Time Cost


Health Economics

  • Reflects the idea that people's time has alternative uses that are valuable and are, hence, opportunity costs. Not all time costs in health care are, however, costs in this sense. For example, although waiting in a doctor's waiting room may involve some sacrifice of time (whose value will depend on the alternative use to which it would have been put) waiting for admission as a hospital in-patient normally does not and one's time is available for other uses (though it may have other disadvantages and the other uses may be limited by the state of health).