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This video tutorial on health economic evaluation discusses its necessity and introduces the four main types of evaluations. It highlights that despite the existence of many effective health interventions, budget constraints limit the ability to fund all beneficial programs, leading to opportunity costs. Health economic evaluations aid in making informed decisions by comparing the costs and outcomes of multiple health interventions. The four primary types of economic evaluations mentioned include cost minimization and cost-effectiveness analysis. These evaluations are essential for ensuring that limited health resources are allocated in a way that maximizes overall benefit to the population.