CHOICE Institute Assistant Professor, Dr. Noémi Kreif was invited to deliver a keynote lecture in December 2025 at Corvinus University of Budapest – her alma mater – at a conference marking the 30th anniversary of the prestigious John von Neumann Award in economics. Funded by the Rajk College for Advanced Studies, a student organization of which Noémi was also a member, the prize celebrates outstanding contributions to economic thought. Drawing on the work of past awardees including Kenneth Arrow and John Harsanyi, her talk introduced an economics and business audience to health economics and highlighted how it can inform the design of more efficient and equitable health care systems.
What Modern Health Economics Brings to Public Health
Kreif introduced the audience to health economics as a practical decision science, not an abstract field. She highlighted the realities that make healthcare uniquely challenging: outcomes are uncertain, patients and providers have very different information, and society demands much higher ethical standards in healthcare than in typical markets. These conditions mean that health systems must rely on carefully designed public policies—not just market forces—to deliver fair and effective care.
Importantly, Kreif emphasized that health economics provides tools to answer real‑world questions, such as which treatments to fund, how to measure their impact, and how to ensure that the benefits reach those most in need.
Four Evidence‑Based Principles for Better Health Policy
1. Measure what actually matters for people’s lives.
Good policy requires accounting for both survival and quality of life, especially when evaluating expensive treatments like new cancer therapies. Without measuring wellbeing alongside longevity, health systems risk paying a lot for small gains.
2. Look beyond averages—equity depends on it.
The same intervention can have very different effects across communities. Life expectancy gaps of 15 years in the U.S. and 12 years within Hungary demonstrate that average results hide urgent needs. Policies must be assessed for who benefits and who is left out.
3. Remove small barriers that have big consequences.
Seemingly minor obstacles—like travel time, bus fare, or a small co‑pay—can prevent people from getting preventive care or vaccinations. Evidence from India shows that even simple in‑kind incentives can dramatically increase participation, while minimal fees reduce it. These findings underscore that access is shaped by friction, not just availability.
4. Use analytics to target what works, for whom.
Machine learning and modern causal methods can help identify which policies are most effective for which groups, enabling smarter resource allocation. Instead of “one‑size‑fits‑all,” health systems can tailor policies to maximize impact and close gaps.
Why This Matters Now
Corvinus University’s conference summary highlighted a key theme: the growing need for truly data‑driven decisions in public policy, especially as health systems confront rising costs, demographic shifts, and inequities. Kreif’s work provides a roadmap for how to do this responsibly and effectively.
Her message is that evidence is only powerful if we design systems that act on it. And acting on it means:
- analyzing who benefits, not just the average effect;
- investing in low‑friction access for those with the most to gain;
- and using modern analytical tools to guide decisions under tight budgets.
A Call to Action for the Field
For policymakers:
- Build equity and opportunity‑cost analysis into every major health decision.
- Remove small, everyday barriers that disproportionately hold back the most vulnerable.
- Invest in data systems and evaluation methods that measure who benefits—not just what works on average.
For researchers:
- Continue producing evidence that identifies causal impact, not just correlations.
- Study real‑world constraints like time, cost, and transportation alongside medical outcomes.
- Translate findings into clear, actionable guidance that health systems can implement.
The Bottom Line
Design health policy around evidence, equity, and low‑friction access, and population health improves—measurably and quickly. The result is more people living longer, healthier lives; fewer communities left behind; and public budgets that deliver the greatest health gains where they are needed most. Kreif’s keynote made one message unmistakable: It’s not enough to know what works. We must implement what works.
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