Overview
Cost-effectiveness of health technologies is a vital aspect of health economics that helps determine the best use of limited healthcare resources. By evaluating the costs and health outcomes of various interventions, stakeholders can make informed decisions that maximize health benefits while minimi...
Key Terms
Example: Comparing a new drug to an existing treatment.
Example: One QALY equates to one year in perfect health.
Example: ICER = (Cost of new treatment - Cost of standard treatment) / (QALYs gained from new treatment - QALYs from standard treatment).
Example: Assessing the cost implications of a new vaccine.
Example: Evaluating the effectiveness of a new surgical procedure.
Example: A utility score of 0.8 indicates a health state valued at 80% of perfect health.