Flavors and Purposes of Cost-Inclusive Evaluation: Making Evaluation Even More Useful to More Stakeholders
Session Number: 2180
Track: Costs, Effectiveness, Benefits, and Economics
Session Type: Demonstration
Tags: Cost-benefit analysis, Cost-effectiveness analysis, cost-inclusive evaluation, cost-utility analysis, Social Return On Investment (SROI)
First Author or Discussion Group Leader: Brian T Yates, Ph.D. [Professor - American University]
Second Author or Discussion Group Leader: Nadini Persaud, Ph.D., CPA., CGA [Program Coordinator, M.Sc. Project Management and Evaluation; Lecturer in Evaluation - University of the West Indies]
Time: Nov 09, 2017 (02:15 PM - 03:00 PM)
Theme: Learning to Enhance Evaluation
Audience Level: Beginner
Session Abstract (150 words):
This demonstration uses real examples from program evaluations in health, mental health, substance abuse prevention, substance abuse treatment, and other human services to help participants learn the many types of evaluation called "cost studies":
- cost assessment (CA) and feasibility analysis,
- cost-effectiveness analysis, including
- program-specific outcomes (traditional CEA),
- incremental cost-effectiveness ratios (ICERs),g
- cost-utility analysis (CUA), including
- Quality-Adjusted Life Years Gains (QALYGs),
- Disability-Adjusted Life Years Gained (DALYGs),
- cost-benefit analysis (CBA),
- benefit/cost ratio,
- net benefit (benefits - costs),
- return on investment (ROI),
- time to ROI (TROI), and
- social return on investment (SROI)
Advantages of each are illustrated with individual- and program-level evaluations. Consideration is given to how cost-inclusive evaluation can be added to some evaluations already in progress, as well as difficulties in adding cost and benefit evaluation to randomized clinical trials that were designed for for outcome rather than cost evaluation.
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