This article surveys the successes and lacunae of the health economics research endeavor. It points to the key role that funding agencies have in directing research attention towards particular domains, but argues that the discipline has in recent years become more balanced in seeking to offer policy advice on most of the important elements of the health system. Health economics has some notable successes in influencing public policy for the good, for example in the design of payment mechanisms, the measurement of performance, and the assessment of health technology. The article mentions the importance of proselytizing to ensure continued research funding and continued improvements in the efficient delivery of population health care. This overview highlights a number of success stories from health economics, but also areas where there is a need to continue to develop and improve the evidence base. The trademarks of economics and measurement will continue to facilitate improved efficiency, equity, and macroeconomic expenditure control in future.