From: Issues of cost-benefit and cost-effectiveness for simulation in health professions education
Analysis | Description of measurement of benefits/effects | Hypothetical example applied to simulation |
---|---|---|
Cost minimisation analysis (CMA) | A comparison of costs when the effects are considered equal in all respects | Measurement of the simulation education method versus an alternative education method produced equivalent learning outcomes within a meaningful threshold; however, the simulation method is less costly. |
Cost-effectiveness analysis (CEA) | Benefits/effects are measured in natural units (e.g. students educated) | Measurement of the simulation education method resulted in less clinical errors by the learner than the alternative education method. |
Cost utility analysis (CUA) | Benefits/effects measured in ‘utility’ units—e.g. a measure of satisfaction derived from consumption/attainment of benefit | Measurement of the simulation education method resulted in higher levels of patient satisfaction with their care compared to the alternative education method. |
Cost benefit analysis (CBA) | Benefits monetized | The simulation education method was measured to be of higher value (willingness to pay) by the learners when compared to the alternative education method. |