Most guidelines for economic analysis call for discounting of health benefits. This major methodological point has rapidly moved from debate to common practice. Yet, the powerful effect that discounting can have on an analysis means that it may become the dominant factor in a therapeutic decision. These grave implications should cause pharmacoeconomic analysts to take pause. This workshop will examine the implications of discounting, its rationale and counterpoints, in an effort to establish whether discounting of benefits is justified or not. Topics covered will be: The Basis for Discounting; The Logical Implications of Discounting; Discounting: A new approach. Pharmacoeconomics is a fast evolving field. New thought should continually be put into refining its methodology. Ultimately, the aim of this workshop is to take time to rethink the various issues that surround discounting of health benefits.