Cost effectiveness analysis methods and applications pdf
Cost-Effectiveness Analysis Alongside Clinical Trials | SpringerLinkForgot password? Don't have an account? Experiences since the Original Panel. This chapter discusses the potential of cost-effectiveness analysis CEA in health and medicine and the ways in which the technique has been applied. Researchers have investigated the cost-effectiveness of a wide range of interventions in diverse applications. In the United States and abroad, public and private health organizations have funded, conducted, and used CEAs, though the technique has also encountered resistance.
What is Cost Benefit and Cost Effectiveness Analysis?
New healthcare technologies must be funded from a constrained healthcare budget, which is generally set each year for a defined jurisdiction and population of current and future patients. Within this setting of scarcity, the introduction of a new technology will displace health-care technologies currently being used by patients in the health service. It is, therefore, important to identify and value both the benefits and costs of new technologies. Only by doing so, can decision-makers judge whether the use of scarce resources is appropriate. The process of generating information on the relative costs and benefits of a specific technology is called economic evaluation.
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Peter J. Neumann, Theodore G. Ganiats, Louise B. Russell, Gillian D. Sanders, and Joanna E. Siegel
Cardiovascular Health Care Economics pp Cite as. Over the past quarter century, as costs have become an important factor in medical decision making, indices of cost-effectiveness CE have increasingly been used in the evaluation of medical therapies. The traditional approach to cost-effectiveness analysis CEA utilizes decision-analytic models based on estimates of cost and effectiveness outcomes obtained from nonsampled secondary data from the literature, insurance claims databases, and expert opinion and employs sensitivity analysis to examine the variability in results as uncertain model inputs are varied over reasonable ranges. Throughout the past decade, there has been an increasing trend for economic studies to be incorporated into large clinical trials. This has allowed for cost-effectiveness to be evaluated directly, using primary patient-level data on both clinical outcomes and costs. The stochastic, or random, nature of this data, resulting from patient-to-patient sampling variability, allows for uncertainty associated with estimates of cost-effectiveness to be estimated using methods of statistical analysis.
Oxford University Press makes no representation, express or implied, that the drug dosages in this book are correct. Readers must therefore always check the product information and clinical procedures with the most up to date published product information and data sheets provided by the manufacturers and the most recent codes of conduct and safety regulations. The authors and the publishers do not accept responsibility or legal liability for any errors in the text or for the misuse or misapplication of material in this work. Except where otherwise stated, drug dosages and recommendations are for the non-pregnant adult who is not breastfeeding. Cost-effectiveness analyses or CEAs in health describe interventions in terms of their cost per unit of health gain that they provide.