Economic evaluation of healthcare
A CPD article helped Sue Morris update her understanding of assessing value for money in healthcare services
A CPD article helped Sue Morris update her understanding of assessing value for money in healthcare services.
I am preparing for a return to practice course, and the CPD article enabled me to update my understanding of financial issues in the NHS.
Economic evaluation of health care is essential if the NHS is to survive. Current healthcare spending levels are unsustainable. Decisions regarding where and on what we spend should be based on effectiveness and availability of limited resources. We want more benefits for the same financial outlay.
Economic evaluation provides a framework to contain costs and manage healthcare demand, enabling money to be invested in areas that offer value, and ensuring the greatest long-term health improvements. It is a useful tool in decision making.
This reflective account is based on NS768 McFarland A (2014) Economic evaluation of interventions in health care. Nursing Standard. 29, 10, 49-58.