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An Introduction to Cost-Effectiveness Analysis

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Evidence Synthesis in Healthcare

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Abstract

Cost-effectiveness analysis is now widely used to evaluate whether the effect of a healthcare intervention justifies additional expenditure. In this chapter, we outline the principles of cost-effectiveness analysis and compare different types of cost-effectiveness analysis. We discuss interpretation of cost-effectiveness analyses, graphical representations of the results of cost-effectiveness data, the benefits and limitations of cost-effectiveness analysis.

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Abbreviations

CET:

Cost-effectiveness Threshold

HRQoL:

Health-related quality of life

ICER:

Incremental cost-effectiveness ratio

NHS:

National Health Service

NICE:

National Institute of Clinical Excellence

NMB:

Net monetary benefit

QALY:

Quality-adjusted life years

WTP:

Willingness to pay

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Author information

Authors and Affiliations

  1. Department of Surgery and Cancer, Imperial College London, St Mary’s Hospital Campus, London, UK

    Christopher Rao

Authors
  1. Christopher Rao
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  2. Kathie A. Wong
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  3. Thanos Athanasiou
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Corresponding author

Correspondence to Christopher Rao .

Editor information

Editors and Affiliations

  1. St. Mary' Hospital London, Dept. Biosurgery & Surgical Technology, Imperial College London, London, W2 1NY, United Kingdom

    Ara Darzi

  2. St. Mary' Hospital London, Dept. Biosurgery & Surgical Technology, Imperial College London, London, W2 1NY, United Kingdom

    Thanos Athanasiou

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© 2011 Springer London

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Rao, C., Wong, K.A., Athanasiou, T. (2011). An Introduction to Cost-Effectiveness Analysis. In: Darzi, A., Athanasiou, T. (eds) Evidence Synthesis in Healthcare. Springer, London. https://doi.org/10.1007/978-0-85729-206-3_6

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  • DOI: https://doi.org/10.1007/978-0-85729-206-3_6

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  • Publisher Name: Springer, London

  • Print ISBN: 978-0-85729-175-2

  • Online ISBN: 978-0-85729-206-3

  • eBook Packages: MedicineMedicine (R0)

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