Overview
The health economics of innovation is a vital field that examines how new medical technologies and treatments affect healthcare costs and patient outcomes. By analyzing the cost-effectiveness of innovations, healthcare providers and policymakers can make informed decisions that improve health while ...
Key Terms
Example: A new drug is considered cost-effective if it provides better health outcomes at a lower cost than existing treatments.
Example: Hospitals receiving bonuses for reducing readmission rates.
Example: The adoption of telemedicine during the COVID-19 pandemic.
Example: Improvement in patient quality of life after treatment.
Example: Estimating the costs of a new vaccine program over five years.
Example: Testing a new cancer drug in a controlled group of patients.