What is Health Economics?

by Joe Aherne

Home » Resources » Blog » What is Health Economics?

What is Health Economics?

“In a system with limited resources, health professionals have a duty to establish not only that they are doing good, but that they are doing more good than anything else that could be done with the same resources.” – Alan Williams (Professor of Health Economics, University of York)

Health Economics is a subfield of economics that is concerned with an efficient and fair allocation of health care resources in an environment of uncertainty. It provides an objective framework for health professionals to make informed decisions by balancing costs and benefits. Health workers form the final links between health provision and the consumer, and the use of cost-effective but efficient treatment methods, sound diagnostic abilities, and the generation of health data and its analysis are all dependent upon the health provider.


Fuchs (2000) suggested health economics has a “two-hat” nature – it can be described both as a behavioral science and as an input into healthcare practice and policy. There are many in the healthcare industry who can make use of health economics including Health Providers, Policy Makers, Healthcare Funders, and Health Manufacturers with each discipline using the science in a unique way to suit their needs.

If you want to learn more about how Health Economics can aid your business, please contact us today or read about our online Health Economics Course.



Joe Aherne Photo
Joe Aherne

CEO of Leading Edge Group

Joe qualified as a Certified Public Accountant in 1982. It was a decision that reaped great benefits for Joe, providing him with an international recognized qualification which allowed him to follow in his father and grandfathers’ footsteps who had both worked and lived abroad. Having qualified as a CPA, Joe took up financial positions in the Middle East and UK.

Related posts

What is Lean Transformation Achieving Operational Excellence
What is Lean Transformation: Achieving Operational Excellence

In today's fast-paced business environment, organizations constantly seek ways to improve their operations, eliminate waste…

March Special – Put a Spring in Your Step with our 15% Discount

Want to put a spring in your step this March? Save 15% on our online…

December Special: 10% Off Your Online Lean Healthcare Belt Programs

If you are thinking about undertaking online Lean Healthcare Belt training, you may be interested…

Contact Us

Please call or email us with any queries regarding our Lean Belt training programs.

Europe - Ireland

Co. Cork,
P24 AD90

Tel: +353 (21) 4855863


North America - Canada

60 St. Clair Avenue East Suite 805,
Toronto, ON,
M4T 1N5,

Tel: +1 (416) 637 5074


Oceania - Australia

LEI Group Australia
1/76 Heller St
VIC 3055

Tel: + 61 (03) 9854 6136