This article demonstrates cost-effectiveness analysis to evaluate efficiency among multiple choices, indicating its importance in guiding decision-making.
In this fifth article in a series on health economics, we focus on choosing the best option among multiple choices. Leaders must understand how to rule out poor choices and then decide which of the remaining options is best. Building on previous articles, we focus on a concept called the efficiency frontier and show how cost-effectiveness analysis is used to inform choices among options on the frontier. Knowledge of how to choose among multiple options can help leaders in complicated scenarios where optimal courses of action may not be immediately evident.
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Hoch et al. (2025) studied this question.
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