Economic Evaluation

Economic Evaluation - EconomicEvaluation RashmiNair...

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Economic Evaluation Rashmi Nair
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Objectives of Economic  Evaluation Identify, measure, and value the  comparative costs and effects of  alternative health care interventions The 4 common economic evaluations  are: Cost minimization analysis (CMA) Cost effectiveness analysis (CEA) Cost benefit analysis (CBA) Cost utility analysis (CUA)
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Economic Evaluation A full economic evaluation must: Consider both costs and consequences Consider at least two alternative interventions Resources and costs are measured and  valued same in all analysis
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Types of Pharmacoeconomic  Analysis METHODOLOGY COST MEASUREMENT  UNIT OUTCOME  MEASURMENT UNIT CMA Dollars or monetary units Assumed to be  equivalent in comparable  groups CEA Dollars or monetary units Natural units (life years  gained, mm Hg blood  pressure, mMol/L blood  glucose CBA Dollars or monetary units Dollars or monetary units CUA Dollars or monetary units Quality Adjusted life year  (QALY) or other utilities Source: Essentials of Pharmacoeconomics, Karen Rascati
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CMA Simplest to conduct Outcomes are assumed to be equivalent Only costs of the intervention are compared Advantages of CMA is also its  disadvantage Cannot be used when outcomes of  interventions are different Example: brand name drugs compared to  generics
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CEA Measures outcomes in natural units  Example: mmHg,  Cholesterol levels,  Symptom free days (SFD) Years of life saved
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CEA Advantage: Outcomes are easier to quantify when  compared with a CUA or CBA
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This note was uploaded on 09/04/2011 for the course PAS 2201 taught by Professor Dhing during the Spring '07 term at St. Johns Duplicate.

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Economic Evaluation - EconomicEvaluation RashmiNair...

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