Chapter 72. Cost-Effectiveness in Interventional Cardiology
What is the most common method used for cost-effectiveness analysis?
B. Incremental cost-effectiveness ratio
E. Health utility assessment
Incremental cost-effectiveness ratio (ICER) is the most widely used and accepted method to evaluate cost-effectiveness of a particular intervention. Authors have found that ICER has been used in the majority of studies as a fundamental metric evaluating cost-effectiveness of a new therapy. The ICER is defined as the incremental cost of providing a specific intervention or therapy divided by the incremental gain in the health benefit. ICER is usually compared to a standard willingness-to-pay threshold, eg, $50,000/life-year gained.
What quadrant of cost-effectiveness plane is considered most cost effective?
The cost-effectiveness plane (CEP) is a 2-dimensional display of incremental effectiveness versus incremental cost where the x-axis represents incremental cost of a new therapy compared to the conventional therapy and the y-axis represents incremental effectiveness of the new therapy compared to the standard treatment. Thus, points on the plane represent a graphical display of the ICER. The CEP is divided into 4 quadrants. The lower right quadrant is the most cost effective since it introduces more effective newer treatment strategies at a lower cost than the standard treatment option. Such newer therapies are known as “dominant” therapies over standard treatment.
What is the concept used in Markov decision-analytic model?
A. Projection of cost per life-year or quality-adjusted life-year (QALY) gained based on short-term results
B. Projection of 10-year cost per QALY gained based on 2-year results
C. Projection of health utility changes after short-term intervention
D. Projection of long-term survival based on short-term results
The duration of many clinical trials is usually not long enough for an accurate estimation of the long-term course of a clinical disease. This limits the accurate estimation of the changes in life-years and QALYs with a newer therapy and thus incremental gain in life-years or QALYs over standard therapy. Therefore, the cost-effectiveness analysis based on ...