COST-BENEFIT ANALYSIS METHODOLOGY FOR INVESTMENTS IN REFRACTIVE SURGERY

Abstract

The current paper proposes a methodology of cost – benefit analysis for investments in the field of refractive surgery over the Romanian-Serbian cross-border region. While refractive surgery services have the potential of generating financial gains for the investor, they can also generate significant social impact. When the investments are made from public funds, the net social benefits are usually targeted. Although the potential impact of such an investment over the quality of life of the local population is important, a feasibility study is mandatory as a basis for the decision to allocate the necessary funds. Through a previous research, we established a benchmark for the conversion of the net social benefits of refractive surgery into monetary form. Through the current article, we propose a way of integrating the converted net social benefits into a cost – benefit analysis. The proposed methodology can be used in feasibility studies over the Romanian-Serbian cross-border region and can easily be adapted to other regions.

Keywords

• Cost-benefit analysis
• Refractive surgery
• Investment
• Feasibility study