Health Economist Responsibilities

Health economics is the subject matter which deals with issues related to efficiency and effectiveness in the production and consumption of health and health care. Health economist responsibilities exhibit an array of duties to facilitate the running of medical facilities and programs effectively and economically. Heath economists are responsible for obtaining maximum value for the money that is being used in health and health care, and thus ensure maximum cost-effectiveness of the health care provision.

Health care industry is a complex field and contributes a lot to the success of an economy. Health economist is a person who has good sense and knowledge of economic aspects and helps in the decision making process of the business. Health economists have the expertise to study the functioning of health care industry and conduct economic evaluations of various programs accordingly. He/she helps in developing health program goals and objectives which involve the optimum utilization of resources, thereby keeping high profitability ratio.

Health economics is one of the most significant specialties of economics. This field has given rise to several job opportunities for individuals with a background in health economics and the related fields. To help you understand a health economist's job, some of the important aspects have been discussed in this article. This will certainly guide you to make your career choice.

Duties and Responsibilities of a Health Economist

• Develop program objectives, strategies and study methods on health care
• Design and execute research studies to guide effective use of information and resources
• Lead and direct plans to calculate various costs related to health care
• Utilize research programs on health economic topics
• Suggest new health outcomes for treatment and prevention of health issues
• Evaluate current and proposed strategies and interpret findings
• Pro-actively identify market access opportunities for the organization through effective planning and development of financially sound business proposals
• Effectively allocate and deploy resources including people, activities, projects and investment
• Contribute to strategic discussions/market access planning processes to enhance the effectiveness of implementation of corporate strategies
• Communicate economic assessment results to appropriate internal audiences
• Develop and execute health economic issues and methods to reduce cost
• Perform economic analysis and model plans for health-care programs
• Communicate and distribute academic literature, presentations and reports on research findings to update about new issues, solutions and other topics
• Ensure that medical care is provided to all patients in an efficient and effective way
• Provide lectures or educational sessions to educate about health economics
• Manage budget and cost estimates according to plans
• Manage business relationships with all customers including doctors, patients, economists, etc.

Skills/Qualifications Required

• Knowledge of the health-care industry and U. S health system
• Good understanding of the subject of economics and international relations
• Right balance of mathematical and analytical aptitude to comprehend the economic aspects thoroughly
• Excellent research skills and ability to analyze findings to make appropriate use
• Clear understanding of the country’s health economy
• Abreast with the national economic policies and its impact on the health-care sector
• Understand and apply mathematical concepts
• Fluent verbal and written communication skills
• Possess strong leadership and management skills
• Ability to work on multiple projects and meet deadlines
• Strong orientation to team work
• Experience in successful implementation of plans and achievement of objectives
• Ability to handle pressure, complex situations and problem solving capacity
• Ability to think analytically and strategically

Education and Experience

A health economist should possess minimum qualifications in order to qualify for such a position. He/she must hold a master's degree in health economics, health policy, or the related branch of study. A doctoral degree (PhD) in one of these subjects will prove to be extremely beneficial. Moreover, he/she should come with over two years of work experience to become a health economist.

Salary Details

A health economist's average salary is $83,697 and the median salary is $83,200. Thus, the salary ranges from $46,999 to $140,809. As a common practice, it has been witnessed that an individual who works on project contracts, receives much higher pay than those who are salaried employee in government organizations, trusts or NGOs.

Work Conditions

Health economists work either in an office set-up or personal work place and fix their work time accordingly. Their work demands a lot of travel to conduct interviews, attend conferences and research field-work.

It is estimated that the demand for economists will grow up to 6 percent by 2018. To perform the critical health economist responsibilities, one must have relevant education, training and experience.