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Health Economics and Financing, 5th Edition

Health Economics and Financing, 5th Edition

Thomas E. Getzen

ISBN: 978-1-118-54534-8

Nov 2012

496 pages



Health Economics and Financing serves as the perfect primer for the economic analysis of medical markets. It prepares students of medicine, public health, policy and administration who wish to engage the central economic issues of their field—without extensive mathematics or highly technical analytical techniques. 

Getzen’s text includes effective explanations of how and why health and medicine are both like and unlike other economic goods, as well as knowledge about institutional features, for students who intend to go into this unique and rewarding line of work.

Health Economics and Financing serves as an excellent primer for introducing students to the principles and core concepts of health economics rather than its literature, equations, or research methods.


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Preface xxiii

Acknowledgments xxv

About the Author xxvi

Foreword xxvii

1 Choices: Money, Medicine, and Health 1

2 Demand and Supply 23

3 Cost–Benefit and Cost-Effectiveness Analysis 44

4 Health Insurance: Financing Medical Care 69

5 Insurance Contracts and Managed Care 96

6 Physicians 124

7 Medical Education, Organization, and Business Practices 146

8 Hospitals 172

9 Management and Regulation of Hospital Costs 191

10 Long-Term Care 212

11 Pharmaceuticals 236

12 Financing and Ownership of Health Care Providers 259

13 Macroeconomics of Medical Care 292

14 The Role of Government and Public Goods 319

15 History, Demography, and the Growth of Modern Medicine 347

16 International Comparisons of Health and Health Expenditures 372

17 Economic Evaluation of Health Policy: The Patient Protection and Affordable Care Act of 2010 408

18 Value for Money in the Future of Health Care 427

Glossary 443

Index 453

  • Chapters focused on what is happening in US healthcare, and the consequences it will have on healthcare professionals, in relation to economics.
  • Emphasizes basic economic principles, instead of focusing equal attention on healthcare and economics.
  • Introduction to behavioral economics, how it effects the healthcare industry.


  • Builds Foundations: Basic principles and concepts are treated as tools for economic analysis (Chapters 1 and 2).
  • Uniquely traces the flow of funds through the system to illustrate ownership and incentives.
  • Provides a strong analysis of capital financing, ownership, and social insurance.
  • Contains extensive quantitative and qualitative problem sets (200+) an Instructor’s Manual, and PowerPoint Presentations.