Discuss cost effectiveness analysis

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Reference no: EM132934025 , Length: 5 page

Healthcare resources are scarce, and policy makers and health planners make choices between alternative uses of resources. Economic evaluation is important when allocating scarce resources. Cost-benefit analysis, cost effectiveness analysis, and cost utility analysis are decision-making tools that help policy makers and planners examine healthcare costs and the consequences of alternative health programs, services, and interventions.

Prepare at least a 5-page overview of cost effectiveness analysis and cost-benefit analysis as decision making tools in the allocation of health resources. Address the following:

Define economic evaluation, and explain why it is important in healthcare.

Discuss cost effectiveness analysis.

Discuss cost-benefit analysis.

Share your views on the application of the two approaches in resource allocation.

Reference no: EM132934025

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