The economics of healthcare funding decisions

Decisions to fund new treatments in public health insurance systems are complex. Budgets are finite and governments cannot fund every new treatment for every patient. Decision makers must prioritise spending that delivers the best value when deciding what treatments to fund, for whom and under what circumstances. Making the ‘right’ decision is difficult because decision makers often have incomplete and uncertain evidence on costs and benefits of treatments. The consequences of making the ‘wrong’ decision include wasting scarce resources or delaying access to treatment. This thesis investigates the economics of these decisions and considers policies to improve health outcomes.