Economic evaluations have been applied in the field of healthcare for several decades
with the principle aim of improving the economic efficiency of resource allocation, i.e.,
help maximizing benefits from available (and constrained) resources. Broadly speaking,
“economic evaluation is the comparative analysis of alternative courses of action in terms
of both their costs and consequences” (Drummond et al., 1997). Economic evaluations
became reasonably well-accepted in the decision-making process within the systems of
different countries because they offer a promise of a systematic and transparent framework
for deciding which intervention - among alternative interventions - to fund from a restricted
budget. That is, once efficacy and effectiveness have been established, decision-makers can
decide between competing interventions based on their relative cost-effectiveness and thus
maximize the aggregate (value of) health benefits attained.http://repub.eur.nl/res/pub/32245/Ana%20thesis.pdf
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