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This video tutorial on health economic evaluation provides an overview of its significance and the four main types involved. It explains the necessity of these evaluations in making informed decisions regarding healthcare spending, given the limited financial resources available for effective health interventions. The concept of opportunity cost is introduced, highlighting the trade-offs required when prioritizing certain health programs over others. Health economic evaluation serves as a tool to compare multiple health interventions based on their costs and outcomes, guiding the allocation of funds to achieve the greatest overall benefit. The four main types of economic evaluations mentioned are cost minimization and cost effectiveness, among others.