Costs
Costs refers to the monetary value associated with the production of goods and services. In the context of healthcare, costs can be categorized into direct and indirect costs. Direct costs are those that are directly attributable to the provision of healthcare services, such as the cost of drugs, medical devices, and healthcare professionals' time. Indirect costs are those that are not directly attributable to the provision of healthcare services, such as the cost of lost productivity due to illness or disability.
Direct Costs[edit | edit source]
Direct costs in healthcare are those that are directly attributable to the provision of healthcare services. These include the cost of drugs, medical devices, and healthcare professionals' time. Direct costs can be further categorized into fixed and variable costs. Fixed costs are those that do not change with the level of output, such as the cost of building and maintaining a hospital. Variable costs are those that change with the level of output, such as the cost of drugs and medical supplies.
Indirect Costs[edit | edit source]
Indirect costs in healthcare are those that are not directly attributable to the provision of healthcare services. These include the cost of lost productivity due to illness or disability, the cost of informal care provided by family members and friends, and the cost of premature death. Indirect costs can be difficult to measure and are often underestimated in economic evaluations of healthcare interventions.
Cost-Effectiveness Analysis[edit | edit source]
Cost-effectiveness analysis is a method of economic evaluation that compares the costs and effects of different healthcare interventions. The aim of cost-effectiveness analysis is to identify interventions that provide the best value for money, in terms of health outcomes achieved per unit of cost. Cost-effectiveness analysis is increasingly used in healthcare decision-making to inform the allocation of scarce resources.
See Also[edit | edit source]
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