What is a cost-effectiveness model?
A cost-effectiveness model (CEM) is an analytic framework used to synthesise information on a range of variables (natural history, clinical efficacy, health related quality of life, resource use and costs) in order to estimate the lifetime costs and benefits associated with two or more interventions. These estimates are then used to generate outcomes such as incremental cost-effectiveness ratios (ICERs), which are in turn used to decide which interventions represent good value for money from the perspective of a particular decision maker.
When do you need a cost-effectiveness model?
CEMs can be used to assess the incremental costs and benefits associated with national health policy decisions. A robust CEM is required for a health technology assessment (HTA) submission in order to gain national reimbursement recommendations in the UK.
How can we help you?
We can help you to:
- Distil all relevant evidence into a coherent conceptual model
- Construct a CEM in an appropriate software package
- Prepare a detailed report to accompany the CEM
- Organise and host advisory panel meetings to clinically validate the CEM
- Organise and host training events on the CEM for internal or external stakeholders
- We can also provide the relevant text for an HTA submission
- Prepare peer-review manuscripts relating the CEM
YHEC can also offer the following economic modelling related services:
- Third party technical validation of a CEM built internally or by another agency
- Localisation of CEMs built by other agencies
- Organising and hosting bespoke training events