ECO440H5 Chapter Notes -Economic Evaluation, Mastectomy, Sensitivity Analysis
Document Summary
Cost-benefit analysis: an economic evaluation technique in which outcomes are expressed in monetary terms. Cost-effectiveness analysis: an economic evaluation in which outcomes are expressed in health units such as life years saved. Cost-utility analysis: an economic evaluation technique in which outcomes are expressed in health units that capture not just the quantity but quality of life. Economic evaluation: compares the costs and consequences of alternative health care intervention to asses their value for money. Sensitivity analysis: the proves of assessing the robustness of the findings of an economic evaluation by varying the assumptions used in the analysis. A day in the life of a health minister. As free markets rarely exist in health care, decision have to be made about which health services should be funded in the face of resource scarcity. There are difficult decisions to make especially when medical technologies are improving and expanding, real incomes are increasing and many countries have an aging population.
