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What Are The Three Primary Economic Challenges In Healthcare

999 Words4 Pages

The healthcare system faces numerous economic challenges that significantly affect resource allocation, disease prevention, and health promotion. David Parkin (2017) identifies three primary economic challenges: rising healthcare costs, limited resources, and increasing demand for healthcare services. These challenges necessitate strategic approaches to resource allocation, which directly impact the effectiveness and equity of disease prevention and health promotion programs. This essay explores these economic challenges, the approaches used for resource allocation, and the consequences of these decisions on health outcomes, efficiency, and equity. Economic Challenges to the Healthcare System Rising Health Care Costs: Health care costs have …show more content…

This increasing demand exacerbates the challenge of limited resources and heightens the need for efficient allocation (Parkin, 2017). Approaches to Resource Allocation in Healthcare Given these economic challenges, various approaches are employed to allocate resources in health care. These approaches include: Cost-Effectiveness Analysis (CEA): CEA compares different interventions' relative costs and outcomes. By assessing the cost per unit of health benefit (e.g., cost per quality-adjusted life year), policymakers can prioritize interventions that provide the most significant benefit for the lowest cost (Parkin, 2017). Budget Impact Analysis (BIA): BIA evaluates the financial impact of adopting new interventions within a specific budget context. Given current budget constraints, this analysis helps determine whether an intervention is affordable and sustainable (Parkin, …show more content…

(2017). The 'Paint of the 'Paint of the 'Paint of the 'Paint of the 'Paint of the 'Paint of the ' Assessing the performance of the program. In Medical Sociology, Social Policy and Health Economics. Accessed at: http://www.healthknowledge.org.uk/public-health-textbook/medical-sociology-policy-economics/4d-health-economics/assessing-performance. Parkin, D. (2017). The 'Paint of the 'Paint of the 'Paint of the 'Paint of the 'Paint of the 'Paint of the 'Paint of the ' Financial resource allocation - a.k.a. In Medical Sociology, Social Policy and Health Economics. Accessed at: http://www.healthknowledge.org.uk/public-health-textbook/medical-sociology-policy-economics/4d-health-economics/financial-resource-allocation. Parkin, D. (2017). The 'Paint of the 'Paint of the 'Paint of the 'Paint of the 'Paint of the 'Paint of the ' Systems of health and social care and the roles of incentives to achieve desired end-points. In Medical Sociology, Social Policy and Health Economics. Accessed at:

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