The description applied to an intervention for which the costs are justified by the benefits provided. A key focus of health economics in the UK, is the evaluation of individual treatments. In the UK, the National Institute for Health and Clinical Excellence (NICE) evaluates specific new and existing pharmaceuticals and services using economic evaluation.
See also:
Cost–benefit analysis
Cost consequences analysis (CCA)
Cost-effectiveness league table (healthcare economics)
Cost-effectiveness threshold (health economics)
Cost-minimisation analysis (CMA)