Building a return on investment capability in the Justice sector [pdf, 652 KB]
...cost-effectiveness allows us to identify the investment options that make the biggest difference to outcomes, such as reoffending within two years of release, for a given amount of money. PHARMAC uses a cost- effectiveness approach, using the effect on disability-adjusted life-years as the common yardstick with which to compare different pharmaceuticals. 31. As the name suggests, this first stage requires two building blocks: effectiveness, and cost. Effectiveness 32. Effectiveness i...