Improvement in the benefits of a program relative to its cost.
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 such as drugs and devices. It helps to inform healthcare decision-making as to allocation of funding and finding ways to deliver healthcare more efficiently.
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.
Organizations, repositories, websites, and other sources where you can find more information:
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Cost effectiveness research by nature is focused on a specific topic such as cardiology or vaccines. Studies may not be available for all topics.
Articles, books, and other publications in translational science using the indicator: