The Importance of Cost-Benefit Analysis

Cost-benefit analysis is going to be essential when you've got a fixed level of resources. The role of NICE in deciding which drugs are made available on the National Health Service has been described as 'the most interesting and lively area in political bioethics' It's assumed that there is a certain drug budget, perhaps 10 billion pounds a year in this country. That will inevitably mean that they won't license for refund on the NHS.