Lecture_10_2009 - Economic Analysis of Health Projects...

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1 Economic Analysis of Health Projects Book, Chapter 9 Asian Development Bank, Guidelines for Health Projects http://www.adb.org/Documents/Handbooks/Health_Sector_Projects/
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2 Economic Analysis of Health Projects Health and Physical Well-Being is important for maintenance of human capital Public intervention is justified by various factors: economies of scale, poverty alleviation, “public goods” Public intervention should be as efficient as possible in order to maximize the benefits and minimize the costs.
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4 Economic Analysis of Health Projects Is sometimes controversial since it involves placing values on changes in health outcomes. However, it is useful and applied everywhere. Economic analysis in the health sector often deals with finding the most efficient project to meet government objectives for the health of the population.
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5 Analytical Tools for Economic Analysis in Health Cost-Benefit Analysis health benefits/outcomes are required to be valued in monetary terms Cost Effectiveness Analysis Weighted Cost Effectiveness Analysis
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6 Possible Analytical Tools Broader definition of effects; weighted cost- effectiveness analysis
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7 Steps in Economic Analysis of Health Project Understand the Setting: economic setting + health sector Define the objective Define the alternatives Choose the method CE, weighted CE, CBA If CE or weighted CE: Choose a discount rate Estimate costs Define the indicator for health impacts Estimate health impacts Estimate CE ratio Assess distributional issues and fiscal impacts Decide upon alternatives / Decide go ahead or not
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8 Understanding the Setting Before undertaking the analysis, there has to be a clear understanding of: The economic setting The Health Sector in the country/location
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9 Understanding the Health Sector Epidemiological Profile: health status of population Public Expenditures: trends, types of services, priorities Financing Mechanism: who pays what Demand: baseline utilization rates; elasticity – how demand for medical services changes with price
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Project Objective At the early stage of a project analysis, there has to be a clear understanding of the project goals: what aspect of health the project aims to improve. e.g. building a new hospital is not a goal
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Lecture_10_2009 - Economic Analysis of Health Projects...

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