What is Health Economics?

Health economics is a branch of economics concerned with issues related to efficiency, effectiveness, value and behaviour in the production and consumption of health and healthcare.

Economic evaluation, and in particular cost-effectiveness analysis, has become a fundamental part of technology appraisal processes for agencies in a number of countries. (Wikipedia, accessed on 30 January 2020)

In today's world, healthcare decision makers across the globe are often faced with the need to select therapeutic "interventions" from multiple treatment options, including biopharmaceuticals, medical devices, and healthcare services. However, the benefits and costs of these interventions can range dramatically, and the benefits can be economic, clinical, both, or may include hard to measure costs or benefits the patient experiences directly. Health economics and outcomes research (HEOR) can help healthcare decision makers—including clinicians, governments, payers, health ministries, patients, and more—to adequately compare and choose among the available options. (ISPOR.org, accessed on 30 January 2020)

Typical Health Economics/Market Access job titles

  • Health Economist

  • Senior Health Economist

  • Health Economics Consultant

  • Health Economics Associate

  • Market Access Manager

  • Senior Market Access Manager

  • Senior Market Access Director

  • Pricing & Access Manager

  • Pricing & Access Director

  • Pricing & Access Team Member

What are potential workplaces?

One of the biggest employers of health economists is the government. Health Economists are employed in industry, government, consultancies and academia and are involved with a wide range of products, including:

  • pharmaceuticals

  • medical devices

  • in vitro diagnostics

  • biologics and biotechnology

Which degrees lead into a career in Health Economics?

A bachelor or masters degree in economics with a specialisation in health economics.

How ARCS can help you

If you are thinking about a career in health economics and market access, ARCS is offering a range of workshops addressing essential requirements to set you up on your preferred career path.

Entry level/introductory

Related workshops

Health Economics for Non-Economists

Project Management Essentials

Making Sense of Statistics

Overview of Drug Development

 

Overview of the Medical Technology, Biotechnology and Pharmaceutical Sector

Where to go and who to contact for more information?

Monitor some of the job search portals and search for health economy and market access positions. This should give you a better idea of what roles are available and who is recruiting. ARCS membership provides information about vacant positions through the CEO, Jobs and News Bulletin.

Identify potential employers and approach them directly about entry level positions or graduate programs.
There are a range of specialised recruiters for careers in health economics and reimbursement.

Back