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Apr 10 2024

Statistics and Data Science Seminar: Cost-effectiveness analysis: A statistical overview, by Thomas Mathew

April 10, 2024

4:00 PM - 4:50 PM

Location

636 SEO

Address

Chicago, IL

Thomas Mathew (University of Maryland at Baltimore County): Cost-effectiveness analysis: A statistical overview

Identifying treatments or interventions that are cost-effective (more effective at a reasonable cost) is clearly important in health policy decision making, especially in the allocation of health care resources. Various measures of cost-effectiveness that are informative, intuitive and simple to explain have been suggested in the literature. Popular and widely used measures include the incremental cost-effectiveness ratio (ICER), defined as the ratio between the difference of average costs and the difference of average effectiveness in two populations receiving two treatments. The ICER is interpreted as the additional cost per unit of effectiveness gained. Yet another measure is the incremental net benefit (INB), which is the difference between the incremental cost and the incremental effectiveness after multiplying the latter with a "willingness-to-pay" amount. In the talk, I will provide a selected review of the statistical criteria and methodologies for cost-effectiveness analysis. In particular, some of the recently introduced probabilistic criteria will be discussed and examples will be given.

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Contact

Kyunghee Han

Date posted

Apr 15, 2024

Date updated

Apr 15, 2024

Speakers