Tag: cost

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Pet effects

Pets have effects, some might cancel out each other. In psychology there is a long debate about the pet effect, which claims that pets have overall a positive effect on a person’s well being. This claim has recently been debunked. Many persons have taken over the care of an animal for their own comfort and regular daily routines. The Covid crisis had spurred such behavior in many people, but the scientific evidence taking into account the responsibilities that come with ownership of a pet, can outweigh the benefits of having company. The choice of a pet should certainly not be an easy or haphazard one. There is a need to consider the full range of pleasure and responsibilities. Traveling with pets and vacation times pose additional challenges that can cause stress to owners as well. Dog sitting or pet sitting platforms have been thriving since the Covid pandemic and this is to the benefit of everyone involved.

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Health Systems

Comparing health systems across the EU can be complex at times. However, there seems to be a consensus that the Irish health system is an oddity within the European health systems. On the one hand Ireland is a rather wealthy country in terms of GDP, but the primary care system excludes a high percentage of people from access to it. The scientific journal “The Lancet Regional Health” published a paper and comment on this rather unique exception to the rule to offer a universal health care system to its citizens. The controversy is about the coverage of costs of a visit to a general practitioner. More and probably earlier visits to a GP reduce the (over)burdening of
hospitals later during the life course. Prevention helps a great deal to lower overall costs of a health system.
The roots of the Irish health system have been built upon “subsidiarity”, which means that the public support system should only step in, if the individuals or families are unable to cover costs by themselves. Poor households had to apply for a card giving them access to medical care free of charge. Building hospitals was the next challenge and local communities managed to raise funds in support of such additional structures. In 2025 it can be very costly to enlarge the coverage to a universal access to primary care and the challenge to attract sufficient numbers of general practitioners is a very European one. In this respect Ireland is just like any other European country again.
The question of how to best achieve a universal health care system remains an important one. Apparently, you can be rather “health poor” in an otherwise “economically rich” country.

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Sun power

Statistics of hours of sunshine in Germany and many European countries show an extraordinary amount of sunny days in March 2025 compared to previous years. This opens up a window of opportunity to produce electricity already in a month previously less likely to yield a lot of energy. With more likely 8 months of decent electricity production the efficiency of investments in solar energy reach break even points earlier. Time to think of expanding the share of renewable energy even further. The cost effectiveness is improving in rather unpredictable ways. Economists, of course, consider opportunity costs in this case the alternative to use oil or gas despite the higher levels of CO2 emissions. As the prices are currently lower as well, without an easily predictable trend, solar alternatives are a valid option.

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Investment Disinvestment

Asume we live in a world of fixed amounts of investments. The option to invest in a new project or product will automatically reduce the amount of investment in another product. The investment decision, therefore, is subject to opportunity costs. A recent study by Naci et al. (2025) applies this rationale to the investment in new drugs compared to financing other traditional treatments. The results for the U.K between 2000 and 2020 revealed that the „quality-adjusted life-years (QALYs)“ is not in favor of the investment in new drugs. The relatively small numbers of beneficiaries of the new drugs is compared to the many other persons who could have benefited from the less costly previous treatment. Investment in one new drug causes disinvestment in other ones. The overall balance for the UK turned out to be negative. Particularly the disinvestment in prevention of diseases appears to have very detrimental effects in view of the results based on this study. Preventative measures are relatively cheap compared to the estimated 20.000 pounds for one additional quality adjusted year of life for a new drug. The message is: choose your health investments wisely to avoid ever rising health costs and health insurance. (Image: rest room Belgium)

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Patient Empowerment

The empowerment of patients is a well-established practice in the treatment of diabetes. Measuring your own blood sugar and adjusting your medication to the self-monitored data is common practice. For patients with high blood pressure this patient empowerment is less prevalent. A medical study carried out in Valencia (Spain) by Martínez-Ibáñez et al. (2024) has tested the effects of such a self-monitoring and self-medication experiment.
The results publishes in (JAMA) gave rise to considerable attention in the profession as the empowerment of patients is one way out of the likely increasing shortage of medical professionals in aging societies. Whereas other studies found that total costs to the medical system might increase, the study in Spain provides evidence of the cost-reduction effect of such an empowerment. 24 months after the beginning of the trial. After the establishment of a “medication based on an individualized prearranged plan used in primary care” the self-administering participants achieved a significant decrease in their blood pressure that lasted until the end of the study after 2 years. The drop-outs of the study seem to follow a random pattern.
The conclusion gives support to the potential of patient empowerment in the widespread treatment of higher blood pressure beyond the regular visits of medical doctors. The monitoring of changes in lifestyle add to this to keep the costs of health care under control in aging societies.