Economic evaluation in health care
Healthcare resources are scarce, and policy makers and health planners make choices between alternative uses of resources. Economic evaluation is important when allocating scarce resources. Cost–benefit analysis, cost effectiveness analysis, and cost utility analysis are decision-making tools that help policy makers and planners examine healthcare costs and the consequences of alternative health programs, services, and interventions. Prepare at least a 5-page overview of cost effectiveness analysis and cost–benefit analysis as decision making tools in the allocation of health resources. Address the following: Define economic evaluation, and explain why it is important in healthcare. Discuss cost effectiveness analysis. Discuss cost–benefit analysis. Share your views on the application of the two approaches in resource APA format, please include abstract
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APA Format, 1636 words