Abstract
Public policy makers, hospital administrators, employers, physicians, and patients are currently seeking medical care that is both high-quality and cost-effective. As a result, the literature relating to various health care procedures and therapies now contains applications of the techniques of cost-benefit analysis (CBA) and cost-effectiveness analysis (CEA), along with discussions of safety and efficacy.
Although CBA/CEA is predicted upon logical comparisons of costs, benefits, and effectiveness rates, the application of the specific methodology is typically subjective, reflecting the investigator's perspectives and biases. The use—and misuse—of CBA/CEA depend upon the methods employed, particularly the assumptions underlying the analysis, and the interpretation of the findings.
Methods of CBA/CEA will be identified and discussed. Recent applications of these methods to specific cases involving beta blockers will be presented.
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