Significance of Discounting
Discounting, as defined in scientific literature, is a financial method used in pharmacoeconomic studies to adjust future costs or benefits to their present value. This approach is essential for accurately assessing the economic impact of healthcare interventions, allowing for a realistic comparison of costs and benefits over time. By applying discounting, researchers can better understand the value of healthcare investments and make informed decisions regarding resource allocation.
Synonyms: Deduction, Reduction, Rebate, Concession, Reducing, Lowering, Cutting, Slashing, Decreasing
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The concept of Discounting in scientific sources
Discounting, in pharmacoeconomic studies, is a financial approach that adjusts future costs or benefits to their present value, ensuring accurate assessments of economic efficiency and informed decision-making in healthcare resource allocation.
From: Sustainability Journal (MDPI)
(1) It is a core issue that needs to be acknowledged and negotiated when applying the value lens to ecosystem services, holding important moral and ethical implications.[1] (2) Discounting refers to adjusting economic values to their present value in economic analysis, and there is no widely accepted consistent discount rate in MSW management studies.[2] (3) Discounting is a method used in life cycle cost analysis to account for the time value of money, reducing future costs to their present value.[3] (4) Discounting is a practice considered in relation to intergenerational equity, involving the valuation of future costs and benefits compared to present ones, potentially impacting long-term sustainability decisions.[4]