An estimate of the marginal productivity of public expenditure on health and social care is important for a wide range of resource allocation decisions. It reflects the additional beneficial outcome that could be gained with additional resource. It also reflects the benefit foregone if resources are committed to a specific type of expenditure and removed from the overall discretionary budget, so reflects the opportunity costs of investing in specific projects.
The overall aim of the project is to use the firm foundation provided by existing work on the marginal productivity of NHS expenditure to strengthen these estimates and extend the analysis to include other categories of public expenditure. As well as developing and updating estimates of the effects of NHS expenditure, we will estimate the effects of public health and social care expenditure on health and other relevant outcomes.
Karl Claxton, James Lomas, Steve Martin, Francesco Longo, Marta Soares, Mark Sculpher
Karl Claxton. Click here to email Karl