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Economic evaluation in healthcare refers to the systematic process of comparing the costs and outcomes of different healthcare interventions, programmes, or policies to determine their efficiency and value. It is an important component of health economics because healthcare resources are limited, while the demand for healthcare services continues to increase. Economic evaluation helps policymakers, healthcare providers, and organizations make rational decisions about the allocation of scarce resources to achieve maximum health benefits. The basic concept of economic evaluation involves identifying, measuring, valuing, and comparing both the costs and consequences of alternative healthcare ________ _________ __________ ______ ________ ___ ___ _____ __________ ________ ________.
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