Question

give an example of a situation in which a cost-benefit analysis and an example of a situation in which a cost effectiveness analysis would be appropriate

Answer 1

Cost benefit analysis:is also known as benefit cost analysis, it is the process whereby a project or policy is assessed for its social and welfare benefits as well as the financial returns on a project or policy decisions example is potential saving from avoided resource use includes ,avoidance pf expenditures foe treatment, professional service, medical test, travel cost etc,like giving a drug benefit is downstreaming to adminstration of drug less complication, money saved or if comparision bwtween 2 drug one might require less monitoring of the otherwhich could save money.cost effectivness analysis:it is measuring of costs in monetary units and outcome in natural health units that indicates an improvement in health examples are hypertension patient taking drug and there is reduction of blood pressure and diabetes patient on intake of diabetic drugs there is change in HbA1Clevel