Introduction: Nearly everyone in our society is concerned about the financial cost of healthcare. The aim to reduce health‐care costs motivates us to seek out therapies that deliver the highest possible value, depending in part on comparable economic evaluations. Cost‐effectiveness analysis is a sort of economic research in which the relative costs and outcomes of two or more competing methodologies are examined.Aim/Objective: To conduct a cost‐effectiveness study of various cancer therapy interventions. To analyze the individual’s demographic details, health parameters, treatment outcomes, and costs.Methods: This is an observational study that was conducted at Guru Gobind Singh Medical College and Hospital, Punjab, India, for the duration of 6 months (December 2022 to May 2023) according to STROBE guidelines.Results: This observational study comprised 360 individuals, with the exception of pregnant women as well as patients who declined to participate. During this investigation, it was discovered that the bulk of patients were admitted to the IPD (In‐Patient Department) 238 (66.1%) at Guru Gobind Singh Medical College and Hospital in Faridkot, Punjab, India. The patients’ mean ages and weights were (M = 42.51, SD = 12.31) years and (M = 58.24, SD = 7.96) kg. Female patients scored higher than male patients (60.3%, 217). A linear regression test was performed to determine the link between the total expense of therapy (dependent variable) and each patient’s per capita income each month (independent variable). The result was significant (p = 0.001). A one‐way analysis of variance was used to compare the total expense of treatment with the type of therapy; the test yielded significant results (p = 0.001).Conclusion: The present research shows the correlation between cost and other dependent variables utilizing various statistical analytic approaches. The cost‐effectiveness of cancer treatment must be evaluated individually, taking into account the patient’s health, choices, and overall prognosis.