Health Economic Principles for Tackling Financial Crisis

The financial crisis that hits developed countries from time to time might lead to a budget cuts in state provided services such as healthcare, education, transport and in other sectors. This involves responses to the challenges associated with funds being cut over the financial crisis. Optimal approaches to redistributing scarce and diminishing resources can differ from one department to another; different strategies may be required to overcome the tensions arising in certain settings. Even under conditions of dwindling resources, it is mandatory that patients continue to receive the most efficient, effective and equitable services available. In this paper,the focus is on presenting the appropriate health economic principles for tackling such challenges. Understanding these principles might help in minimising the costs and maximising the benefits.