status (the benefit). The function of the economic evaluation is to inform choices: these will be determined by clinicians and managers. By informing the choice process, the economic calculus makes decisionmaking more ‘transparent’ and makes those who allocate resources more accountable to their peers, purchasers, and patients.

Type
Research Article
Copyright
Copyright © 1993 The Royal College of Psychiatrists 

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