Economics in Healthcare
6 Credits (ECTS)
Economics in Healthcare
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€543 refund on this module
Module Description
Throughout this module, participants will delve into essential economic concepts such as micro and macroeconomics, applied economics, and healthcare policy-making.
By studying these concepts, participants will gain a profound understanding of the intricate relationship between economics and society, particularly within the healthcare context.
Equipped with this knowledge, students will be prepared to actively engage in decision-making processes at both macro and microeconomic levels, offering innovative solutions to contemporary challenges faced by healthcare systems.
This module empowers students to navigate complex economic landscapes and contribute meaningfully to shaping the future of healthcare delivery and policy.
Entry Requirements
Candidates who apply for this course must possess one of the following:
- a Level 6 degree in a related field;
OR
- a Level 5 diploma or higher diploma and 5 years’ work experience in a supervisory or managerial role.
Preference is given to applicants having a Level 6 degree in a discipline related to the healthcare industry and a minimum of 3 years’ work experience in management within the sector.
Target Audience
The programme is mainly targeted at:
- Nurses and Midwives;
- Nursing Managers;
- Ward Managers;
- Clinic /Department Managers;
- Physiotherapists;
- Social Workers;
- Doctors;
- Professionals allied to medicine, such as paramedics;
- Staff within the pharmaceutical and medical devices industries;
- General Managers without clinical qualifications.
Career Paths
The programme aims to prepare you for senior posts such as
- Chief Executive Officer
- Managing Director
- Head of Department of any healthcare entity such as a hospital, clinic or ward, amongst others.
How you’ll be assessed
The course comprises:
- Evening classes for part-time courses.
- Classes held throughout the day for full-time courses.
- Guided learning, presentations, comprising synchronous online discussions, tutorials and/or videos.
- Self-study hours comprising research, reading and assignment work.
Assessment
Assessment is carried out via two mandatory components:
- Modular Assessment
- Dissertation Assessment
The programme includes different forms of assessment which allow for and promote students’ critical engagement. The formative and summative assessment tasks may include an in-class assignment and/or a home-based written assignment using diverse assessment tools which may take the form of online and in-class discussions, examinations, case studies, reports, proposals, essays, and presentations, etc., as applicable to the diverse modules.
Learning Outcomes
Competences:
At the end of the module/unit the learner will have acquired the responsibility and autonomy to:
- Analyse the economic activity among other private and public Healthcare organisations locally and in the international marketplace.
- Carry out qualitative and quantitative research when conducting business analysis to determine Economic viability of own Healthcare organisation.
- Use data and information gathered to review own Healthcare s strategy viability and sustainability.
- Develop an sustainable Economic strategy for own Healthcare organisation.
- Use market place information to develop new business and income-generating activity within own Healthcare organisation.
- Determine how own Healthcare organisation can benefit from economies of scale and pricing strategies.
Knowledge:
At the end of the module/unit the learner will have been exposed to the following:
- Critically analyse Applied Economics for Healthcare Managers.
- Critically analyse theories of Consumption and Investment and Game theory in relation to healthcare systems.
- Evaluate the concepts of Market Performance and Market Efficiency.
- Critically analyse the differences between Macro and Micro Economics.
- Relate market-place information and intelligence to own Healthcare organisation’s economic position and current operations.
- Analyse the impact of Supply and Demand in Healthcare.
- Identify Pricing and Costing strategies for Healthcare organisations.
- State the impact of economics of scale and pricing strategies for Healthcare organisations.
- Outline the link between Social Responsibility and Healthcare providers.
Skills:
At the end of the module/unit the learner will have acquired the following skills:
- Apply cost benefits analysis to determine resources allocation in own Healthcare organisation.
- Use the theories of Consumption and Investment in own business-related discussions.
- Employ economic analysis to predict future market behavior in response to events, trends, and cycles in healthcare systems.
- Identify key Policy Issues which are relevant to Healthcare organisations and providers.
- Determine the Pricing and Costing strategies which are relevant to own Healthcare organisation.
- Distinguish between Health Economics of private vs. public Healthcare organisations and/or providers.
- Identify the economic forces forming the external environment of own organisation>
Judgment Skills and Critical Abilities:
The learner will be able to:
- Choose a suitable method to set and measure own pricing in the relevant Healthcare markets.
- Assess whether current strategy complements the Economic health of own Healthcare organisation.
- Determine the effect taxes have on own Healthcare organisation.
- Evaluate current policy issues with regards to the economic environment.
- Assess which pricing strategy would be most suited to own Healthcare organisation.
- Evaluate the performance of own Healthcare organisation economically to other similar business models (private/public/local/international)
Module-Specific Communication Skills:
The learner will be able to:
- Communicate feedback to key stakeholders during different stages of change implementation.
Module-Specific Learner Skills:
The learner will be able to:
- Research how other similar Healthcare organisations (local/international/public /private) use Health Economics to develop strategy and manage operations.
- Research local Healthcare Policy, Budget Allocation and Additional Funding/Grant opportunities which could be of benefit to own Healthcare organisation.
Module-Specific Digital Skills and Competences:
The learner will be able to:
- Navigate through the online learning platform to find assignments, discussion boards, literature, tutorials etc.