Healthcare Economic Evaluation: Phage Therapy vs Nanotherapy

This report presents an economic evaluation of healthcare services, specifically comparing Phage Therapy and Nanotherapy as potential cancer treatments. The study highlights the significance of health economic evaluation in guiding choices of public health interventions and improving the quality of life. The report details the methods of economic evaluation, including cost analysis and benefit assessment, and provides an overview of the current status of cancer in Australia. It then explores the cost estimations and benefits associated with both Phage Therapy and Nanotherapy, utilizing the EQ-5D tool for assessment. The analysis concludes that Nanotherapy is a more cost-effective and advantageous treatment option compared to Phage Therapy. The report is supported by relevant references, providing a comprehensive understanding of the economic considerations in healthcare decision-making, and is available on Desklib, a platform providing AI-based study tools for students.

Group Assignment
Economic Evaluation of
Healthcare services

INTRODUCTION
Cost effectiveness is the
most essential
determinants of any
healthcare intervention
that guide choices of
public health among many
effective interventions

PURPOSE
Purpose of this discussion:
Compare cost-effectiveness of
Phage Therapy and Nanotech
Therapy to identify one cost-
effective service

Health Economic Evaluation
The performance of
health care services
Measure economic
efficiency
Social services
effectiveness

Significance of Health
Economic Evaluation
Adopting cost-effective
interventions
Best suitable activity can be
assessed
Identifying best suitable
healthcare service.
Improve quality of life of
people
Assessment of any health
technology and health
economics.

Method of Health Economic
Evaluation
Measurement of Cost
Value reflective of cost
cost in different categories
Long-Run and short run Cost
Distinctions
Healthcare Decision and impact

Method of Health Economic
Evaluation
Measurement of Outcome
One or Multidimensional measurement
Characterisation of Intervention Effects
Measurement of Intermediate or Final Output
Integration of Individual Preferences

Types of Health Economic
Evaluation
Cost-Utility Analysis (CUA)
Multidimensional goals
Designed for total health improvement in single
measure
Cost-Benefit Analysis (CBA)
Monetary analysis of benefits
Evaluation of cost-benefit ratio to assess
intervention feasibility

CURRENT STATUS OF CANCER IN AUSRALIA
 Causing almost 50,000 deaths Cancer
is the leading cause of death in
Australia .
 In Australia 145,000 new cases of
cancer have been diagnosed last year
 Australian men and women by the
age of 85, 50% have been diagnosed
with cancer.
 By each year around 17,500
additional number of people die from

In Australia 69% of people
diagnosed with cancer untreated
Melanoma and lung cancer are
most common cancers in Australia
In 2015, 642 people died from
non-melanoma skin cancer in
Australia.
CURRENT STATUS OF CANCER IN AUSRALIA

PHAGETHERAPY
Phagetherapy is carried out
systematically according to an
individual scheme drawn up by the
attending physician. Usually,
Phagetherapy includes a course (or
several courses) of taking certain
combinations of drugs with breaks
between them in order to restore
healthy tissues in the body.

NANO-THERAPY
A new Nanotechnology technique
has been introduced, which is
beneficial in detecting cancer cells
in the body and killing those cells.
Nano surgery changes the DNA of
the cancer cells after detecting
them and stops them from
growing by killing them