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Cost-utility analysis is specifically designed to consider both the quality and quantity of life when evaluating the effectiveness of healthcare interventions. It uses measurements such as quality-adjusted life years (QALYs) to quantify health outcomes, allowing for a comprehensive assessment that incorporates not only how long patients may live as a result of a treatment but also how well they live during that time.

This approach is particularly important in healthcare decision-making because it enables the integration of patients’ preferences and the quality of life into the evaluation of different treatment options. By focusing on both dimensions—quantity (extension of life) and quality (health-related quality of life)—cost-utility analysis provides a more nuanced understanding of the value of healthcare interventions.

In contrast, while cost-effectiveness analysis evaluates the relative costs and outcomes of treatments, it does not necessarily take into account the quality of life in the same explicit way. Cost-benefit analysis translates outcomes into monetary values, which may not reflect the intangible benefits of health improvements. Pharmacoeconomic analysis encompasses a broader range of economic evaluations but does not specifically focus on quality of life in the same structured format as cost-utility analysis. Thus, the focus on both elements makes cost-utility analysis uniquely suited for scenarios where quality of life is paramount