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Economic evaluation is an integral aspect of healthcare decision-making, playing a pivotal role in determining the most effective and efficient use of resources. In the realm of healthcare, where resources are often limited, it's imperative to evaluate various interventions and strategies not just in terms of their medical effectiveness but also from an economic perspective. These evaluations involve a comprehensive assessment of both the costs incurred and the outcomes achieved by different healthcare approaches.
By methodically comparing these aspects, economic evaluations guide policy makers, healthcare providers, and other stakeholders in making informed decisions that strive to maximize patient benefits and societal welfare within the constraints of available resources. Below is a table summarizing the basic methods of economic evaluation in healthcare:
| Method | Purpose | Analysis | Outcome Measure | Limitation |
|---|---|---|---|---|
| Cost-Minimization Analysis (CMA) | Used when interventions have equivalent outcomes. | Compares the costs of interventions. | Costs only (outcomes are equivalent). | Limited to situations with demonstrably equal outcomes. |
| Cost-Effectiveness Analysis (CEA) | Assesses costs and health outcomes of interventions. | Compares cost per unit of health outcome. | Natural units (e.g., life-years gained). | Only compares interventions with the same health outcome. |
| Cost-Utility Analysis (CUA) | Evaluates cost in relation to quality of life. | Assesses cost per utility unit (QALYs/DALYs).... |
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