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dc.titleMacroeconomic and Fiscal Effects of Increased Efficiency in Medicine Procurement: A General Equilibrium Analysis of the Colombian Health System
dc.contributor.authorÁvila-Montealegre, Oscar
dc.contributor.authorBauhoff, Sebastian
dc.contributor.authorBotero García, Jesús
dc.contributor.authorGiles Álvarez, Laura
dc.contributor.authorLeón-Moncada, Santiago
dc.contributor.authorLarrahondo, Cristhian
dc.contributor.authorLozano Espitia, Luis
dc.contributor.authorMelo-Becerra, Ligia
dc.contributor.authorOrtiz Hoyos, José Luis
dc.contributor.authorRodríguez-Ávila, Jesús
dc.contributor.orgunitCountry Department Andean Group
dc.coverageColombia
dc.coverageColombia
dc.date.available2024-12-11T00:12:00
dc.date.issue2024-12-11T00:12:00
dc.description.abstractThis study analyzes the macroeconomic and fiscal effects of greater efficiency in medicines procurement in Colombia, using both static (computable) and dynamic general equilibrium models. The findings indicate that implementing an efficient drug procurement policy could reduce the total health system spending, with potential savings of up to 8.4% in the short term and up to 10.8% in the long term. These savings could be reinvested within the health system, allocated to other sectors, or used to reduce tax burden on capital, consumption, or social contributions. The latter option would increase production by up to 1.1%, investment by 1.7% and consumption by 0.8%. Potential measures to achieve such efficiency gains include promoting and purchasing generic drugs, conducting joint procurement, and implementing price regulation.
dc.format.extent32
dc.identifier.doihttp://dx.doi.org/10.18235/0013308
dc.identifier.urlhttps://publications.iadb.org/publications/english/document/Macroeconomic-and-Fiscal-Effects-of-Increased-Efficiency-in-Medicine-Procurement-A-General-Equilibrium-Analysis-of-the-Colombian-Health-System.pdf
dc.identifier.urlhttps://publications.iadb.org/publications/spanish/document/Efectos-macroeconomicos-y-fiscales-de-una-mayor-eficiencia-en-la-compra-de-medicamentos.pdf
dc.language.isoen
dc.publisherInter-American Development Bank
dc.subjectDelivery of Health Care
dc.subjectMedicines Pricing
dc.subjectHealth
dc.subjectProcurement
dc.subjectSaving
dc.subjectHealth Expenditure
dc.subjectTaxation
dc.subjectMacroeconomy
dc.subjectFiscal Policy
dc.subjectRegulation
dc.subjectTax System
dc.subjectHealth Services
dc.subjectGross Domestic Product
dc.subjectPharmaceutical Policy
dc.subject.jelcodeC68 - Computable General Equilibrium Models
dc.subject.jelcodeD58 - Computable and Other Applied General Equilibrium Models
dc.subject.jelcodeE62 - Fiscal Policy
dc.subject.jelcodeH21 - Efficiency • Optimal Taxation
dc.subject.jelcodeH51 - Government Expenditures and Health
dc.subject.jelcodeI11 - Analysis of Health Care Markets
dc.subject.jelcodeI18 - Government Policy • Regulation • Public Health
dc.subject.keywordsMedications;health expenditure;Health system;Colombia;taxes;general equilibrium models;pharmaceutical policy
dc.typeMonographs
idb.identifier.pubnumberIDB-MG-01250
idb.operationRG-P1844
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