, Volume 469, Issue 8, pp 2395-2398

In Brief: Cost-effectiveness Analyses in Orthopaedics

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Background

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.

Question

What are the common methods of economic analyses in orthopaedics?

Discussion

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 [6]. Properly

Each author certifies that he or she has no commercial associations (eg, consultancies, stock ownership, equity interest, patent/licensing arrangements, etc) that might pose a conflict of interest in connection with the submitted article.