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	~~'''Efficiency''' is a term that describes~~ the ~~extent to which time, effort or cost is well used for the intended task or purpose. It is often used with the specific purpose~~ of ~~relaying~~ the ~~capability of a specific application of effort to produce a specific outcome effectively with a minimum amount or quantity of waste, expense, or unnecessary effort.~~		{{About\|the concept of efficiency in various contexts\|the efficiency in energy usage\|Energy efficiency}}

	~~==Definition==~~		'''Efficiency''' refers to the ability to achieve a desired result or output with minimum waste of time, effort, or resources. It is a key concept in various fields such as [[economics]], [[engineering]], [[business management]], and [[environmental science]]. Efficiency can be quantified as the ratio of useful output to total input, which can be expressed in terms of energy, time, money, or materials.
	Efficiency refers to ~~very different inputs and outputs~~ in ~~different~~ fields and ~~industries~~. Efficiency ~~is a measurable concept, quantitatively determined by~~ the ratio of useful output to total input~~. It minimizes the waste~~ of ~~resources such as physical materials~~, ~~energy and~~ time, ~~while accomplishing the desired output~~.

	==Efficiency ~~in Healthcare~~==		==Types of Efficiency==
	In healthcare, efficiency can be defined as the optimum use of resources in order to achieve the best possible outcomes for patients. This includes the use of financial resources, human resources, and physical resources. Efficiency ~~in healthcare~~ can be ~~measured in~~ several ~~ways, including through~~ the ~~use of [[Healthcare efficiency measures\|efficiency measures]].~~		Efficiency can be categorized into several types depending on the context:

	==Efficiency ~~Measures~~==		===Economic Efficiency===
	~~Efficiency measures are tools that are used~~ to ~~assess~~ the ~~efficiency~~ of ~~healthcare~~ services. ~~These measures~~ can be ~~used~~ to ~~compare~~ the ~~efficiency~~ of ~~different healthcare providers,~~ or ~~to assess~~ the ~~efficiency~~ of ~~a single provider over time~~. ~~Some common efficiency measures include~~ the cost ~~per patient~~, ~~the cost per outcome~~, and ~~the cost per quality-adjusted life year~~.		In [[economics]], efficiency is about optimizing resource allocation to maximize the production of goods and services. Economic efficiency can be further divided into two main types:
			* '''Allocative Efficiency''': This occurs when resources are distributed in a way that maximizes the net benefit to society. It happens when the price of a good or service reflects the marginal cost of production.
			* '''Productive Efficiency''': This is achieved when goods and services are produced at the lowest possible cost. This means that the production uses as few resources as possible, which includes labor, capital, and materials.

	==Efficiency ~~in Energy~~==		===Operational Efficiency===
	In the context of ~~energy~~, efficiency refers to the ~~ratio~~ of ~~useful~~ energy ~~output~~ to the ~~total~~ energy ~~input~~. ~~This~~ can be ~~expressed~~ as ~~a percentage~~. ~~For example~~, ~~if a machine uses~~ 100 ~~units~~ of ~~energy~~ and ~~produces 80 units of useful work~~, ~~it has an~~ efficiency ~~of 80%~~.		In the context of [[business management]], operational efficiency refers to the ability of a company to deliver products or services in the most cost-effective manner without compromising quality. It involves optimizing business processes, improving productivity, and reducing waste.

			===Energy Efficiency===
			[[Energy efficiency]] involves using less energy to perform the same task or produce the same amount of output. This is crucial for reducing energy costs and minimizing environmental impact. Energy-efficient technologies and practices can be applied in various sectors, including transportation, manufacturing, and residential buildings.

			===Environmental Efficiency===
			Environmental efficiency measures the impact of human activities on the environment. It aims to minimize the use of natural resources and the emission of pollutants. High environmental efficiency means achieving the desired level of human activity while exerting minimal pressure on the environment.

			==Measuring Efficiency==
			Efficiency is typically measured by the ratio of outputs to inputs. However, the specific metrics used can vary widely depending on the field and the particular application. Common measures include:
			* '''Energy Efficiency Ratio (EER)''': Used for cooling devices, it is the ratio of the cooling capacity (in British thermal units per hour) to the power input (in watts).
			* '''Fuel Efficiency''': Often used in transportation, it is measured as the distance traveled per unit of fuel consumed (e.g., miles per gallon or liters per 100 kilometers).

			==Importance of Efficiency==
			Efficiency is crucial for both economic growth and environmental sustainability. By maximizing efficiency, resources can be conserved, and waste minimized, leading to more sustainable practices. In business, improving efficiency can lead to cost savings, enhanced competitiveness, and better customer satisfaction.

			==Challenges in Achieving Efficiency==
			Achieving high efficiency often requires upfront investment in technology, training, or process improvements. There can also be trade-offs, such as between economic and environmental efficiency, where actions that are economically beneficial may not always be the best for the environment.

	==See Also==		==See Also==
	* [[Productivity]]		* [[Productivity]]
	* [[~~Performance indicator~~]]		* [[Sustainability]]
	* [[~~Healthcare efficiency measures]]~~		* [[Waste management]]
	* [[Energy efficiency]]

	~~==References==~~
	~~<references />~~

	~~[[Category:Efficiency]]~~
	~~[[Category:Healthcare]]~~
	~~[[Category:Energy~~]]

	~~{{stub}}~~		[[Category:Economics]]
	{{~~dictionary~~-~~stub1~~}}		[[Category:Business terms]]
			[[Category:Environmental science]]
			{{Economics-stub}}

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'''Efficiency''' is a term that describes the extent to which time, effort or cost is well used for the intended task or purpose. It is often used with the specific purpose of relaying the capability of a specific application of effort to produce a specific outcome effectively with a minimum amount or quantity of waste, expense, or unnecessary effort.

==Definition==
Efficiency refers to very different inputs and outputs in different fields and industries. Efficiency is a measurable concept, quantitatively determined by the ratio of useful output to total input. It minimizes the waste of resources such as physical materials, energy and time, while accomplishing the desired output.

==Efficiency in Healthcare==
In healthcare, efficiency can be defined as the optimum use of resources in order to achieve the best possible outcomes for patients. This includes the use of financial resources, human resources, and physical resources. Efficiency in healthcare can be measured in several ways, including through the use of [[Healthcare efficiency measures|efficiency measures]].

==Efficiency Measures==
Efficiency measures are tools that are used to assess the efficiency of healthcare services. These measures can be used to compare the efficiency of different healthcare providers, or to assess the efficiency of a single provider over time. Some common efficiency measures include the cost per patient, the cost per outcome, and the cost per quality-adjusted life year.

==Efficiency in Energy==
In the context of energy, efficiency refers to the ratio of useful energy output to the total energy input. This can be expressed as a percentage. For example, if a machine uses 100 units of energy and produces 80 units of useful work, it has an efficiency of 80%.

==See Also==
* [[Productivity]]
* [[Performance indicator]]
* [[Healthcare efficiency measures]]
* [[Energy efficiency]]

==References==
<references />

[[Category:Efficiency]]
[[Category:Healthcare]]
[[Category:Energy]]

{{stub}}
{{dictionary-stub1}}

Efficiency - Revision history

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