What is your understanding of the cost/quality approach to evaluating or comparing healthcare systems?

What is your understanding of the cost/access/quality approach to evaluating or comparing healthcare systems?
In what ways is this a good model for making comparisons?
In what ways is this a poor model for making comparisons?
Additional dimensions are suggested to augment the basic cost/access/quality model – choice, equity and innovation. What is your opinion of the value or importance of these dimensions?
Can you think of any other dimensions that might be useful in comparing healthcare systems?