Cost Analysis

Question 1

What is conformance cost

Answer 1

Conformance cost include those related to preventing errors, such as monitoring and evaluation

Question 2

What is nonconformance cost

Answer 2

nonconformance cost is cost related to errors, failures, defects. These inculde adverse events such as infections, malpractice etc.

Question 3

What is error free cost

Answer 3

Error free cost are all cost in teems of processes, services, equipment, time, materials etc. All that is necessary to providing a product or process that is w/o error from the onset.

Question 4

What is indirect cost?

Answer 4

Indirect cost are shared cost, such as infrastructure cost and custodial services

Question 5

What is cost benefit analysis?

Answer 5

cost benefit analysis uses average cost of an event and cost of intervention to demonstrate savings

Efficacy studies compare series of cost benefit analysis to determine the intervention w/ best cost benefit; also may be used for process or product evaluation

Question 6

What’s cost effective analysis?

Answer 6

cost effective analysis measure effectiveness of an intervention rather than monetary saving

Question 7

What is efficacy studies?

Answer 7

Efficacy studies compare series of cost benefit analysis to determine the intervention w/ best cost benefit; also may be used for process or product evaluation

Question 8

What is cost utility analysis (CUA)?

Answer 8

Cost utility analysis is a sub type of cost effective analysis but more complex, results are more difficult to quantify, use to justify expenses measuring benefit to society in general ex such as decrease in teen pregnancy