By now I hope you realize that week by week we are addressing all of the PEEEL disciplines. Please keep discipline-specific in mind when you complete the discussion and assignments. When approaching issues related to monetary impact, it is important to note that economics does not work in public health the way that it does in business. This is because businesses are regulated by the nature of supply and demand. Typically, the more demand there is for a product, the higher the price.
If there is less demand, either the price will likely reduce or the product will be taken off the market. In public health, this is not the case. The cost of an intervention may or may not increase due to higher demand. Likewise, the production or implementation of interventions may not decrease due to low-profit margins. For example, even though pharmaceutical companies made little to no money producing influenza vaccines, regulatory and governmental bodies can mandate that these companies continue production for the common good of the general public.
In this Discussion, you conduct a cost-effectiveness analysis to determine the feasibility of interventions, which you identified in your ”Conducting Research” assignment for your Scholar-Practitioner Project. As you approach this Discussion, it is critical to remember that public health economics is not about making a profit. Rather, it is about the allocation of budgetary resources as a means to promote long-term savings and positive health outcomes. As you conduct your cost-effectiveness analysis, ask yourself the following questions: How economically feasible is the intervention?
What are the long-term savings of the intervention? How do the potential health outcomes outweigh the costs of the intervention? To prepare for this Discussion, conduct a cost-effectiveness analysis on the one current and one alternative intervention identified in your “Conducting Research” assignment for your Scholar-Practitioner Project. Based on this analysis, consider the costs associated with and health outcomes of implementing each. Refer to Chapter 3 of your course text to assist you in conducting your analysis.
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