Biomaterial Database

Product evaluation: theoretical and practical considerations. 1995

D Elliott, and B Hollins

Products and equipment consume a substantial proportion of hospital or health service budgets. This is particularly the case in areas which use a high volume of consumables and technology, such as critical care. With cost containment strategies widely in force, the issue of using cost effective, quality products is becoming increasingly important. Hence, the evaluation of products should follow an objective and scientific process. This paper initially examines the theoretical basis of the cost/quality model, and compares product evaluation to the problem-solving and quantitative research processes. A flow diagram is then presented along with some practical considerations for achieving optimal quality and cost effectiveness in the evaluation of products.

UI	MeSH Term	Description	Entries
D003362	Cost-Benefit Analysis	A method of comparing the cost of a program with its expected benefits in dollars (or other currency). The benefit-to-cost ratio is a measure of total return expected per unit of money spent. This analysis generally excludes consideration of factors that are not measured ultimately in economic terms. In contrast a cost effectiveness in general compares cost with qualitative outcomes.	Cost and Benefit,Cost-Benefit Data,Benefits and Costs,Cost Benefit,Cost Benefit Analysis,Cost-Utility Analysis,Costs and Benefits,Economic Evaluation,Marginal Analysis,Analyses, Cost Benefit,Analysis, Cost Benefit,Analysis, Cost-Benefit,Analysis, Cost-Utility,Analysis, Marginal,Benefit and Cost,Cost Benefit Analyses,Cost Benefit Data,Cost Utility Analysis,Cost-Benefit Analyses,Cost-Utility Analyses,Data, Cost-Benefit,Economic Evaluations,Evaluation, Economic,Marginal Analyses
D003663	Decision Trees	A graphic device used in decision analysis, series of decision options are represented as branches (hierarchical).	Decision Tree,Tree, Decision,Trees, Decision
D004864	Equipment and Supplies	Expendable and nonexpendable equipment, supplies, apparatus, and instruments that are used in diagnostic, surgical, therapeutic, scientific, and experimental procedures.	Apparatus and Instruments,Devices,Medical Devices,Device, Medical,Devices, Medical,Equipment,Inventories,Medical Device,Supplies,Device,Instruments and Apparatus,Inventory,Supplies and Equipment
D006801	Humans	Members of the species Homo sapiens.	Homo sapiens,Man (Taxonomy),Human,Man, Modern,Modern Man
D013673	Technology Assessment, Biomedical	Evaluation of biomedical technology in relation to cost, efficacy, utilization, etc., and its future impact on social, ethical, and legal systems.	Assessment, Biomedical Technology,Assessment, Technology,Biomedical Technology Assessment,Technology Assessment,Technology Assessment, Health,Assessment, Health Technology,Assessments, Biomedical Technology,Assessments, Health Technology,Assessments, Technology,Biomedical Technology Assessments,Health Technology Assessment,Health Technology Assessments,Technology Assessments,Technology Assessments, Biomedical,Technology Assessments, Health
D017059	Models, Econometric	The application of mathematical formulas and statistical techniques to the testing and quantifying of economic theories and the solution of economic problems.	Econometric Models,Econometric Model,Model, Econometric