Health Economics and outcome Research (HEOR) refers to a given methodology used to identify and measure the links between the interventions and treatments delivered in the healthcare sector and their actual outcomes to the local healthcare payers. This discipline is more of a complement of the traditional development information whereby healthcare decision-makers used three critical rules (efficacy, safety, and quality) in determining the accessibility of individual patients to specific drugs and services. In the current generation, healthcare officers are often faced with selecting the best therapeutic intervention choice from the numerous available treatment options such as medical devices, healthcare services, and above all, biopharmaceuticals. However, it’s often crucial to note that those interventions’ benefits and costs may cost a fortune. Thus, the Health Economics and outcome research’s applicability plays a more significant role in helping those healthcare officers make the best-informed decisions the most affordable costs.
The functions of the Health Economics and outcome Research field has spontaneously advanced over the years in terms of methodology and quantity. Global healthcare is increasingly becoming under high pressure of delivering increased patient outcomes with a high budget constraint. Thus, they make the governments across the globe continuously grapple with diverse methods of providing their citizens the best but affordable healthcare services. It has forced them to invest millions of funds and rigors proven scientific methodologies in covering this field, which is geared towards promoting the best and informed healthcare decisions.
But it’s critical to note that despite the numerous funds pumped towards finding the best applicable Health Economics and outcome, the HEOR application in the healthcare sector currently remains unknown. The state of and efficiency of those researches are still unknown. Still, their accessibility and applications in the future are likely to increase due to the increased access and reimbursement of the HEOR decisions. This is because there is an increase in access and utilization of healthcare resources globally, rapidly reducing those resources’ availability. Hence with the increased demand for those resources and reduced access, the world is soon facing a healthcare crisis, keeping in mind that rationing is not an option since healthcare prioritization is highly unavoidable. The best example of this scenario has been witnessed with the outbreak of the current COVID 19 pandemics. Whereby even the most equipped healthcare systems in the world are almost on the edge of collapse as they struggle to deal with the influx of numerous patients at the same time, thus depriving their resources.
It’s vital to note that the complexity of the day-to-day activities in the health care sector will continue to intensify, thus increasing the drive to acquire cost-effective, innovative treatments. To avoid the possibility of reeling the best healthcare systems towards the edge, we should consider including the diverse perspectives and new affordable approaches by the HEOR into the healthcare sector. Those new ideas will significantly help provide rigorous transparency in the decisions made, thus providing people with the best cost-effective services.