Economic evaluation: Difference between revisions
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== 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 (V<sub>1</sub> < V<sub>2</sub> < V<sub>3</sub>, 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: | |||
<math>ICER = \frac{(C_2-S_2) - (C_1-S_1)}{E_2-E_1},</math> | <math>ICER = \frac{(C_2-S_2) - (C_1-S_1)}{E_2-E_1},</math> | ||
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 (V<sub>2</sub>) is chosen, if the decision makers think the additional effectiveness is worth the excess cost, meaning ICER < acceptable marginal cost. | |||
== See also == | == See also == | ||
{{pneumococcal vaccine}} | {{pneumococcal vaccine}} | ||
Revision as of 11:40, 21 June 2014
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 (SVG (MathML can be enabled via browser plugin): Invalid response ("Math extension cannot connect to Restbase.") from server "https://wikimedia.org/api/rest_v1/":): {\displaystyle 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