Economic evaluation is the process of systematic identification, measurement and valuation of the inputs and outcomes of two alternative activities, and the subsequent comparative analysis of these. The purpose of economic evaluation is to identify the best course of action, based on the evidence available. It is most commonly employed in the context of

health economics Health economics is a branch of economics concerned with issues related to Health care efficiency, efficiency, effectiveness, value and behavior in the production and consumption of health and healthcare. Health economics is important in dete ...

and health technology assessment; in the UK, the

National Institute for Health and Care Excellence The National Institute for Health and Care Excellence (NICE) is an executive non-departmental public body of the Department of Health and Social Care (United Kingdom), Department of Health and Social Care. As the national health technolog ...

publishes guidelines for the conduct of economic evaluations.

Types

Economic evaluations can take a number of forms, namely: * Cost-benefit analysis *

Cost-effectiveness analysis Cost-effectiveness analysis (CEA) is a form of economic analysis that compares the relative costs and outcomes (effects) of different courses of action. Cost-effectiveness analysis is distinct from cost–benefit analysis, which assigns a monetar ...

* Cost-utility analysis * Cost-consequences analysis

References

{{Econ-stub Health economics