HSS 3332 Lecture Notes - Lecture 14: Opportunity Cost
16 Oct 2016
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1 perfect year of health will cost ,000 vs 1 year of perfect health for ,000. Everyone has need and wants that outweigh the money we have. With each choice there is some sort of opportunity cost associated with it. Economic evaluations is a systematic way to compare costs and consequences. We look at cost (minimize the cost) and maximize the benefits. The time spent in the hospital, the systematic cost to the hospital and patient (minimize) It leads the same /lower cost but does better. Works about the same and it is cheaper. Situation we normally get is: that it cost less and does less or cost more and does more. Cadth is not the only one who does this in canada, assessment is done all over the country. They should provide an unbiased assessment of the technology. Mandate is to provide evidence based information for decision makers. Role of hta- encourage the appropriate use of health technology.
