Macro-level efficiency of health expenditure: Estimates for 15 major economies

17344 11 95222 2 293472 document 95222 1-s2.0-S027795362100602X-main.pdf application/pdf ee73a4ebbcc145d0ac3d38a0cad4f4f0 MD5 846057 2021-09-13 11:31:05 https://pure.iiasa.ac.at/id/eprint/17344/7/1-s2.0-S027795362100602X-main.pdf 17344 7 7 application/pdf text en public cc_by_4

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published 95223 2 293476 document 95223 lightbox.jpg image/png c0c4a4faaa0927c4f59c9c717d4bb3d7 MD5 55058 2021-09-13 11:32:00 https://pure.iiasa.ac.at/id/eprint/17344/8/lightbox.jpg 17344 8 8 image/png other Thumbnails conversion from text to thumbnail_lightbox en public

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http://eprints.org/relation/isVersionOf https://pure.iiasa.ac.at/id/document/95222 http://eprints.org/relation/isVolatileVersionOf https://pure.iiasa.ac.at/id/document/95222 http://eprints.org/relation/isIndexCodesVersionOf https://pure.iiasa.ac.at/id/document/95222 archive 353 disk0/00/01/73/44 2021-07-26 08:00:15 2022-01-17 11:03:24 2021-07-26 08:00:15 article show Chen S. Kuhn M. 2235 Prettner K. Bloom D.E. Wang C. Macro-level efficiency of health expenditure: Estimates for 15 major economies pub EF Health expenditure; Efficiency; Value of statistical life; Welfare; Macroeconomics; Health care systems; Macro-efficiency test The coronavirus disease 2019 (COVID-19) pandemic highlights the importance of strong and resilient health systems. Yet how much a society should spend on healthcare is difficult to determine because additional health expenditures imply lower expenditures on other types of consumption. Furthermore, the welfare-maximizing (“efficient”) aggregate amount and composition of health expenditures depend on efficiency concepts at three levels that often get blurred in the debate. While the understanding of efficiency is good at the micro- and meso-levels—that is, relating to minimal spending for a given bundle of treatments and to the optimal mix of different treatments, respectively—this understanding rarely links to the efficiency of aggregate health expenditure at the macroeconomic level. While micro- and meso-efficiency are necessary for macro-efficiency, they are not sufficient. We propose a novel framework of a macro-efficiency score to assess welfare-maximizing aggregate health expenditure. This allows us to assess the extent to which selected major economies underspend or overspend on health relative to their gross domestic products per capita. We find that all economies under consideration underspend on healthcare with the exception of the United States. Underspending is particularly severe in China, India, and the Russian Federation. Our study emphasizes that the major and urgent issue in many countries is underspending on health at the macroeconomic level, rather than containing costs at the microeconomic level. 2021-10 published Elsevier 10.1016/j.socscimed.2021.114270 3124 public Social Science and Medicine 287 e114270 TRUE 0277-9536 Economics of Equal Life Chances (EELC) FALSE no info:eu-repo/semantics/article