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Nurse Manager Exam #1: Financial Management

Category - Financial Management

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What is a cost-effective analysis?
  1. A measurement of the cost of a product, service or intervention
  2. Costs spent per outcome achieved
  3. Ratio of total costs to total benefits expressed in both dollars and benefit value
  4. Comparison of interventions to achieve one quality-adjusted life year
Explanation
Answer: B - Costs spent per outcome achieved. A cost-effective analysis is a determination of costs spent per outcome achieved.
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