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date: 27 February 2021

Cost-Benefit Analysis 

Source:
A Dictionary of Epidemiology
Author(s):

Miquel Porta

An analysis of the economic and social costs of medical care and the benefits of reduced loss of net earnings owing to the prevention of premature death or disability. The general rule for the allocation of funds in a cost-benefit analysis is that the ratio of marginal benefit (the benefit of preventing an additional case) to marginal cost (the cost of preventing an additional case) should be equal to or greater than 1. The benefit-cost ratio is the ratio of net present value of measurable benefits to costs. Calculation of a benefit-cost ratio is used to assess the economic feasibility or success of a public health program.... ...

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