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Cost-Effectiveness Analysis in Health
A Practical Approach
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Main description:

The Bestselling Reference, Updated with the Latest Tools, Data, and Techniques


Now in its third edition, the revised and updated Cost–Effectiveness Analysis in Health: A Practical Approach offers a comprehensive resource for evaluating the interventions and programs that are designed to improve health. Step by step, the authors reveal how to conduct practical cost–effectiveness analyses that has worldwide applications. Without relying on abstract theory or complicated models, Cost–Effectiveness Analysis in Health shows how to work with the fundamentals. The authors offer the information needed to develop a research question, find and evaluate data, build a decision model, stress–test the model, interpret the results, and summarize the findings in a report using the most up–to–date techniques and software.


The text′s illustrative exercises provide a guide through the process of obtaining electronic data, analyzing the medical literature, building a decision analysis tree, and conducting a sensitivity analysis.


Cost–Effectiveness Analysis in Health includes:



  • The principles of cost–effectiveness analysis

  • The eight steps to a perfect research project

  • Tools for evaluating the interventions and programs meant to improve health

  • A review of probabilities and decision analysis models

  • A basic introduction to biostatistics and epidemiology

  • Information for preparing your study for publication


The revised edition of Cost–Effectiveness Analysis in Health gives students a basic understanding of and the tools needed to conduct cost–effectiveness analysis.


Back cover:

The Bestselling Reference, Updated with the Latest Tools, Data, and Techniques


Now in its third edition, the revised and updated Cost–Effectiveness Analysis in Health: A Practical Approach offers a comprehensive resource for evaluating the interventions and programs that are designed to improve health. Step by step, the authors reveal how to conduct practical cost–effectiveness analyses that has worldwide applications. Without relying on abstract theory or complicated models, Cost–Effectiveness Analysis in Health shows how to work with the fundamentals. The authors offer the information needed to develop a research question, find and evaluate data, build a decision model, stress–test the model, interpret the results, and summarize the findings in a report using the most up–to–date techniques and software.


The text′s illustrative exercises provide a guide through the process of obtaining electronic data, analyzing the medical literature, building a decision analysis tree, and conducting a sensitivity analysis.


Cost–Effectiveness Analysis in Health includes:



  • The principles of cost–effectiveness analysis

  • The eight steps to a perfect research project

  • Tools for evaluating the interventions and programs meant to improve health

  • A review of probabilities and decision analysis models

  • A basic introduction to biostatistics and epidemiology

  • Information for preparing your study for publication


The revised edition of Cost–Effectiveness Analysis in Health gives students a basic understanding of and the tools needed to conduct cost–effectiveness analysis.


Contents:

List of Tables, Figures, and Exhibits xi


Preface xxi


Acknowledgments xxv


About the Author xxvii


Chapter 1 Introduction to Cost–Effectiveness 1


Learning Objectives 1


Overview 1


Why Cost–Effectiveness Is Useful 2


Elements of Cost–Effectiveness Analysis 4


The Average and Incremental Cost–Effectiveness Ratio 9


Why Conduct Cost–Effectiveness Analysis? 11


The Reference Case Analysis 14


Cost–Effectiveness Analysis and Policy 17


Summary 24


Further Readings 24


References 25


Chapter 2 Principles of Cost–Effectiveness Analysis 29


Learning Objectives 29


Overview 29


The Perspective of a Cost–Effectiveness Analysis 29


Capturing Costs 33


Capturing Quality 35


Interpreting the Cost–Effectiveness Ratio 39


Types of Economic Analysis 43


Summary 48


Further Readings 49


References 49


Chapter 3 Developing a Research Project 53


Learning Objectives 53


Overview 53


Eight Steps to a Perfect Research Project 53


Developing a Research Question 55


Designing Your Analysis 64


Summary 70


Further Readings 70


References 70


Chapter 4 Working with Costs 73


Learning Objectives 73


Overview 73


Opportunity Costs 74


Identifying Costs 77


Micro–Costing and Gross Costing 80


Getting Cost Data 82


Using Diagnosis Codes 84


Adjusting Costs 86


Costs Associated with Pain and Suffering 95


Assessing the Relevancy of Cost Data 97


Other Cost Considerations 98


Summary 102


Further Readings 103


References103


Chapter 5 Probabilities and Decision Analysis Models 105


Learning Objectives 105


Overview 105


The Idea Behind Decision Analysis 105


Probabilities 109


Decision Analysis Models 114


Summary 131


Further Reading 132


References 132


Chapter 6 Calculating Life Expectancy 135


Learning Objectives 135


Overview 135


Hand–Calculating Years Gained 135


Calculating Life–Years Lost Using Markov Models 140


Summary 150


Further Readings 151


References 151


Chapter 7 Working with Health–Related Quality–of–Life Measures 153


Learning Objectives 153


Overview 153


Framework 154


Deriving HRQL Scores 158


Other Considerations and Reminders 168


Using Disability–Adjusted Life–Years 171


Summary 172


Further Readings 173


References 173


Chapter 8 Calculating QALYs 177


Learning Objectives 177


Overview 177


Using the Summation Method 178


Using the Life Table Method 180


More On Discounting 189


Issues with QALYs 191


Calculating Incremental Cost–Effectiveness 192


Disability–Adjusted Life–Year (DALY) 195


Summary 196


Further Readings 196


References 196


Chapter 9 Conducting a Sensitivity Analysis 199


Learning Objectives 199


Overview 199


Performing a Sensitivity Analysis 199


Sensitivity Analysis 201


One–Way Sensitivity Analysis 203


Two–Way Sensitivity Analysis 207


Tornado Diagram 208


Multiway Sensitivity Analysis 210


Summary 222


Further Readings 222


References 223


Chapter 10 Preparing Your Study for Publication 225


Learning Objectives 225


Overview 225


Content and Structure of Cost–Effectiveness Articles 225


Title and Abstract 230


Introduction 231


Methods 233


Results 235


Discussion 238


Other 238


Technical Appendix 239


Figures and Illustrations 240


Summary 240


Further Reading 241


References 241


Chapter 11 Basic Concepts in Epidemiology and Application to Cost–Effectiveness Analysis 243


Learning Objectives 243


Overview 243


Review of Incidence 244


Understanding Error 252


Managing Error in Cost–Effectiveness Analysis 255


Calculating Weighted Means 261


Evaluating Study Limitations 263


Summary 274


Further Readings 275


References 276


Chapter 12 Finding the Data You Need 279


Learning Objectives 279


Overview 279


Finding Data in the Medical Literature 279


Grading Published Data 281


Using Electronic Datasets 282


Data Extraction Tools 290


Using Unpublished Data 293


Using Expert Opinion 294


Organizing Your Data 295


Summary 295


Further Readings 296


References 296


Chapter 13 A Worked Example 299


Learning Objectives 299


Overview 299


Helping Students Learn 299


Laboratory Exercise One: Building a Markov Tree 300


Laboratory Exercise Two: Comparing Interventions 320


Laboratory Exercise Three: The Cost–Effectiveness of Health Insurance 333


Laboratory Exercise Four: Sensitivity Analysis 344


Summary 358


Appendix A Answer Key to Exercises 359


Appendix B Life Expectancy and Quality–Adjusted Life Expectancy Tables 375


Appendix C EQ–5D–5L Health Questionnaire (English Version for the United States) 379


Appendix D Diagnosis, Charges, Medicare Reimbursement, Average Length of Stay, and Cost–to–Charge Ratio by Diagnosis–Related Groups, 2011 383


Glossary 419


Index 431


PRODUCT DETAILS

ISBN-13: 9781119011286
Publisher: John Wiley & Sons
Publication date: March, 2016
Pages: 340

Subcategories: General Practice, Public Health

MEET THE AUTHOR

PETER MUENNIG, MD, MPH, is a professor in the Department of Health Policy and Management at Columbia University.


MARK BOUNTHAVONG, PharmD, MPH is a pharmacoeconomist at the Veterans Affairs San Diego Health Care System and an adjunct faculty member of the Skaggs School of Pharmacy and Pharmaceutical Sciences at the University of California, San Diego.