Overview
Cost-effectiveness in health interventions is a vital concept that helps healthcare providers and policymakers make informed decisions about resource allocation. By comparing the costs and health outcomes of various interventions, stakeholders can identify which strategies yield the best value for m...
Key Terms
Example: Using cost-effectiveness analysis to determine the best vaccination strategy.
Example: One QALY equates to one year in perfect health.
Example: An ICER of $50,000 per QALY gained indicates the cost of achieving one additional QALY.
Example: Assessing the budget impact of a new cancer treatment on a healthcare system.
Example: Improvement in patient survival rates after treatment.
Example: A utility score of 0.8 indicates a health state valued at 80% of perfect health.