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Economic Analysis Results |
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What were the results?
To interpret the economic evaluation, we need to plot a cost-effectiveness axis. Four possible outcomes will occur:
Possible outcomes of cost-effectiveness analysis. Quadrant 1: the new intervention is both more effective and less expensive. It is strongly dominant. No further evaluation is necessary. Quadrant 2: the new intervention is less effective and less costly. This may be cost effective, but would require evaluation of CE ratio and QUALYs. Quadrant 3: the new intervention is both less effective and more costly, consequently no further evaluation is necessary as this is clearly a poor option. Quadrant 4: the new intervention is more effective and more costly. It is weakly dominant. Again mathematics are require in this evaluation – and incremental cost-effectiveness ratio (pounds per life saved) or incremental cost utility ratio (pounds per QALY). |
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Please note: these tutorials are for personal study purposes only. They are not currently peer reviewed, and no responsibility will be taken for mistakes or inaccuracies. Reproduction of information is forbidden. All material is copyrighted by the GasWorks Group. |
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