Essay On Cost Benefit Analysis
Introduction
Health is a major concern of every society and every country. It is the fundamental for human prograss.People with sound health can accelerate the pace of economic and social development. The constitution of world Health Organisation says ‘employment of the highest standard of health is one of the fundamental rights of every human being with distinction of race, religion, political belief economic and social conditions. The famous saying ‘Health is Wealth. ‘stands true to the fact that the level of development achieved by a society is often determined on the basis of the level of health and the system of health prevalent in the society.
Objectives:
1. To analyse the problem of health care in India.
2. To study the cost-benefit
…show more content…
To analyse the health achievement during the 1st and 10th Five Year Plan.
Cost- Benefits Analysis of Health Care
Cost benefits analysis is a term that refers both to…
1. Helping to appraise, or assess, the case for a project or proposal, which itself is a process known as project appraisal: and
2. An informal approach to making economic decisions of any kind.
Under both definitions the process involves, whether explicitly or implicitly, weighing the total expected costs against the total expected benefits of one or more actions in order to choose or more profitable option. Cost – benefit analysis is typically used by governments to evaluate the desirability of a given intervention. It is heavily used in today’s governments. It is an analysis of the cost effectiveness of different alternatives in order to see whether the benefits outweigh the costs. The cost and benefits of the impacts of an intervention are evaluated in terms of the public’s willingness to pay for them (benefit) or willingness to pay to avoid them (costs).
Cost –benefits analysis is used mainly to assess the monetary value of very large private and public sector projects. Thepractice of cost-benefit analysis differs between countries and between sectors (e.g., transport,
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