Chapter

Principles of economic evaluation

Sarah Willis

in Supportive Care in Respiratory Disease

Second edition

Published in print January 2012 | ISBN: 9780199591763
Published online May 2012 | e-ISBN: 9780191739149 | DOI: http://dx.doi.org/10.1093/acprof:oso/9780199591763.003.0004

Series: Supportive Care Series

Principles of economic evaluation

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Economic evaluation is an explicit way of valuing an intervention in terms of its opportunity cost. It is a transparent framework that helps determine the relationship between outcomes, in terms of patients' health, and cost, in terms of resources used. The analysis attaches equal importance to the expected health benefits and the cost of obtaining them, and therefore makes explicit the health benefits achieved from a given amount of resources. The ultimate aim of economic evaluation is thus to ensure that the available resources are used in such a way that overall health is maximized for the entire population. This chapter sets out the essential steps in carrying out an economic evaluation in practice.

Keywords: economic evaluation; intervention; medical costs; patient health; health benefits

Chapter.  3951 words.  Illustrated.

Subjects: Palliative Medicine

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