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    Rula Bastoni
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    This document discusses cost-benefit analysis for medical devices. It defines cost-benefit analysis as a method that evaluates the economic and social costs and benefits of an investment or decision. For medical devices, cost-benefit analysis is important because devices can be expensive and healthcare organizations need to ensure resources are used effectively. The key steps in conducting a cost-benefit analysis include defining objectives, identifying and measuring costs and benefits of options, comparing options, evaluating tradeoffs, and making a decision. Costs to consider are purchase, installation, maintenance, and opportunity costs, while benefits include improved outcomes, efficiency, reduced costs, and competitive advantage. Challenges include quantifying some benefits and constraints of time, resources, uncertainty and risk.

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    Lecture8 Introduction to Medical Devices Management

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    This document discusses cost-benefit analysis for medical devices. It defines cost-benefit analysis as a method that evaluates the economic and social costs and benefits of an investment or decision. For medical devices, cost-benefit analysis is important because devices can be expensive and healthcare organizations need to ensure resources are used effectively. The key steps in conducting a cost-benefit analysis include defining objectives, identifying and measuring costs and benefits of options, comparing options, evaluating tradeoffs, and making a decision. Costs to consider are purchase, installation, maintenance, and opportunity costs, while benefits include improved outcomes, efficiency, reduced costs, and competitive advantage. Challenges include quantifying some benefits and constraints of time, resources, uncertainty and risk.

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    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
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    1 views10 pages

    Lecture8 Introduction To Medical Devices Management

    Uploaded by

    Rula Bastoni
    This document discusses cost-benefit analysis for medical devices. It defines cost-benefit analysis as a method that evaluates the economic and social costs and benefits of an investment or decision. For medical devices, cost-benefit analysis is important because devices can be expensive and healthcare organizations need to ensure resources are used effectively. The key steps in conducting a cost-benefit analysis include defining objectives, identifying and measuring costs and benefits of options, comparing options, evaluating tradeoffs, and making a decision. Costs to consider are purchase, installation, maintenance, and opportunity costs, while benefits include improved outcomes, efficiency, reduced costs, and competitive advantage. Challenges include quantifying some benefits and constraints of time, resources, uncertainty and risk.

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    of 10

    MANAGEMENT OF

    MEDICAL DEVICES
    SELECTED TOPICS IN BIOMEDICAL ENGINEERING (BM5922)

    BIOMEDICAL ENGINEERING , SAMS, GJU

    2ND 2022-2023
    COST-BENEFIT ANALYSIS FOR
    MEDICAL DEVICES SUBTITLE:

    Evaluating the Value of Medical Devices for Healthcare Organizations


    INTRODUCTION:

    • THE IMPORTANCE OF EVALUATING THE VALUE OF MEDICAL DEVICES FOR


    HEALTHCARE ORGANIZATIONS
    • Cost-benefit analysis is a method of evaluating the economic
    WHAT IS COST- and social costs and benefits of a particular investment or
    decision
    BENEFIT
    • It involves comparing the costs and benefits of different
    ANALYSIS? options and assessing which one offers the best value for
    money
    WHY IS COST-
    • Medical devices can be expensive, and healthcare
    BENEFIT organizations need to ensure that they are making the best
    ANALYSIS use of their resources
    IMPORTANT FOR • Cost-benefit analysis can help organizations evaluate the
    MEDICAL value of different medical devices and decide which ones
    are worth investing in
    DEVICES?
    KEY STEPS IN 1.Define the problem and identify the objectives

    CONDUCTING A 2.Identify and measure the costs and benefits of different options
    3.Compare the costs and benefits of each option
    COST-BENEFIT
    4.Evaluate the trade-offs between different options
    ANALYSIS: 5.Make a decision based on the results of the analysis
    COSTS TO
    CONSIDER IN A • Purchase cost of the device

    COST-BENEFIT • Installation and training costs

    ANALYSIS FOR • Maintenance and repair costs


    • Opportunity costs (i.e., the value of the resources that could
    MEDICAL be used elsewhere)
    DEVICES:
    BENEFITS TO
    CONSIDER IN A •Improved patient outcomes
    COST-BENEFIT •Increased efficiency and productivity
    ANALYSIS FOR •Reduced healthcare costs
    MEDICAL •Competitive advantage in the market

    DEVICES:
    • Cost-benefit analysis is a useful tool for evaluating the
    value of medical devices for healthcare organizations
    • By considering both the costs and benefits of different
    CONCLUSION: options, organizations can make informed decisions about
    which medical devices to invest in
    • Thank you for attending our lecture on cost-benefit analysis
    for medical devices.
    CHALLENGES OF
    CONDUCTING A • Difficulty in quantifying certain benefits, such as improved
    COST-BENEFIT patient outcomes
    ANALYSIS FOR • Time and resource constraints

    MEDICAL • The potential for uncertainty and risk

    DEVICES:

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