Table 2

5 types of economic evaluations

Economic evaluationDefinition
Cost minimisation analysis (CMA)An analytic tool for estimating the costs of strategies when the effects are equal.
Cost consequence analysis (CCA)An analytic tool in which incremental costs and consequences are listed without any attempt to aggregate them.
Cost effectiveness analysis (CEA)An analytic tool in which incremental costs and effects are combined into a ratio, and effects are measured in a common natural unit.
Cost utility analysis (CUA)A specific form of CEA in which effects are measured in costs per quality adjusted life years (QALYs) gained.
Cost benefit analysis (CBA)An analytic tool for estimating the net social benefit of a strategy in which both costs and effects are measured in currency.