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This video on health economic evaluation provides an overview of its significance and the four main types of evaluations. It explains that while there are many effective health programs available, funding is often limited. Consequently, decisions must be made regarding expenditure to maximize health benefits, referred to as opportunity cost. Health economic evaluation serves as a tool to aid these decisions by comparing multiple health interventions based on their costs and outcomes. The four primary types of economic evaluations highlighted are cost minimization and cost-effectiveness, among others. The goal is to ensure optimal allocation of resources for the greatest impact on population health.