Cost effectiveness

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Translational Science Benefits

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Clinical

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Community

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Economic

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Policy

Economic benefits (Financial savings & benefits)

Definition

Improvement in the benefits of a program relative to its cost. Cost-effectiveness analysis takes into account differences in medical costs, productivity, health outcomes with and without the intervention in place. Cost-effectiveness can be assessed for drugs, devices, programs, or other services.

Rationale

Cost effectiveness is used as an analytic tool to assess which medical care should be provided by comparing the cost and effectiveness of different interventions. It helps to inform healthcare decision-making as to allocation of funding and finding ways to deliver healthcare more efficiently.

Guidance

Advice from authors on searching for information:

Cost savings and cost effectiveness are distinct concepts that are often confused or used interchangeably. Newly developed and established drugs, procedures, and other interventions that decrease costs is cost saving. However, if the benefits provided by the drugs, procedures, and other interventions are sufficient, the intervention is considered to be cost-effective even if costs are not reduced.  Refer to the Robert Wood Johnson Foundation Cost Savings and Cost-Effectiveness of Clinical Preventive Care policy brief for more information.

Groups such as government agencies (federal, state, and local), institutions, professional societies, governing boards, or expert panels, can conduct cost effectiveness analyses.  Cost effective analyses are also conducted by non-governmental agencies such as hospitals, schools, or specialty organizations. Consult the website of pertinent organizations for analyses related to a disease, disorder, or condition.

Resources & Data

Organizations, repositories, websites, and other sources where you can find more information:

Data Limitations

Challenges you may encounter while searching for information:

Cost effectiveness research by nature is focused on a specific topic such as cardiology or vaccines. Studies may not be available for all topics.

Publications

Articles, books, and other publications in translational science using the indicator:

Case Studies

Examples of foods that may be included in some of the weight loss diets described in this Case Study.

Comparing the Metabolic Effects of Different Weight Loss Diets

By ICTS and Washington University in St. Louis

Measuring key metabolic effects of three weight loss diets to improve individualized obesity treatment

Collaboration Across Campuses: The NCCU Clinical Research Sciences Program

By Duke University Clinical & Translational Science

Creating an environment for producing a highly trained and diverse workforce in clinical research