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Related Experiment Videos

Economic evaluation: what does a nurse manager need to know?

Hannah-Rose Douglas1, Charles Normand

  • 1London School of Hygiene and Tropical Medicine, London, UK.

Journal of Nursing Management
|August 20, 2005
PubMed
Summary

Health economists can help nurse managers make better resource allocation decisions using economic evaluation. These methods compare costs and consequences to maximize health gains, aiding in efficient healthcare delivery.

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Area of Science:

  • Health Economics
  • Healthcare Management
  • Health Services Research

Background:

  • Economic evaluation is crucial for healthcare decision-making.
  • Nurse managers face increasing pressure to justify resource allocation.
  • Understanding economic evaluation tools can empower nurse managers.

Purpose of the Study:

  • To clarify the role of economic evaluation for nurse managers.
  • To demystify economic evaluation concepts and their application.
  • To highlight the importance of economic evaluation in healthcare resource allocation.

Main Methods:

  • Review of economic evaluation techniques (cost-minimization, cost-effectiveness, cost-utility, cost-benefit analysis).
  • Exploration of national (NICE) and local (PBMA) applications.

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  • Analysis of how these methods inform resource allocation decisions.

    • Main Results:

    • Economic evaluation provides a systematic framework for analyzing healthcare decisions.
    • Techniques like PBMA enable transparent, bottom-up resource allocation.
    • Economic evaluation challenges or supports existing resource allocations.

    Conclusions:

    • Nurse managers must embrace economic evaluation to remain relevant in resource allocation.
    • These techniques help maximize health gains from scarce resources.
    • Economic evaluation is vital for efficient and effective healthcare provision.