November 2012
Intermediate to advanced
244 pages
7h 15m
English
Content preview from Bayesian Methods in Health Economics
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26 Bayesian Methods in Health Economics
where
e
t
, c
t
are the population averages of suitable measures of benefit and
cost, respectively.
These in turn can be used to compute the Incremental Cost-Effectiveness
Ratio (ICER), defined as
ICER =
E[Δ
c
]
E[Δ
e
]
. (1.4)
The ICER represents the cost per incremental unit of effectiveness (e.g. cost
per QALY gained, or cost per death/event averted) and it provides a ratio
summary of the additional cost and outcomes (also called effects) that result
from one option compared to another.
For example, in a CUA the value used in the denominator is a standardised
utility index based on general public preferences that allows for
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