What do you think are the pros and cons of cost-effectiveness analysis, and which metrics used for evaluating effectiveness could be more useful? Please elaborate on your answer and provide at least 4...

WRITTEN ASSIGNMENT        2
WRITTEN ASSIGNMENT
Table of contents
Introduction    3
Pros of CEA    3
Cons of CEA    4
Alternative Metrics for Evaluating Effectiveness    4
Conclusion    5
References    6
Introduction
    A decision-making method called cost-effectiveness analysis (CEA) is used to assess the financial advantages of healthcare interventions in terms of their costs and results. Using a standard measure, such as quality-adjusted life years (QALYs) or disability-adjusted life years (DALYs), CEA entails weighing the costs of competing therapies against their efficacy. Despite being frequently utilized in health economics and policy, CEA has benefits and drawbacks. With the use of academic sources, this report will explore the advantages and disadvantages of CEA and provide substitute measures for assessing performance.
Pros of CEA
· Offers a standard metric for comparing treatments: Regardless of the illness or condition being treated, CEA offers a standard language and metric for evaluating the costs and effects of various healthcare interventions (Sanders, Maciejewski, & Basu, 2019). This makes it possible for decision-makers to compare the relative worth of treatments in a fair and consistent way.
· Facilitates optimal resource allocation by assisting decision-makers in allocating limited healthcare funds to the most efficient and economical interventions. Decision-makers may discover which initiatives have the greatest health benefits for a given budget and prioritize their deployment by comparing the costs and results of various interventions.
· Promotes innovation: CEA promotes innovation by offering incentives for the creation of novel treatments that are both effective and economical. CEA can encourage the development of novel technologies and therapies by rewarding interventions that offer better health benefits at a reduced cost.
Cons of...