What are the Challenges in Conducting Cost Benefit Analysis?
Although CBA is a useful tool, it has its challenges:
Data Collection: Gathering accurate and comprehensive data can be time-consuming and expensive. Quantifying Intangibles: Measuring intangible benefits and costs, such as emotional well-being, is complex. Bias: Subjective biases can influence the analysis, leading to skewed results. Dynamic Variables: Healthcare environments are dynamic, and variables can change rapidly, affecting the reliability of the analysis.
