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Costs and cost-effectiveness in critical care 

Costs and cost-effectiveness in critical care
Chapter:
Costs and cost-effectiveness in critical care
Author(s):

David J. Wallace

and Derek C. Angus

DOI:
10.1093/med/9780199600830.003.0022
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date: 26 January 2021

Critical care accounts for a large and growing part of national health expenditures. Cost-effectiveness analyses are one way to identify therapies that maximize society’s return on investment. This chapter provides a broad overview of four cost study designs—cost-minimization, cost-benefit, cost-effectiveness, and cost-utility. Cost -effectiveness analysis allows the costs and benefits of different therapies to be directly compared. Within a constrained budget, cost-effectiveness analysis can identify the optimal therapies for funding. Policy informed by cost effectiveness should improve public health. The reader is introduced to the concepts of cost perspective, included costs and cost discounting. We conclude by describing policy implications of cost effectiveness evaluations and highlight their relevance to the Patient-Centered Outcomes Research Institute.

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