Difference between revisions of "Economic evaluation"
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== Question == | == Question == | ||
Revision as of 20:02, 24 June 2014
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Contents
Question
If a vaccine product is more effective, but also more expensive, when are the additional benefits worth the excess cost?
- The benefits are assessed from the decrease of cases of pnaumococcal deseases following the extensive use of the vaccine. Benefit (effectiveness) is measured in Quality-Adjusted Life Years (QALYs)
- Health care costs are the only costs taken into account.
Answer
To find the most cost-effective product according to the crieria described in the rationale.
Rationale
Products are arranged accordin to effectiveness (V1 < V2 < V3, etc.). With the product's incremental cost-effectiveness ratio (ICER; unit €/QALY) the product's effectiveness is comaperd to the next more effective product. ICER is calculated by dividing the difference between costs with the difference between health effects:
Failed to parse (Missing <code>texvc</code> executable. Please see math/README to configure.): ICER = \frac{(C_2-S_2) - (C_1-S_1)}{E_2-E_1},
where C is the prize of the vaccinating progranm, S is the savings in health care costs and E is the savings on QALY.
The more effective and more expensive product (V2) is chosen, if the decision makers think the additional effectiveness is worth the excess cost, meaning ICER < acceptable marginal cost.
See also
