Cost effectiveness analysis

Jeremy Lauer, Melanie Bertram, Alec Morton

Research output: Chapter in Book/Report/Conference proceedingChapter

Abstract

Cost-effectiveness analysis (CEA) is a form of economic evaluation concerned with efficiency: that is, with achieving the most for the resources ( “value for money”). For example, imagine that you have billions of dollars to allocate to global health and have to decide how to spend it. Or, you are a minister of health who wants to rationalize the use of your budget. Or imagine you are the head of an agency mandated to improve human health, and you need to know what strategies to recommend. The primary aim of this chapter is to show that, in each of these cases, you ought to know something about CEA if you want to achieve your objectives. Fortunately, a number of excellent standard accounts are available (Jamison, 2009; Sculpher et al., 2017). So rather than retrace well-trodden ground, this chapter offers a complementary approach intended to respond to the needs of non-economists. It also offers a novel perspective on CEA that should be of interest to specialists. A related aim of the chapter is to explain why – in spite of its relevance – CEA remains underused for problems like those mentioned above, and misused in many cases where it is applied. We attempt to show therefore both why CEA is often appealed to and why its basic principles remain opaque.
LanguageEnglish
Title of host publicationGlobal Health Priority-Setting
Subtitle of host publicationBeyond Cost-Effectiveness
EditorsOle F. Norheim, Ezekiel J. Emanuel, Joseph Millum
Place of PublicationOxford
Chapter5
Publication statusAccepted/In press - 2 Nov 2019

Fingerprint

Cost-effectiveness analysis
Economic evaluation
Resources
Global health
Value for money
Health
Human health

Keywords

  • global health
  • cost effectiveness analysis
  • priority setting
  • economic evaluation

Cite this

Lauer, J., Bertram, M., & Morton, A. (Accepted/In press). Cost effectiveness analysis. In O. F. Norheim, E. J. Emanuel, & J. Millum (Eds.), Global Health Priority-Setting: Beyond Cost-Effectiveness Oxford.
Lauer, Jeremy ; Bertram, Melanie ; Morton, Alec. / Cost effectiveness analysis. Global Health Priority-Setting: Beyond Cost-Effectiveness. editor / Ole F. Norheim ; Ezekiel J. Emanuel ; Joseph Millum. Oxford, 2020.
@inbook{ca0f67f83ada4d0e99a4b35887d57453,
title = "Cost effectiveness analysis",
abstract = "Cost-effectiveness analysis (CEA) is a form of economic evaluation concerned with efficiency: that is, with achieving the most for the resources ( “value for money”). For example, imagine that you have billions of dollars to allocate to global health and have to decide how to spend it. Or, you are a minister of health who wants to rationalize the use of your budget. Or imagine you are the head of an agency mandated to improve human health, and you need to know what strategies to recommend. The primary aim of this chapter is to show that, in each of these cases, you ought to know something about CEA if you want to achieve your objectives. Fortunately, a number of excellent standard accounts are available (Jamison, 2009; Sculpher et al., 2017). So rather than retrace well-trodden ground, this chapter offers a complementary approach intended to respond to the needs of non-economists. It also offers a novel perspective on CEA that should be of interest to specialists. A related aim of the chapter is to explain why – in spite of its relevance – CEA remains underused for problems like those mentioned above, and misused in many cases where it is applied. We attempt to show therefore both why CEA is often appealed to and why its basic principles remain opaque.",
keywords = "global health, cost effectiveness analysis, priority setting, economic evaluation",
author = "Jeremy Lauer and Melanie Bertram and Alec Morton",
year = "2019",
month = "11",
day = "2",
language = "English",
isbn = "9780190912765",
editor = "Norheim, {Ole F.} and Emanuel, {Ezekiel J.} and Joseph Millum",
booktitle = "Global Health Priority-Setting",

}

Lauer, J, Bertram, M & Morton, A 2020, Cost effectiveness analysis. in OF Norheim, EJ Emanuel & J Millum (eds), Global Health Priority-Setting: Beyond Cost-Effectiveness. Oxford.

Cost effectiveness analysis. / Lauer, Jeremy; Bertram, Melanie; Morton, Alec.

Global Health Priority-Setting: Beyond Cost-Effectiveness. ed. / Ole F. Norheim; Ezekiel J. Emanuel; Joseph Millum. Oxford, 2020.

Research output: Chapter in Book/Report/Conference proceedingChapter

TY - CHAP

T1 - Cost effectiveness analysis

AU - Lauer, Jeremy

AU - Bertram, Melanie

AU - Morton, Alec

PY - 2019/11/2

Y1 - 2019/11/2

N2 - Cost-effectiveness analysis (CEA) is a form of economic evaluation concerned with efficiency: that is, with achieving the most for the resources ( “value for money”). For example, imagine that you have billions of dollars to allocate to global health and have to decide how to spend it. Or, you are a minister of health who wants to rationalize the use of your budget. Or imagine you are the head of an agency mandated to improve human health, and you need to know what strategies to recommend. The primary aim of this chapter is to show that, in each of these cases, you ought to know something about CEA if you want to achieve your objectives. Fortunately, a number of excellent standard accounts are available (Jamison, 2009; Sculpher et al., 2017). So rather than retrace well-trodden ground, this chapter offers a complementary approach intended to respond to the needs of non-economists. It also offers a novel perspective on CEA that should be of interest to specialists. A related aim of the chapter is to explain why – in spite of its relevance – CEA remains underused for problems like those mentioned above, and misused in many cases where it is applied. We attempt to show therefore both why CEA is often appealed to and why its basic principles remain opaque.

AB - Cost-effectiveness analysis (CEA) is a form of economic evaluation concerned with efficiency: that is, with achieving the most for the resources ( “value for money”). For example, imagine that you have billions of dollars to allocate to global health and have to decide how to spend it. Or, you are a minister of health who wants to rationalize the use of your budget. Or imagine you are the head of an agency mandated to improve human health, and you need to know what strategies to recommend. The primary aim of this chapter is to show that, in each of these cases, you ought to know something about CEA if you want to achieve your objectives. Fortunately, a number of excellent standard accounts are available (Jamison, 2009; Sculpher et al., 2017). So rather than retrace well-trodden ground, this chapter offers a complementary approach intended to respond to the needs of non-economists. It also offers a novel perspective on CEA that should be of interest to specialists. A related aim of the chapter is to explain why – in spite of its relevance – CEA remains underused for problems like those mentioned above, and misused in many cases where it is applied. We attempt to show therefore both why CEA is often appealed to and why its basic principles remain opaque.

KW - global health

KW - cost effectiveness analysis

KW - priority setting

KW - economic evaluation

UR - https://global.oup.com/academic/product/global-health-priority-setting-9780190912765

M3 - Chapter

SN - 9780190912765

BT - Global Health Priority-Setting

A2 - Norheim, Ole F.

A2 - Emanuel, Ezekiel J.

A2 - Millum, Joseph

CY - Oxford

ER -

Lauer J, Bertram M, Morton A. Cost effectiveness analysis. In Norheim OF, Emanuel EJ, Millum J, editors, Global Health Priority-Setting: Beyond Cost-Effectiveness. Oxford. 2020