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Supportive Care in Respiratory Disease$
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Sam H. Ahmedzai, David R. Baldwin, and David C. Currow

Print publication date: 2012

Print ISBN-13: 9780199591763

Published to Oxford Scholarship Online: May 2012

DOI: 10.1093/acprof:oso/9780199591763.001.0001

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Principles of economic evaluation

Principles of economic evaluation

Chapter:
(p.61) Chapter 4 Principles of economic evaluation
Source:
Supportive Care in Respiratory Disease
Author(s):

Sarah Willis

Publisher:
Oxford University Press
DOI:10.1093/acprof:oso/9780199591763.003.0004

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

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