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[Music] hello and welcome to a short educational video on cost effectiveness my name is alyssia cell and im a health economics and outcomes researcher with medtronic and im happy to be here with you to discuss what a cost-effectiveness analysis is and how it is used globally cost-effectiveness analyses are used around the world to shape health policy and access to medical interventions for example pharmaceutical drugs and medical devices in countries with a centralized health budget like the united kingdom and australia they have a long history of embedding cost-effectiveness analyses into their decision-making process for new or novel medical interventions so what is a cost-effectiveness analysis cost effectiveness is a methodology to evaluate which interventions provide the highest value for the cost associated in a cost effectiveness analysis the value of an intervention is measured using quality adjusted life years also referred to as qualis which is a generic measure of disease
