A. Cost minimization analysis B. Cost-effectiveness analysis C. Cost-utility analysis D. Cost-benefit analysis
Clinical economics is a branch of health economics, a cross-disciplinary discipline developed in recent years, which refers to the use of economic principles and methods under the guidance of economic theories to evaluate clinically-used medications, diagnostic and treatment protocols, instruments and equipment, and other clinical technical measures. It refers to the application of economic principles and methods under the guidance of economic theory to evaluate the clinical use of drugs, diagnostic and treatment programs, instruments and equipment, and other clinical technical measures, and to provide decision-making information for clinical personnel and policy makers. In general, clinical economics can guide clinical staff to rationally utilize limited health resources from an economic perspective, which is very important for clinical research and practice.
The basic elements of clinical economics analysis include:
As can be seen from the figure, it is a process from inputs (costs) to outputs (outcomes), and how to get the best results at the least cost, which is the purpose and significance of clinical economic analysis.
Types of clinical economic analysis, including least-cost analysis, cost-effectiveness analysis, cost-benefit analysis, cost-utility analysis. (1) Minimum cost analysis: assuming that multiple clinical service programs have the same outcome, the analysis of the minimum cost is the best program. For example, comparison of outpatient + inpatient treatment for osteomyelitis and conventional inpatient treatment.
(2) Cost-utility analysis: it is to consider cost and effectiveness together and evaluate the results obtained after cost consumption. This is the most commonly applied method. Expressions include: cost-effect ratio (cost expended per unit of effect), incremental ratio (incremental cost expended per increased effect). Comparisons can only be made between different interventions for the same disease or condition. For example, a comparison of H. pylori triple therapy and quadruple therapy.
(3) Cost-utility analysis: a special form of cost-effectiveness analysis in which the outcome measure is a composite of disability and death as a result, usually expressed in quality-adjusted life years. It allows comparison of different interventions for different diseases or conditions. For example, a comparison between a kidney transplant program and anti-hypertensive stroke prevention and treatment.
(4) Cost-benefit analysis: expresses both the costs and health outcomes of health care services in monetary units. It is sometimes more difficult to convert outputs into monetary form, so it is more rarely used.
That's all for now here. Through this small article, we have learned about the importance of economic analysis in clinical research and practice and its main types.