Global Health Expenditure is increasing… A recent global health report from IHME[1] reported that global health expenditure had reached a whopping $8.4 trillion in 2018. The majority of this (59.4%) was government health spending. However, prepaid private...
Economics and Value Based Healthcare Responses to last week’s blog on efficiency prompted me to turn my attention to the wider issue of value. Market Pricing Economists generally think the value of a good or service is synonymous with the market price....
Economic Efficiency According to Wikipedia, efficiency is “the (often measurable) ability to avoid wasting materials, energy, efforts, money, and time in doing something or in producing the desired result” [1]. From an economics perspective, economic efficiency...
Health Professionals Health professionals are expensive to train, recruit, and provide cover for when absent. This article looks at the economic value and cost to the health system when health professionals are themselves unwell. The results of the 2021 NHS...
Workforce Planning Workforce planning in healthcare isn’t just about getting the numbers right, it is about maximising return on investment. Support of the workforce is vital if we are to keep up with demand and improve population health. It has become...
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