The difference between outcome evaluation and economic evaluation can be summarized as follows:
Focus: Outcome evaluation focuses on assessing the effects and impacts of a program or intervention on desired outcomes, such as changes in health, knowledge, behavior, or social indicators. It aims to determine whether the program achieved its intended outcomes. Economic evaluation, on the other hand, focuses on assessing the economic efficiency and cost-effectiveness of the program. It aims to determine whether the program provides value for money.
Measurement: Outcome evaluation measures the outcomes or changes resulting from the program, using indicators and measures specific to the program's goals. It assesses the effectiveness and impact of the program. Economic evaluation measures the costs and benefits associated with the program. It quantifies the resources used, the costs incurred, and the economic value of the program's outcomes.
Methods: Outcome evaluation typically employs qualitative and quantitative research methods to collect and analyze data on program outcomes. It may use surveys, interviews, observations, or pre-post comparisons to assess the changes resulting from the program. Economic evaluation utilizes economic methods, such as cost-effectiveness analysis, cost-benefit analysis, or cost-utility analysis, to assess the monetary value of the program's costs and outcomes.
Perspective: In outcome evaluation, the perspective is often focused on the program beneficiaries or the target population, assessing the impact from their point of view. Economic evaluation takes a broader societal or payer perspective, considering the costs and benefits to society as a whole or the financial implications for the payer or funder.
Purpose: Outcome evaluation aims to determine the effectiveness and impact of the program, informing decisions about program continuation, expansion, or modification. It provides evidence of program outcomes to stakeholders and supports evidence-based practice. Economic evaluation aims to assess the economic efficiency and value for money of the program. It helps in resource allocation decisions, comparing the costs and benefits of different interventions or programs to inform budgetary and policy choices.
