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Essay / Research Paper Abstract
This 5 page paper provide an overview of the economic concept of cost/benefit analysis (CBA) and considers the specific application of the CBA in healthcare. This paper integrates a view of the current healthcare environment and the application of CBA. Bibliography lists 1 sources.
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5 pages (~225 words per page)
File: MH11_MHEcoHea.rtf
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Unformatted sample text from the term paper:
CBA and Healthcare: An Article Review Research Compiled by 11/2001 Please The increasing
cost of healthcare and questions about the benefits of certain treatments has led to the integration of an economic perspective and the application of cost/benefit analysis (CBA) in determining the
effectiveness of ineffectiveness of certain procedures and programs compared to the financial investment or cost. Cost-benefit analysis has been utilized as a component of determining the link between the
operational components of government agencies, businesses and health care facilities and their outcomes in terms of cost-effectiveness. Russell et al (1996), in the article The Role of Cost-Effectiveness Analysis
in Health and Medicine, specifically consider this problem. Cost-benefit analysis (CBA) has come into focus in recent years as a means of applying business and accounting principles to different
public and private entities, including government and health care facilities. Critics of CBA have suggested that this flourishing practice is in desperate need of justification, based on the fact
that it reduces non-monetary elements to monetary sums, and the evaluates them by comparing total money costs to the total verifiable benefits, projecting a single monetary amount which is then
defined as the indicator of positive or negative cost effectiveness (Russell et al, 1996). The problems that stem from this process is that not all of the benefits
that are derived from any single process can be evaluated strictly in terms of monetary outcomes. The application of cost-benefit analysis requires an evaluation of the resources consumed in treatment
(costs), the benefits of the treatment process (in terms of patient health outcomes) and the measurement of costs and outcomes through a comparative model that defines health outcomes in terms
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