The economic importance of vaccines lies partly in the burden of disease that can be avoided and partly in the competition for resources between vaccines and other interventions. Decision-makers are increasingly demanding hard economic data as a basis for the allocation of limited healthcare resources.
The main types of evaluation available are cost-benefit analysis (best use of allocated resources), cost-effectiveness analysis (a tool that helps policy-makers decide on the overall allocation of resources), and cost-utility analysis (quality-adjusted life year [QALY] which allows for a direct comparison of a wide range of medical interventions).
The cost per QALY for a range of vaccinations can be compared in order to plan a vaccination program.
Public health vaccines warrant a cost-benefit approach, in order to determine if they are worthwhile, whereas recommended vaccines might be more usefully assessed by cost-effectiveness analysis.
Although cost-savings do not necessarily equate with cost-effectiveness, cost-savings are achieved in many vaccination programs.
PIN21 COST EFFECTIVENESS ANALYSIS OF VACCINATION PROGRAMS WITH 10-VALENT (PCV10) AND 13-VALENT (PCV13) PNEUMOCOCCAL VACCINES IN COLOMBIA
