Cost Analysis Research Articles

Unveiling the True Price: Assessing the Economic Impact of Cosmetic Surgery Tourism on a Single Tertiary Center in Bahrain

Abstract Background In light of the escalating cost of cosmetic surgery in Bahrain, the burgeoning “Cosmetic Surgery Tourism” sector has captured the attention of many Bahrainis. Neighboring countries aggressively promote affordable packages on numerous social media platforms, luring individuals with the allure of a vacation experience. However, insufficient postoperative care abroad has far-reaching implications that jeopardize both patient well-being and the integrity of the healthcare system. Objectives This study aims to assess the present patterns of complications related to cosmetic surgery tourism and the resulting financial burden on the Bahraini healthcare system. Methods A retrospective cost analysis and chart review were performed for all patients who presented with complaints associated with cosmetic surgeries between January 2018 and September 2023. After identifying patient demographics, procedure characteristics, admission data, length of stay, and intervention needs, a comprehensive cost analysis was conducted. Results A total of thirty patients manifested complications. Complications associated with abdominoplasty were the most prevalent. Iran emerged as the most frequented destination, with Egypt and Turkey following in order of prevalence. Surgical-site infections constituted the most common complications. Required interventions included admission for intravenous antibiotics, hyperbaric wound care, implant removal, and critical care admission. The projected expense to the hospital was 65,970 BHD (175,000 USD), equating to an average expenditure of 2,200 BHD (5,852 USD) per patient. Conclusions The allure of cost-effective cosmetic treatments often leads to complications that impose substantial economic burdens. The study concludes with policy recommendations to balance individuals’ freedom to seek healthcare abroad with long-term sustainability and equitable access to Bahrain's healthcare system.

Towards a Standardized LCOE Calculation for Informed Decision-Making in Energy Policy and Investment: Application to the Colombian Context

The Levelized cost of electricity - LCOE represents a constant cost per unit of generated electrical energy, resulting from the analysis of the total costs throughout the life cycle of a generation plant. Its widespread use, thanks to its simplicity of calculation and potential of standardization, has made it one of the primary criteria for comparing electricity generation technologies. However, in the pursuit of simplification and generalization, certain aspects associated with the socioeconomic context of the region, as well as accounting and financial concepts, are excluded due to externalities or incentives related to regulatory and fiscal policies. These exclusions affect the accuracy of LCOE and introduce uncertainty when using it as a criterion for investment decision-making or allocation of public resources for the development of renewable sources. This article proposes a clear and standardized methodology for calculating LCOE, which allows for a fair and precise comparison of renewable energy generation options in rural areas. It contributes to informed and transparent decision-making in the fields of energy policy and public investment for expanding electricity service coverage. The proposed methodology is based on the financial cash flow matrix to address variability sources in the calculation, considering the local context of the generation project.

Lifetime design, operation, and cost analysis for the energy system of a retrofitted cargo vessel with fuel cells and batteries

Lifetime design, operation, and cost analysis for the energy system of a retrofitted cargo vessel with fuel cells and batteries

Sustainability assessment of denim fabric made of PET fiber and recycled fiber from postconsumer PET bottles using LCA and LCC approach with the EDAS method.

The textile industry is under pressure to adopt sustainable production methods because its contribution to global warming is expected to rise by 50% by 2030. One solution is to increase the use of recycled raw material. The use of recycled raw material must be considered holistically, including its environmental and economic impacts. This study examined eight scenarios for sustainable denim fabric made from recycled polyethylene terephthalate (PET) fiber, conventional PET fiber, and cotton fiber. The evaluation based on the distance from average solution (EDAS) multicriteria decision-making method was used to rank scenarios according to their environmental and economic impacts, which are assessed using life cycle assessment and life cycle costing. Allocation, a crucial part of evaluating the environmental impact of recycled products, was done using cut-off and waste value. Life cycle assessments reveal that recycled PET fiber has lower freshwater ecotoxicity and fewer eutrophication and acidification impacts. Cotton outperformed PET fibers in human toxicity. Only the cut-off method reduces potential global warming with recycled PET. These findings indicated that recycled raw-material life cycle assessment requires allocation. Life cycle cost analysis revealed that conventional PET is less economically damaging than cotton and recycled PET. The scenarios were ranked by environmental and economic impacts using EDAS. This ranking demonstrated that sustainable denim fabric production must consider both economic and environmental impacts. Integr Environ Assess Manag 2024;20:2347-2365. © 2024 The Author(s). Integrated Environmental Assessment and Management published by Wiley Periodicals LLC on behalf of Society of Environmental Toxicology & Chemistry (SETAC).

Costs and economic impact of student-led clinics-A systematic review.

Student-led clinics generate a range of benefits to multiple stakeholder groups. Students receive important educational opportunities to advance in their training. Patients with limited access to care may access effective care or a higher amount of effective care and so reduce burden on the health care system. The financial viability of student-led clinics run by universities is uncertain, and establishing this is complicated by the range of stakeholder costs and benefits that may be involved. This systematic review aimed to synthesise evidence related to the costs and benefits of student-led clinics and report the methods that have been used to measure these costs and benefits. We conducted a systematic search of MEDLINE All, PsychInfo, CINAHL, A+ Education (Informit), ERIC (ProQuest) and ProQuest Education databases for studies that reported the costs and/or economic benefits of student-led clinics from inception through August 2023. Studies were screened for eligibility, and data were extracted including study characteristics, student-led clinic description and economic outcomes. A narrative synthesis was undertaken due to the heterogeneity of studies. Of 349 potentially eligible studies, 24 were included. Nine studies (38%) used an outcome description-monetised approach; four used partial economic evaluation (17%); four employed cost description (17%); two used cost approximation (8%); two used cost analyses (8%); and one was a full economic analysis (4%). Studies examined costs or benefits, from the perspective of a range of stakeholders, but few examined both. Only six studies (25%) had established the clinical effectiveness of their service. Student clinics generate costs for universities in supplying supervision, capital and consumables. Benefits are shared by patients, students, universities and the broader health system, however, economic evaluations to date have largely ignored or not monetised/valued these benefits. Student-led clinics involve many different stakeholders, each of whom may incur costs and reap benefits. This complicates how we can go about trying to establish the economic efficiency and viability of student-led clinics. Measurement of both costs and benefits is needed to understand the efficiency of student-led clinics in comparison to alternatives. Without the full picture, decision-makers may make decisions that are ill-informed and lead to a loss of benefit for society.

IOT-Enabled Smart Healthcare: Developing Predictive Models for Chronic Disease Management Using Wearable Sensors

Abstract: Real-time monitoring and prediction models will be used to assess the efficiency of the IoT-enabled smart healthcare solutions in managing chronic diseases. From this study, in addition to the quantitative data, including the performance of the model, patient engagement, and cost savings, qualitative information obtained from the patients and healthcare professionals will be employed using a mixed-methods research approach. This collected rich data from surveys, performance measurements, real-time monitoring data, and cost analyses with 50 health professionals and 200 chronic disease patients. The results of the study indicate that predictive models, more particularly the Neural Network, enhanced the ability to identify cases of chronic illness with an accuracy of 92.4%. Extremely high patient satisfaction rates: 9.0 out of 10. Real-time monitoring shows hospital admissions falling by as much as 50% among those suffering with respiratory disease. Cost-benefit analysis also documented financial sustainability, with overall annual cost reduction at 43.3%. Soon after implementation, usage metrics also revealed that the average user uses it three times a day, while patient-provider interactions increased by 150%. This study highlights how IoT technologies would benefit patients' clinical conditions, improve chronic disease management, and save healthcare expenses.

Energy Performance Efficiency and Cost Analysis by BIM-Based Model Simulation for Residential Buildings in Egypt

Energy Performance Efficiency and Cost Analysis by BIM-Based Model Simulation for Residential Buildings in Egypt

Automated-Screening Oriented Electric Sensing of Vitamin B1 Using a Machine Learning Aided Solid-State Nanopore.

Micronutrient detection and identification at the single-molecule level are paramount for both clinical and home diagnostics. Analytical tools such as high-performance liquid chromatography and liquid chromatography-tandem mass spectrometry have been widely used but include a high instrument cost and prolonged analysis time. Here, as a model system, by merging nanopore signatures with machine learning algorithms, we propose an automated electric sensing strategy to identify vitamin B1 and its phosphorylated derivatives with good accuracy. Further, the relationship between vitamin B1 dynamics and nanopore signatures is examined. To understand the machine-decision-making process, Shapley additive explanations are made. Using a machine learning aided solid-state nanopore, we pave the way for next-generation micronutrient detection.

Comparative Study of Biosorption and Traditional Methods for Heavy Metal Removal from Industrial Wastewater in Panipat

In this research paper, I have thoroughy described about the topic Comparative Study of Biosorption and Traditional Methods for Heavy Metal Removal from Industrial Wastewater in Panipat.” Industrial wastewater contamination by toxic heavy metals poses a significant environmental threat globally, especially in rapidly industrializing regions like Panipat District in Haryana, India. Panipat, renowned for its extensive textile and chemical industries, generates substantial volumes of wastewater laden with heavy metals such as lead (Pb), cadmium (Cd), and mercury (Hg). Recent studies have revealed that the concentrations of these metals in Panipat's industrial effluents frequently surpass the permissible limits set by environmental regulations. Traditional methods for heavy metal removal, including chemical precipitation and ion exchange, are widely utilized but often entail high operational costs and the generation of secondary pollutants like sludge. Biosorption, an emerging and sustainable technology, offers a promising alternative by utilizing biological materials such as algae, bacteria, and agricultural waste to adsorb heavy metals from wastewater. This study aims to investigate the effectiveness, cost-effectiveness, and environmental impact of biosorption compared to traditional methods in Panipat District. By examining heavy metal removal efficiencies, conducting cost analysis, and assessing environmental implications, this research seeks to provide valuable insights into sustainable wastewater treatment practices.

An Empirical Study of the Economic Net-Zero Energy Mix in Industrial Complexes

This study examines the optimal energy mix for industrial complexes by incorporating renewable energy systems, decarbonization strategies, and sector coupling technologies. Using data from the Balan Industrial Complex in Korea, five energy scenarios were evaluated, ranging from conventional systems (Scenario 1) to advanced renewable configurations (Scenario 5). The results show that Scenario 5, which integrates sector coupling systems and decarbonization technologies, is the most cost-effective and environmentally sustainable. Scenario 5 achieves the lowest Net Present Cost (NPC), and significantly reduces CO2 emissions. Furthermore, an analysis of electricity prices and CO2 costs from Korea, the United States, and Germany highlights the critical role of regional electricity tariffs and carbon pricing in determining the economic feasibility of energy systems. While renewable setups require higher initial investments, Scenario 5 proves to be the most economically viable over time, offering both cost savings and environmental benefits. These findings provide valuable insights for policymakers and industry leaders, emphasizing the importance of customized strategies to optimize energy systems in industrial applications.

Enhancing the Reliability of Weak-Grid-Tied Residential Communities Using Risk-Based Home Energy Management Systems under Market Price Uncertainty

This paper evaluates the reliability of smart home energy management systems (SHEMSs) in a residential community with an unreliable power grid and power shortages. Unlike the previous works, which mainly focused on cost analysis, this research assesses the reliability of SHEMSs for different backup power sources, including photovoltaic systems (PVs), battery storage systems (BSSs), electric vehicles (EVs), and diesel generators (DGs). The impact of these changes on the daily cost and the balance of energy source contribution in providing electrical energy to household loads, particularly during power outage hours, is also evaluated. To address the uncertainty of electricity market prices, a risk management approach based on conditional value at risk is applied. Additionally, the study highlights the impact of community size on energy costs and reliability. The proposed model is formulated as a mixed-integer nonlinear programming problem and is solved using GAMS. The effectiveness of the proposed risk-based optimization approach is demonstrated through comprehensive cost and reliability analysis. The results reveal that when electric vehicles are used as backup power sources, the energy index of reliability (EIR) is not affected by market price variations and shows significant improvement, reaching approximately 99.9% across all scenarios.

Valorization of Sugarcane Bagasse Ash as an Alternative SCM: Effect of Particle Size, Temperature-Crossover Effect Mitigation & Cost Analysis

The construction industry faces increasing pressure to reduce its environmental impact while meeting the growing demand for infrastructure. One approach to achieving this goal is the use of industrial waste as a replacement for traditional supplementary cementitious materials (SCMs). This study investigates sugarcane bagasse ash (SCBA), addressing the future scarcity and increased cost of other commonly used SCMs. Despite existing literature, the use of SCBA is hindered by several unknowns. This research evaluates SCBA’s performance in mortars, focusing on the effects of curing temperature and particle size variation. Mortar samples were prepared with SCBA replacements from 0% to 30% by mass of cement and cured at 21 °C and 45 °C for 7, 28, and 90 days. The results suggest potential for SCBA replacement up to 30%, emphasizing its sustainability and economic benefits. A cost analysis was also conducted, demonstrating the economic viability of SCBA as an alternative to traditional cement for practical applications.

Expert consensus on pharmacoeconomic evaluations alongside clinical trials (2024 edition)

As a technical tool to guide the optimal allocation of healthcare resources, pharmacoeconomic evaluation has been gradually applied to national healthcare decisions, including the adjustment of the National Reimbursement Drug List in China. With the acceleration of drug market approval and access to insurance coverage, the demand for pharmacoeconomic evaluation in healthcare decision-making is also increasing. Designing a pharmacoeconomic evaluation alongside clinical trials has become an important research direction and the source of evidence. In order to facilitate the standardization of this research field, the current consensus focuses on the topic of how to conduct a pharmacoeconomic evaluation alongside clinical trials from the Chinese healthcare system and decision-making context. The consensus group reconciled expert opinions and developed recommendations covering the entire process of study design, data collection and management, data analysis, and methods and results reporting. A total of 24 recommendations regarding to methodology and practice were developed from eighteen aspects including target population, selection of comparators, calculation of sample size, data collection of healthcare resource utilization, data collection of health-related quality of life, cost analysis, health outcome analysis, addressing the missing and censored data, etc., with the aim to provide reference for scholars and decision makers in this research filed.

Cost analysis of oncological outpatient neurosurgery under general anesthesia with Hospital-at-Home based postoperative care.

This study evaluates the efficiency and cost-effectiveness of an oncological outpatient neurosurgery (OON) protocol using Enhanced Recovery After Surgery (ERAS) principles in a European healthcare setting. Additionally, it assesses the impact of incorporating Hospital at Home (HaH) for perioperative follow-up on program efficiency and costs. We analyzed a case cohort of patients who underwent OON with HaH-based postoperative follow-up for tumor removal or biopsy at a tertiary care center since 2019. A control cohort treated under standard inpatient care was also examined. Costs associated with surgery and postoperative care were meticulously calculated for both groups. The case (n=17) and control (n=38) cohorts had comparable demographics and clinical profiles. Surgical costs, including operating room, anesthesia, and surgeon fees, were similar across groups. However, post-operative monitoring was significantly shorter for the outpatient cohort, leading to reduced observation costs (p<0.001). While the duration of follow-up care was similar, outpatient follow-up via HaH was more cost-effective, reducing overall surgery costs by approximately €2958 per patient (p<0.001) compared to inpatient care. No significant differences were observed in costs related to treatment, radiology, or lab tests between groups. Outpatient neurosurgery with HaH follow-up offers substantial cost savings without compromising care quality in a public health setting. Inpatient care's higher costs are largely due to bed utilization, while the integration of HaH does not add significant costs, making it a viable alternative for postoperative management.

Rapid health technology assessment to inform policy: a case study with respiratory syncytial virus

Abstract Background Respiratory syncytial virus (RSV) can cause severe acute respiratory tract infection in infants and older adults. However, until recently, no immunisation interventions were available to reduce the burden of RSV disease in the general population. New health technologies have now been authorised in Europe for infants (a long-acting monoclonal antibody (nirsevimab) and a maternal vaccine (RSVpreF)), and two vaccines for adults aged ≥60 years (RSVPreF3 and RSVpreF). A rapid health technology assessment (HTA) was requested by the Irish Department of Health to support an interim decision on RSV immunisation. Methods The rapid HTA commenced in January 2024, and comprised description of technology, a summary of international practice, national and international epidemiology and burden of disease, and a costing analysis. The summary of international practice (including underpinning evidence) was undertaken rather than a systematic review of effectiveness and safety due to the rapidly changing evidence base and short timeline within which information was required. Results While new recommendations regarding immunisation against RSV are emerging internationally in response to recently authorised technologies, implementation and funding strategies are not currently widespread. Compared with a full HTA, a rapid HTA enabled an efficient and flexible approach to producing a high quality evidence synthesis to inform a temporary policy decision, taking approximately 6 months to complete rather than 12 months or longer. A full HTA is planned to inform long-term decision-making on this topic, but would not have been feasible to inform an interim decision. Conclusions This rapid HTA will inform a temporary decision on immunisation policy for a single RSV season in Ireland. Conducting a rapid HTA prior to a full HTA has enabled timely decision-making, with implications for Ireland’s national healthcare system and people at risk of severe RSV-related disease. Key messages • Innovations in immunisation against RSV are leading to changes in policy across Europe. • Rapid HTA can support timely, evidence-based public health decision-making in a fast-evolving field.

A Multicenter Physician Survey Evaluating the Use of Ki-67 in Breast Cancer Management in Canada

Background: Ki-67’s response to pre-operative endocrine therapy (ET) in early breast cancer is an evidence-based tool to guide adjuvant treatment decisions. Physicians across Canada were surveyed to explore current practice patterns and perceived barriers to the use of Ki-67 in practice. Methods: Physicians were invited to participate in an anonymous survey and were eligible if they prescribed systemic therapy for breast cancer in Canada. Respondents were asked to describe their usage of Ki-67, perceptions of the evidence surrounding Ki-67 ET response, and interest in future trials using this approach. Results: The survey received 48/163 responses (29.4%). The majority of respondents (97.6%) reported access to Ki-67 testing upon request. Treatment decisions for adjuvant Abemaciclib was the most common reason (97.6%), followed by adjuvant chemotherapy decisions (16.7%). Only 19.0% had used Ki-67’s response to pre-operative ET in practice. Common barriers to this approach that were identified included a lack of awareness from other providers (54.8%), an increased resource requirement (54.8%), and a lack of timely medical oncology consultation (52.4%). The majority of physicians (85.3%) reported that they would participate in future trials using the Ki-67 endocrine response, and that rate of treatment decision change (95.2%) and cost analysis (42.3%) were important endpoints. Conclusions: Despite the widespread availability of Ki-67 testing, few physicians in Canada currently use it to assess endocrine response, predominantly due to logistical and resource constraints. There is a high level of interest in participating in future trials using this strategy, which should focus on disease related outcomes, feasibility, and the financial impact on the public healthcare system.

Economic evaluation of kinetic energy storage systems as key technology of reliable power grids.

In recent years, energy-storage systems have become increasingly important, particularly in the context of increasing efforts to mitigate the impacts of climate change associated with the use of conventional energy sources. Renewable energy sources are an environmentally friendly source of energy, but by their very nature, they are not able to supply the required amount of energy in a uniform distribution. This study evaluated the economic efficiency of short-term electrical energy storage technology based on the principle of high-speed flywheel mechanism using vacuum with the help of an innovative approach based on life cycle cost analysis (LCC). The innovative potential of high-speed flywheel energy storage systems (FESS) can be seen in increasing the reliability of the electricity transmission system with the possibility of providing control power to compensate for residual loads caused by volatile renewable power sources and power sinks. Based on the research conducted, the LCC method was selected in this study as the most appropriate method to evaluate the economic efficiency of a high-speed FESS used to compensate for short-term fluctuations in an upgraded electric transmission system. As a result, the adjusted LCC per MWh values were compared with the average intra-hour margin realisable in the Intra-Day OTE Market, while the margin calculation also considered the efficiency of the inertial storage. Under the modelled technical and economic conditions, it was found that a high-speed FESS project that can compensate for short-term fluctuations in the electricity transmission system can be economically efficient in the Czech Republic.

The Waiting 4 Surgery study: burden of in-hospital care

Abstract Introduction Patients with coronary artery and valvular diseases with surgical indication represent a significant proportion of hospitalizations. The Waiting 4 Surgery study (W4S) aims to better study this group of patients, their burden of hospital care and identify those with event-free admissions. Purpose In this work, we analyze both the economical and hospital-care burden of this group of patients. Methods Retrospective study of consecutive patients admitted between 2019 and 2021 with coronary artery and/or aortic valve diseases waiting for coronary artery bypass graft (CABG), aortic valve replacement (AVR; surgical or percutaneous) or both. Total admission time and the cost associated with the hospitalization were analyzed. For event-free hospitalization, the following events were considered: death, re-infarction, cardiac pulmonary arrest (CPA), stroke, ventricular tachycardia, acute heart failure (AHF), rest chest pain and reintroduction of intravenous (IV) drugs. We performed a secondary cost analysis for patients with event-free hospitalization after the first 5 days of admission. Results Total of 184 patients were included, mean age 67.9 years, 70.1% male, 71.2% submitted to CABG and 20.7% to AVR (6.5% to both). During admission 23.9% of patients reintroduced IV drugs, 20.1% had chest pain, 5.4% had AHF and 2.2% had CPA. No deaths, strokes of re-infarctions were observed. The total time of hospitalization was 3 259 patients/days, representing an occupation rate of 18.6% and a total cost of 1 898 447€ (10 318€/patient and 632 816€/year). Mean admission time was 17.6 days. Total cost for CABG and AVR patients was 1 479 613€ and 594 562€, respectively. Total of 115 patients had an event-free hospitalization (62.5%). The total time of event-free hospitalization was 1 650 patients/days, representing an occupation rate of 9.42% and a total cost of 979 710€ (6 575€/patient and 326 570€/year). Mean event-free admission time was 14.3 days. Total cost for CABG and AVR in event-free patients was 863 155€ and 223 258€, respectively. Conclusion The W4S study demonstrates the impact patients waiting for surgery represent in hospital care: a very high economic and logistic burden. The majority of patients showed an event-free admission, and identifying such patients for early discharge and ambulatory management together with surgical centers should be a priority.

Burden and economic impact of PM2.5 exposure on Acute Myocardial Infarction in Portugal, 2011-2021

Abstract Background Air pollution, specifically particulate matter with a diameter of 2.5 micrometers (PM2.5), is the primary environmental health risk in Europe. Exposure to PM2.5 increases the risk of cardiovascular diseases, including AMI, resulting in high direct costs associated with in-patient treatment. This study aims to estimate the avoidable and attributable disease and economic burden of AMI due to ambient PM2.5 exposure in Portugal between 2011 and 2021. Methods National databases were used to assess the annual number of hospitalisations and deaths due to AMI between 2011 and 2021. The annual mean costs were calculated using a direct cost analysis (bottom-up micro-costing) to assess the direct economic burden of AMI. In turn, these cases and associated costs were multiplied by the respective morbidity and mortality population attributable fraction (PAF) to estimate the number of hospital admissions and deaths, and their associated costs attributable to ambient PM2.5 exposure. For 2019 and 2021, an alternative scenario of exposure was considered (2021 WHO Air Quality Guidelines), and the avoidable morbidity and mortality costs were determined using the potential impact fraction (PIF). Results Between 2011 and 2021, there were 130,447 hospitalisations and 47,968 deaths due to AMI, with 4.79% and 28.90%, respectively, attributable to ambient PM2.5 exposure. This translates to a direct economic burden of morbidity of more than 44 million euros and mortality of almost 195 million euros. If the proposed scenario guidelines were met, 279 cases and 448 deaths would have been avoided in 2019, resulting in a savings of almost 9.7 million euros. In 2021, 93 cases and 355 deaths would have been avoided, with approximately 4 million euros saved. Conclusions Exposure to ambient PM2.5 significantly contributes to AMI cases and deaths in Portugal, imposing a significant economic burden. These findings highlight the urgent need for measures to improve air quality. Key messages • PM2.5 pollution in Portugal drives AMI cases and fatalities, entailing significant economic costs. • Adhering to WHO air quality guidelines promises substantial reductions in AMI incidence and save millions annually in healthcare expenditure.

Evaluation of Managerial Economics Applications Strategy using the SPSS Method

Managerial Economics is an economy branch is, this economic theory and size using methods solve real-world managerial problems. It helps businesses and organizations make informed decisions by using economic analysis. Here are some common applications of managerial economics: Demand Analysis and Forecasting: Businesses use managerial economics to understand consumer behavior and forecast future demand for their products or services. This involves studying factors that affect demand, such as price, income levels, and consumer preferences. Production and Cost Analysis: Managerial economics helps businesses optimize production processes and minimize costs. It involves analyzing production functions, cost structures, and economies of scale to determine the most efficient way to produce goods or services. Pricing Strategies: A product or the right price for the service It is up to a company to decide Crucial to profitability. Managerial economics helps businesses set prices by considering factors like production costs, competition, and consumer willingness to pay. Market Structure Analysis: Understanding the type of market, a company operates in (e.g., perfect competition, monopoly, oligopoly) is essential for making strategic decisions. Managerial economics helps analyses market structures and determine appropriate strategies for each. Risk and Uncertainty Analysis: Businesses often face uncertainty in various aspects, such as demand fluctuations, production costs, and market conditions. Managerial economics provides tools to assess and manage risks, including techniques like decision tree analysis and expected value calculations. Capital Budgeting and Investment Analysis: Managerial economics assists in evaluating investment opportunities and capital projects. It involves methods Payback period analysis of investments. Regulatory and Government Policy Analysis: Managerial economics helps businesses understand and navigate government regulations and policies that affect their operations. This can include areas like taxation, environmental regulations, and trade policies. Strategic Planning: Using economic analysis, businesses can develop long-term strategies for growth and sustainability. This may involve assessing market trends, competitive dynamics, and potential expansion opportunities. Game Theory and Competitive Strategy: Managerial economics incorporates game theory to analyze strategic interactions between competitors. It helps businesses formulate optimal strategies in competitive environments. Resource Allocation: Efficient allocation of resources, including labor, capital, and technology, is crucial for a company's success. Managerial economics provides tools to distribute funds in a manner that optimisesoverall productivity and profitability. Demand Analysis and Forecasting, Production and Cost Analysis, Pricing Strategies, Market Structure Analysis, Risk and Uncertainty Analysis, Capital Budgeting and Investment Analysis and Regulatory and Government Policy Analysis. The Cranach’s Alpha Reliability result. The overall Cranach’s Alpha value for the model is .744 which indicates 74% reliability. From the literature review, the above 50% Cranach’s Alpha value model can be considered for analysis.