Our new paper, Allocating public spending efficiently: is there a need for a better mechanism to inform decisions in the UK and elsewhere? explores the evidence currently being used to allocate budgets between public sector activities in the UK and its limitations. We argue that there is much that can – and should – be done to improve the evidence base to inform the allocation of public sector budgets across portfolios. We propose a pragmatic approach to measure and value disparate public sector outputs in a commensurate manner.
One of the remarkable achievements of health economics as a sub-discipline of economics has been the widespread international use of evidence on the cost effectiveness of new technologies in the health care sector, via Health Technology Appraisal. The considerable efforts made to ensure that new technologies are effective and good value for money – explicitly recognising the opportunity cost of these decisions – helps to ensure health care budgets are used in ways that maximise benefits to patients and society from the health service budget.
MÁS INFORMACIÓN: https://www.ohe.org/news/allocating-public-spending-efficiently-there-need-better-mechanism-inform-decisions-uk-and
