The most industrialized countries in the world have of late been facing challenges in financial medical services caused by demographic and technical inventions changes. Budgets allocated to finance health care costs that are unlimited and sensitivity of the infectious diseases. Through economic evaluation, effective decision making pertaining proper allocation of medical resources is influenced. Accordingly, the paper discusses the different forms of economic evaluation of infectious diseases.
Economic evaluation of infectious diseases is highly enacted so as to minimize possible risks of their spread. Implementation of prevention programs have been placed to reduce the massive cost of treatment to be attained in a long period of time, therefore, preclusion objectives are affected by discount rates used during the analysis. Cost- effectiveness is one of the crucial analyses used in assessing the effects caused by infectious diseases linked to the economic trends. Bennett, Dolin, & Blaser (2014) affirm that cost evaluation analysis assess the effectiveness of any technology used in the health care unit. Moreover, they depict the performance and effect the drugs have in human body thus preventing the infections (Joumard, André, & Nicq, 2010).
Usage of technical efficiency highly minimizes the cost of operation in provision of Medicare services. This is done through evaluation of incremental cost-effective ratio (ICER) and effective utilization of technology to maximize healthcare provision (Gray et al., 2010). Consequently, technology will enable the ratio to give an insight a level efficiency as it is inclusive of medical equipment, drugs and design of intrusion plans. The ratio further measures the cost and savings differences to calculate the unit of life in a year.
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The overall diseases effectiveness comprises of both direct and indirect efficacy so as to safeguard the immunized individuals and reducing the dangers imposed to the non- vaccinated. The use of mathematical model to integrate the prospective data analysis has intervened prevalent diseases before and after plan application (Kendal, & MacDonald 2010). Prospective simulation aided by mathematical models involves introduction and implementation of different prevention policies that are effective. The analyzed data validate the model by reducing the risks of infection among the individuals thus becoming beneficial to others by saving on the cost of medication.
Human capital approach is one of the approximate optimum probable losses in production due to infectious diseases. Through the friction cost method, the findings assume that the majority workforce paid in the previous year is unemployed during the intervention assessment (Quach et al., 2012). With the use of technology in the health centers has greatly impacted the minimization of the net costs associated with production thus evaluating to find the best alternatives (Bennett, Dolin, & Blaser, 2014). Consiquently, technology advance prevent intervention of treatment and diagnosis that shoews consistence during assessment period.
In conclusion, the essays depicts that cost-effectiveness analysis is the major economic assessment method of infectious diseases. Through economic evaluation, preventive measures are developed so as to reduce the transmission rates of such diseases thus better policies are implemented for treatment purposes. Different models have been used to terminate the transmission pathogens and accurately formulating the general efficacy in healthcare provision which are vital in health economics.
