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This video tutorial on health economic evaluation outlines its importance and the four main types of evaluations. Health economic evaluations are necessary to inform decisions on allocating limited resources among various health programs, as opportunity costs arise when funds are spent on one intervention over another. These evaluations facilitate comparisons between different health interventions based on their costs and outcomes. The four primary types of economic evaluations introduced are cost minimization and cost-effectiveness analysis, which help determine the most beneficial allocation of resources to improve population health.