As health care expenditures continue to increase annually, pressure rises to contain spending. Clinicians are partially responsible for cost containment and can help optimize spending by utilizing more cost-effective interventions. An understanding of economic evaluations, particularly cost-effectiveness analysis, will help physicians make well-informed decisions when choosing between different treatments for their patients. This paper describes different types of economic evaluations with a focus on cost-effectiveness analysis. A hypothetical study is included to illustrate how a cost-effectiveness analysis evaluation is performed. By understanding and considering the economic value of appropriate interventions, clinicians can ensure they are providing evidence-based care for their patients and the population as a whole.
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