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Global Health Economics: Concepts and Applications

Explore the fundamental concepts of health economics with real-world examples and applications. Understand the impact of economic factors on healthcare systems globally and the interplay between health and wealth. Examine key issues in global health economics, from supply and demand to healthcare disparities.

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Global Health Economics: Concepts and Applications

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  1. Global Health Economics: Concepts and Applicationsor “Cool Things Justin Likes about Global Health Economics” Justin Berk TTUHSC SOM Global Health Elective 1/28/12

  2. What is economics?

  3. An example or

  4. My Kingdom for a Horse?

  5. Supply and Demand Activity Supplier: You just created a new medical invention: a talking stethoscope. You can set one price for it. Consumers: 5 of you would be interested in this invention. 1 is willing to spend $50 1 is willing to spend $40 1 is willing to spend $30 1 is willing to spend $20 1 is willing to spend $10 What price will the supplier set?

  6. Supply and Demand Law of Demand – the higher the price of the good, the less people demand the good Law of Supply – the higher the price of the good, the more items you want to sell.

  7. Red Shoes • http://vimeo.com/27046074

  8. Global Pharmaceutical R&D • 1 country is willing to spend $5B for chronic care lifestyle technologies • 50 countries are willing to spend $500M for chronic care lifestyle technologies • 100 countries are willing to spend $10M for life-saving medicines that cure disease. You’re the CEO of Pfizer. It costs over $1B to develop a drug.Where do you allocate your R&D funds?

  9. Why Health Care Economics is Different

  10. Moral Hazard People insulated from risk behave differently than people exposed to risk. • RAND Health Insurance Experiment • 4 fee-for service plans: • Free care • 25% co-pay • 50% co-pay • 95% co-pay

  11. Wealth is Health

  12. UK Whitehall Study

  13. Health and Wealth: A Bi-Directional Relationship Economics to Health Health to Economics

  14. Top 10 Causes of Death in Low-Income Countries • Lower respiratory infections • Diarrheal Disease • HIV/AIDS • Ischemic heart disease • Malaria • Stroke / Cerebrovascular disease • TB • Low birth weight / Prematurity • Birth asphyxia / trauma • Neonatal infections We have cures!

  15. Why are people still dying?

  16. Economic Development is Health

  17. Top 5 Public Health Jobs(that have nothing to do with public health) • Teachers • Education improves economy, decreases risky behavior • Most studies suggest more important than race and income • Engineers • Drill for water, build roads, develop energy infrastructure • Politicians (kinda) • Good governance serves enormous factor for health development • (It’s usually negative.) • City Planners • Create walking cities with access to healthy foods etc. • Journalists / Writers • Inspire world leaders, increase awareness, mobilize social groups • Martin Luther King, Thomas Paine, Nicholas Kristof, Oprah

  18. Discussion:Issues in Global Health Economics

  19. Structural Adjustment Plans Measures to promote market fundamentalism • Privatization of state-owned industry • Deregulation • Austerity (cutting expenditures)

  20. Tobacco Tobacco and smoking have a number of negative effects: • Tobacco smoking kills • Tobacco exacerbates poverty • Tobacco contributes to world hunger by diverting prime land away from food production • Tobacco production damages the environment • Tobacco reduces economic productivity Developing world has 80% of tobacco related deaths. How do you address this?

  21. Emergency Aid The village of Williamsville has been hit by a major typhoon. Farm land has been devastated. People are starving. There are two ways to get food to those in need: • A private farming company operates in the neighboring town of Simón. They know people are desperate and will pay huge amounts for food and water. They see this as a business opportunity and are willing to cross risky terrain to deliver the goods for high profit. • A coalition of NGOs and foreign aid can deliver food and water for free.

  22. Economic Development for Dummies

  23. Cool Global Health Business Solutions

  24. Charity:water • http://vimeo.com/22566556 • Marketing • Recruitinghuman capital • Financing

  25. Grameen Bank

  26. Riders for Health • http://vimeo.com/31962921 • Overcominginfrastructurechallenges • Avoidscoststhroughprevention • Improves supply chain logistics • Improves quality and speed of care

  27. CFWShops Approximately 20,000 children die each day because they lack access to essential drugs that often cost less than a cup of coffee. A short list of preventable and treatable diseasesaccounts for approximately 70% of childhood illness and death. • Entreprenuers provided blue-prints for a micro-franchise • like McDonald’s Three-Point Franchise Test • Standardization • Scalable • Economies of scale

  28. Advocate for Change

  29. How to Save the World • Make cool YouTube videos. • Small loans. • Ride motorcycles. • Copy McDonald’s. • Yell a lot.

  30. Cool Resources • EpiAnalysis blog • http://epianalysis.wordpress.com/ • Acumen Fund (non-profit venture capital) • http://www.acumenfund.org/ • Unite for Sight • http://www.uniteforsight.org/ • Partners in Health • http://www.pih.org/ • Global Issues Blog • http://www.globalissues.org/article/588/global-health-overview • Quora • http://www.quora.com/

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