Questions and Answers
What does PICO stand for in the context of Health Economic Evaluation?
Population, Intervention, Comparator, Outcome
What should the population in a cost-effectiveness evaluation be?
Clearly defined
What is the purpose of the ICER in cost-effectiveness analysis?
To assess the value of a healthcare intervention
The costs in cost-effectiveness evaluation should be measured in a single _____ and be constant over time.
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What are the two main evidence frameworks used to estimate costs and outcomes?
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Which of the following is a step in deciding whether to conduct a new Health Economic Evaluation?
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The decision tree concept helps determine which option is less efficient in terms of costs and health outcomes.
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What is measured in a cost-effectiveness analysis to represent the value of the intervention?
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Study Notes
Health Economic Evaluation Framework
- The PICO framework stands for Population, Intervention, Comparator, Outcome, and Costs, structuring research questions for clearer evaluation.
- Population must be clearly defined to ensure relevancy in the analysis.
- Intervention specifics should detail how the treatment is administered and its associated costs.
- Comparator serves as the alternative treatment, often the current standard of care or placebo.
- Outcome focuses on metrics that best represent the intervention’s value to patients.
- Costs are strictly defined as monetary expenses tied to resource usage, including medications, hospital stays, and salaries.
- Economic assessments should maintain a single currency and reflect prices from a constant time period.
Incremental Cost-Effectiveness Ratio (ICER)
- ICER is a key metric for evaluating healthcare interventions against alternatives.
- ICER formula: difference in costs of options divided by the difference in health outcomes.
- Numerical representation requires both monetary cost and health outcome units.
Economic Evidence and Models
- Prioritize checking existing economic evidence before conducting a new health economic evaluation (HEE).
- Conduct a literature search and utilize existing studies to assess applicability.
- Review clinical evidence to determine if a simpler cost-minimization analysis (CMA) is sufficient or if a full cost-effectiveness analysis (CEA) is needed for improved outcomes.
Decision Tree Analysis
- Decision trees help determine the most cost-efficient path by mapping expected outcomes of various interventions.
- Time flows from left to right, starting with a defined population and problem, branching into alternative intervention pathways.
- All potential outcomes and their resource implications are tracked, leading to a comprehensive understanding of costs vs. health outcomes.
- Probabilities assigned to each event path enable multiplication with costs and outcomes for total estimates.
- Decision trees serve as conceptual tools, even when complex mathematical modeling is necessary.
Economic Evaluation Frameworks
- Two main frameworks used for estimating costs and outcomes:
- Trial-based (within-trial) economic evaluation involves gathering economic data alongside clinical trials.
- Modeled economic evaluation provides estimates based on theoretical models and previously established evidence.
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Description
This quiz covers Week 5 of Health and Society, focusing on the Health Economic Evaluation (HEE) and its decision analytic framework for cost-effectiveness analysis. Participants will learn about the key elements and how to interpret results from healthcare interventions using the PICO framework.
