Search results
Results From The WOW.Com Content Network
Cost-effectiveness analysis (CEA) is a form of economic analysis that compares the relative costs and outcomes (effects) of different courses of action. Cost-effectiveness analysis is distinct from cost–benefit analysis , which assigns a monetary value to the measure of effect. [ 1 ]
Pharmacoeconomics centers on the economic evaluation of pharmaceuticals, and can use cost-minimization analysis, cost-benefit analysis, cost-effectiveness analysis or cost-utility analysis. Quality-adjusted life years have become the dominant outcome of interest in pharmacoeconomic evaluations, and many studies employ a cost-per-QALY analysis.
Cost–benefit analysis (CBA), sometimes also called benefit–cost analysis, is a systematic approach to estimating the strengths and weaknesses of alternatives.It is used to determine options which provide the best approach to achieving benefits while preserving savings in, for example, transactions, activities, and functional business requirements. [1]
Comparative effectiveness research adopts many of the same approaches and methodologies as cost-effectiveness analysis, including the use of incremental cost-effectiveness ratios (ICERs) and quality-adjusted life years (QALYs). An important component of CER is the concept of pragmatic randomised controlled trials. [4]
Prior to WHO-CHOICE, most projects that did cost-effectiveness analysis (CEA) in the real world focused on evaluating a single program or intervention, comparing it against either a fixed price threshold or an existing array of interventions with predetermined cost-effectiveness taken from the literature.
Economic evaluation is the process of systematic identification, measurement and valuation of the inputs and outcomes of two alternative activities, and the subsequent comparative analysis of these. [1] The purpose of economic evaluation is to identify the best course of action, based on the evidence available.
Thus, any health intervention which has an incremental cost of more than £30,000 per additional QALY gained is likely to be rejected and any intervention which has an incremental cost of less than or equal to £30,000 per extra QALY gained is likely to be accepted as cost-effective. This implies a value of a full life of about £2.4 million.
Distributional cost-effectiveness analysis (DCEA) is an extension of cost-effectiveness analysis (CEA) that incorporates concern for both the average levels of outcomes as well as the distribution of outcomes.