CONSIDERATIONS REGARDING THE ECONOMIC MODELS FOR THE EVALUATIONS OF HEALTH
CONSIDERATIONS REGARDING THE ECONOMIC MODELS FOR THE EVALUATIONS OF HEALTH

Summary/Abstract: Defining and understanding the concept of "health" is established as an essential step in today's world. The notion falls under the influence of numerous factors, mostly of economic nature, that determine the achievement of an optimum in terms of the actual purpose, namely health. In order to asses the economic value of health some specific economic models have been outlined, and they aim to appraise the monetary and non monetary values of health. By considering health a commodity, the economic models of health try to mathematically determine medical and non medical outcomes using methods derived from microeconomics, such as: cost-benefit analysis, cost-efficiency analysis, cost-utility analysis and the cost minimization model. These models employ their own set of particular indicators and although results frequently vary, pointing out the obvious limitations of each method, the answers they offer policy makers and individuals alike, become points of action for all health and healthcare. This paper aims to highlight the causes that have led to the assess the benefits, disadvantages and limitations of each model.

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