A Primer on Cost-Effectiveness Analysis

Rachel H Albright; Adam E Fleischer

doi:10.1016/j.cpm.2023.07.006

A Primer on Cost-Effectiveness Analysis

Clin Podiatr Med Surg. 2024 Apr;41(2):313-321. doi: 10.1016/j.cpm.2023.07.006. Epub 2023 Aug 20.

Authors

Rachel H Albright¹, Adam E Fleischer²

Affiliations

¹ Depatment of Surgery, Podiatry, Foot & Ankle Surgery, Stamford Health Medical Group, 800 Post Road, Suite 302, Darien, CT 06820, USA. Electronic address: albrightrh@gmail.com.
² Weil Foot & Ankle Institute, 1660 Feehanville Drive, Suite 100, Mount Prospect, IL 60056, USA; Rosalind Franklin University of Medicine & Science, 3333 Green Bay Road, North Chicago, IL 60064, USA.

PMID: 38388127
DOI: 10.1016/j.cpm.2023.07.006

Abstract

A cost-effectiveness analysis (CEA) is a type of health economics model that uses a systematic approach to simplify the complexities that exist in health-care decision-making. A CEA aids in medical decision-making by considering both the costs of a treatment and how effective that treatment is for at least 2 competing strategies. This article reviews major concepts of CEA including results interpretation, key attributes of CEA that make it differ from cost analysis, uncertainty surrounding analysis, and how/why CEA is an important contributor to the medical literature.

Keywords: Cost analysis; Cost-effectiveness analysis; Health economics.

Publication types

Review

MeSH terms

Cost-Benefit Analysis
Cost-Effectiveness Analysis*
Humans