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What is economic evaluation and what questions can it help to answerKey termscostbenefit analysis an economic evaluation technique in which outcomes are expressed in monetary termscosteffectiveness analysis an economic evaluation in which outcomes are expressed in health units such as life years savedcostutility analysis an economic evaluation technique in which outcomes are expressed in health units that capture not just the quantity but quality of lifeeconomic evaluation compares the costs and consequences of alternative health care intervention to asses their value for moneysensitivity analysis the proves of assessing the robustness of the findings of an economic evaluation by varying the assumptions used in the analysisA day in the life of a health ministeras free markets rarely exist in health care decision have to be made about which health services should be funded in the face of resource scarcitythere are difficult decisions to make especially when medical technologies are improving and expanding real incomes are increasing and many countries have an aging populationImpact of health problemsa key priority of many societies around the world is the alleviation of health problems disease injury or a risk factor for one of thesethe impact of health problems can be measured as the number of cases the number of deaths the amount of disability or suffering the amount of money spent on a health problem the number of people with a risk factor and so onResources needed for an interventionYou need to what interventions costdetermining the cost of an intervention can sometimes be complicatedknow the inputsOutcomes or consequencesthe goal of an intervention is to reduce the impact of a health problem For economic evaluations you need to measure how much the impact is reduced Specifically you need to know what occurs as a result of the intervention in other words the outcome or consequences of the interventionTypes of economic evaluation
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