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- HERC: Cost-Effectiveness Analysis

  For example, healthier parents will be able to provide better care for their children, healthier workers will be more productive in the workplace, and healthier families may avoid falling into poverty. If the interventions that are being compared have similar characteristics, such as all being offered at a similar facility, then including these other costs will not alter the ranking of interventions, but comparisons across interventions that are dissimilar could yield different results if the ratios are otherwise close. Some health interventions are aimed directly at reducing mortality, but many are aimed at reducing the severity of illness and improving the quality of life. Received : 06 May  

- Cost effectiveness analysis cost effectiveness analysis

  Cost-effectiveness analysis (CEA) has been used as a tool for addressing issues of efficiency in the allocation of scarce health resources. Cost–effectiveness analysis. Analysis comparing the intervention cost, with the ac- tual or expected health gains (effectiveness). Cost–effectiveness ratio. Cost-effectiveness analysis is.    

 

- Cost-effectiveness analysis. - PMC

   

For example, if it is the number of pregnant women attending antenatal care, then how many visits do they need to attend? What if they only attend some visits? The outcome needs to be measured the same way every time. If you are comparing the cost effectiveness for two activities then you need to measure the outcome in question for both activities. Say you want to compare one-on-one outreach with mass SMS messages. For example, 25 women out of a group of Then you would need a second group of pregnant women who receive one-on-one outreach visits.

That means the one-on-one outreach resulted in 17 extra women attending antenatal care. You also need a third group of women who receive SMS messages reminding them to attend antenatal care.

Count how many of them attended. The next step is to work out how much each activity cost. Make sure you take into account every cost associated with the activity, including the cost of the time that staff spend organising and implementing it. Keeping with the same example, this would mean adding up all the costs for the one-on-one outreach sessions, then separately adding up all the costs for the SMS messaging.

To calculate the cost-effectiveness for each activity divide the total costs by the outcome. The use of cutting-edge technology is often expensive, and the reality is that our society cannot afford all the screening and diagnostic tests that are being developed. At the societal level, we need tools to help us decide which health programs should be funded. Therefore, decision makers are increasingly looking toward scientific methods to compare health technologies in order to improve allocation of resources.

It also has ancillary benefits e. This combination of soft and hard value might make Pharmaceutical B the more attractive choice despite a smaller short-term ROI. Cost-effectiveness studies are about more than simple economic evaluation.

Identifying the necessary trade-offs and controlling intervention costs requires the ability and tools to conduct systematic reviews of potential activities and their outcomes—and synthesize cohesive insights that guide resource allocation, capital investment, policy changes, etc.

A comprehensive, centralized software solution such as Planergy provides you with the process automation, data analysis, and artificial intelligence capabilities needed to explore cost effectiveness for a single intervention in multiple dimensions, using multiple metrics, on demand. Centralizing data management provides a rich, robust, and interconnected datasphere drawing from diverse sources to provide optimal context and clarity.

It eliminates common challenges that can hamper CEA, including data opacity, data silos, and methodological inconsistency. And process automation and artificial intelligence provide speed, accuracy, and versatility manual processes and workflows simply cannot match. By understanding its capabilities and limitations, your decision makers can gain invaluable insights they need to improve processes, expand market penetration, and shift away from relying solely on cost management and toward value creation and cultivation.

Browse hundreds of articles , containing an amazing number of useful tools, techniques, and best practices. Many readers tell us they would have paid consultants for the advice in these articles. Sign up with your email to receive updates from our blog. Clients and results. More Customers. Cristian Maradiaga. King Ocean. Book a Live Demo. Download a free copy of "Indirect Spend Guide", to learn:.

Where the best opportunities for savings are in indirect spend. How to gain visibility and control of your indirect spend. How to report and analyze indirect spend to identify savings opportunities. How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. Download Free Copy. Written by Rob Biedron 18 min read. Cost Management Productivity Profitability. Download PDF. What is a Cost Effectiveness Analysis?

This method is used in a variety of different applications, including but not limited to: Marketing , where metrics are used in determining the long-term value of marketing initiatives. Examples include testing the conversion rates for different campaigns, customers completing purchases vs.

Purchasing, where CEA is applied to improve decision making and select goods and services that deliver optimal results. In some cases, a slightly more expensive option may provide substantially greater performance, longevity, sustainability, etc. The most effective purchase is one that considers the immediate and the long-term, as well as the concrete e.

Health and medicine, where CEA helps inform health policy, provide payers with maximum value through lower TCO and higher ROI, and ensure effective asset allocation for different health services.