Bayesian Methods in Health Economics

Introduction to health economic evaluation 21

ated with the two strategies:

c

1

= v × N

1

= £12 × 4 093 710 = £49 124 520

and

c

2

= v × (N

1

+ N

2

)

= £12 × (4 093 710 + 3 252 140) = £88 150 200.

As for the benefits, we consider the gain deriving from the vaccination

strategies expressed in terms of cost averted for the hospitalisation events

(and thus the higher, the better). Then we can compute:

b

1

= h × ρ

1

× N

1

= £700 × 0.1427 × 4 093 710 = £408 920 692,

for the strategy that makes the vaccine available only to children in primary

school and

b

2

= h × [(ρ

1

× N

1

)+(ρ

2

× N

2

)]

= £700 × (584 172.4 + 178 217.3) = £533 672 790,

for the alternative strategy where both primary