In Brief: Cost-effectiveness Analyses in Orthopaedics
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Cost-effectiveness has become increasingly important for physicians [2, 28]. However, cost-effectiveness analyses can vary considerably in quality owing to wide differences in available data on which to base the analyses. Many physicians do not have sufficient knowledge of economic analysis and access to relevant databases to appraise and interpret economic analyses, whereas economists and policymakers lack the clinical insight physicians have acquired during the years.
What are the common methods of economic analyses in orthopaedics?
Two facts dictate economic reality: scarcity, or the fact that there is only so much money, time, etc; and opportunity cost, the cost of choosing to do one thing instead of something else. Therefore, it seems prudent and ethical to put all (extra) money where it does the most good. Current estimates suggest approximately 1/3 of the money spent on health care in the US is spent because of misuse, overuse, or underuse . Properly
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- In Brief: Cost-effectiveness Analyses in Orthopaedics
Clinical Orthopaedics and Related Research®
Volume 469, Issue 8 , pp 2395-2398
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- 1. Department of Orthopedic Surgery, Children’s Hospital Boston, Harvard Medical School, 300 Longwood Avenue, Enders 1016, Boston, MA, 02115, USA
- 2. Harvard Center for Population and Development Studies, Harvard School of Public Health, Boston, MA, USA
- 3. Stryker Europe, Fomello, Rome, Italy