Cost-effectiveness Case Assignment

Cost-effectiveness Case Assignment

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Submit a 3- to 4-page paper utilizing the selected policy from Week 1, (week 1 health policy was death pronouncement by nurses) analyzing the impact of financing and budgetary issues. In addition to this week’s resources, perform an informal literature search on the funding of your policy. Include at least two articles that discuss cost-effectiveness and cost controls pertaining to either your policy or nursing practices in general. Use these resources to respond to the following prompts: · Describe how the policy is funded and annual costs of continuing the policy for the last year. · Analyze any financial and budgetary efforts developed or being proposed to contain costs. · Relate current cost-containment strategies, including regulations, managed care efforts, or other financial and budgetary initiatives. · Describe how the financing of your policy impacts health outcomes and the role of the nurse in the workplace. · Support your responses with evidence. Support your ideas or those of others with references from the professional nursing literature. Refer to the Application Assignment Rubric prior to submission. Additional information about acceptable resources is found in the rubric.

Cost-effectiveness analysis (CEA) is a form of economic analysis that compares the relative costs and outcomes (effects) of different courses of action. Cost-effectiveness analysis is distinct from cost–benefit analysis, which assigns a monetary value to the measure of effect.[1] Cost-effectiveness analysis is often used in the field of health services, where it may be inappropriate to monetize health effect. Typically the CEA is expressed in terms of a ratio where the denominator is a gain in health from a measure (years of life, premature births averted, sight-years gained) and the numerator is the cost associated with the health gain.[2] The most commonly used outcome measure is quality-adjusted life years (QALY).[1]

Cost–utility analysis is similar to cost-effectiveness analysis. Cost-effectiveness analyses are often visualized on a plane consisting of four-quadrants, the cost represented on one axis and the effectiveness on the other axis.[3] Cost-effectiveness analysis focuses on maximising the average level of an outcome, distributional cost-effectiveness analysis extends the core methods of CEA to incorporate concerns for the distribution of outcomes as well as their average level and make trade-offs between equity and efficiency, these more sophisticated methods are of particular interest when analysing interventions to tackle health inequality.

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