Abstract
Given the high and rising healthcare costs affecting many health systems worldwide, there is a clear need for health economic evaluations to inform effective strategies to reduce the economic burden of health care to patients, health systems and society. Cost-effectiveness analysis is a well-established health economic tool to assess the clinical and economic value of new health technologies. Cost-effectiveness analysis compares the costs and health outcomes of two or more competing interventions for a given health condition. Mathematical modeling is an integral part of cost-effectiveness analysis, synthesizing the best available evidence from diverse sources and allowing for sensitivity analyses to test the robustness of model findings to alternative input estimates and model assumptions. Cost-effectiveness analysis has an important role in informing health economic assessments and reimbursement decisions for new medical interventions.
| Original language | English (US) |
|---|---|
| Title of host publication | Translational Urology |
| Subtitle of host publication | Handbook for Designing and Conducting Clinical and Translational Research |
| Publisher | Elsevier |
| Pages | 177-183 |
| Number of pages | 7 |
| ISBN (Electronic) | 9780323901864 |
| ISBN (Print) | 9780323901871 |
| DOIs | |
| State | Published - Jan 1 2024 |
Keywords
- Cost-effectiveness analysis (CEA)
- Cost-utility analysis (CUA)
- Dominance
- Health utility
- Incremental cost-effectiveness ratio (ICER)
- Quality-adjusted life year (QALY)
- Willingness-to-pay (WTP) threshold
ASJC Scopus subject areas
- General Agricultural and Biological Sciences
- General Biochemistry, Genetics and Molecular Biology