Service cost-effectiveness: is it worth it?

An economic analysis must take into consideration the context in which it is conducted, including older people’s needs, assets, and preferences. Analyses also need to consider the many different services and systems (e.g. health and social) involved, ensuring that economic pay-offs or burdens are shared out appropriately. The costs of interventions must be considered alongside intended outcomes, such as better health, improved personal functioning, greater and more meaningful social participation, and enhanced quality of life. Often, better outcomes come with higher costs; sometimes it is worthwhile to choose an option even though it is not going to generate cost savings.