What is cost effectiveness
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This document discusses cost effectiveness analysis as a tool used by the NHS to determine which health interventions provide the best value for money given limited resources. It explains that cost effectiveness analysis compares the costs of an intervention to the health benefits gained, measured in quality-adjusted life years (QALYs). The NHS currently considers interventions costing £20,000 or less per QALY gained to be cost effective. The analysis found the Bexsero meningitis vaccine to have a cost per QALY above £20,000, so the JCVI could not initially recommend it for routine use, though some argue the model underestimated disease burden.
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Cost Benefit Analysis in Health Care
Declaration: The materials incorporated in this document have come from variety of sources and compiler bears no responsibilities for any information contained herein. The compiler acknowledges all the sources although references have not been explicitly cited for all the contents in this document.
Cost Effectiveness Analysis in Health Care
Declaration: The materials incorporated in this document have come from variety of sources and compiler bears no responsibilities for any information contained herein. The compiler acknowledges all the sources although references have not been explicitly cited for all the contents in this document.
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- It compares total expected costs and total expected benefits to determine if benefits outweigh costs
- Benefits include increased productivity and savings, while costs include maintenance, research, and labor
- It aims to increase outputs while minimizing inputs for efficient allocation of resources
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Declaration: The materials incorporated in this document have come from variety of sources and compiler bears no responsibilities for any information contained herein. The compiler acknowledges all the sources although references have not been explicitly cited for all the contents in this document.
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In broad terms, health economists study the functioning of health care systems and health- affecting behaviour such as smoking.
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Declaration: The materials incorporated in this document have come from variety of sources and compiler bears no responsibilities for any information contained herein. The compiler acknowledges all the sources although references have not been explicitly cited for all the contents in this document.
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Cost benefit analysis_2
1. The document discusses cost-benefit analysis, which is a process used to weigh expected costs against expected benefits to determine the most profitable course of action for a project.
2. It provides a brief history of cost-benefit analysis, dating back to 1808, and outlines some common types of cost analyses like cost-effectiveness analysis and cost-benefit analysis.
3. The document explains some key aspects of cost-benefit analysis, such as how to account for factors like inflation, discount rates, payback periods, and how to evaluate if a project is beneficial, of no gain/loss, or costly based on the ratio of change in costs to change in benefits.
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Cost effectiveness analysis
This document discusses different types of economic evaluations used to analyze health interventions, including cost-minimization analysis, cost-effectiveness analysis, and cost-utility analysis. It provides examples and steps for conducting cost-effectiveness analysis to compare interventions and allocate resources. The document explains how to calculate cost-effectiveness ratios, incremental cost-effectiveness ratios, and use rules like dominance and extended dominance to identify the most cost-effective interventions within a given budget.
Why we think that current cost effectiveness framework is unfair
The current cost-effectiveness framework for evaluating vaccines is unfair because it disadvantages interventions for children. It heavily discounts future health gains, so the long-term benefits of childhood vaccines become negligible over time. The tool used to measure quality of life is also insensitive to losses in young children. Additionally, the framework does not account for the public's preference for prevention over cure or for interventions targeting severe illnesses over mild ones.
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The document discusses various concepts related to costs in health economics. It defines costs as the value of resources used for the production of good health. There are different types of costs including accounting costs, economic costs, opportunity costs, direct costs, indirect costs, average costs, and marginal costs. Accounting costs focus on past expenditures while economic costs also include opportunity costs. Direct costs are those directly related to an intervention while indirect costs are related to productivity losses. Understanding different types of costs is important for economic evaluation, priority setting, and making efficient management decisions in health care.
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Health economics is a branch of economics concerned with issues related to efficiency, effectiveness, value and behaviour in the production and consumption of health and health care.
In broad terms, health economists study the functioning of health care systems and health- affecting behaviour such as smoking.
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2. It provides a brief history of cost-benefit analysis, dating back to 1808, and outlines some common types of cost analyses like cost-effectiveness analysis and cost-benefit analysis.
3. The document explains some key aspects of cost-benefit analysis, such as how to account for factors like inflation, discount rates, payback periods, and how to evaluate if a project is beneficial, of no gain/loss, or costly based on the ratio of change in costs to change in benefits.
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This document provides an overview of cost-effectiveness analysis (CEA) and how it can be used to compare different interventions that aim to reduce the same outcome, such as diarrhea. CEA measures the cost of an intervention relative to its impact on a single predefined outcome. The document outlines CEA of different interventions to reduce diarrhea incidence and their associated impacts and costs. It then discusses how to conduct a comparative CEA of education programs, including standardizing cost and impact estimates to common units to facilitate comparison.
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Cost-benefit analysis
Cost-benefit analysis is an environmental related analysis which gives u an overlook at changes in cost and the benefit which arises from it.
Cost benefit analysis
This document provides an overview of cost benefit analysis (CBA). It discusses the history and principles of CBA, including key indicators like net present value. Challenges of CBA like inaccurate cost and benefit estimation are outlined. The document also presents a case study of implementing new computer equipment in an organization and calculating the costs, benefits, and payback period. It concludes that performing a thorough CBA is important for evaluating projects and avoiding erroneous conclusions.
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NICE evaluates new drugs and medical technologies in the UK using a cost-effectiveness analysis. It considers factors like health improvements, cost savings, innovation, and reducing inequalities. Health is measured in quality-adjusted life years (QALYs) which considers both length and quality of life. NICE evaluates the total costs of a treatment pathway and compares the difference in costs and QALYs to established treatments to determine the incremental cost-effectiveness ratio (ICER). Technologies with an ICER below £20,000-30,000 per QALY are typically recommended for use in the NHS.
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This document provides an introduction to using cost-effectiveness analysis to inform spending decisions on HIV testing. It discusses how economic evaluation considers both the health outcomes and costs of interventions to determine whether one intervention provides better value for money compared to alternatives. It outlines different types of economic evaluation and how they incorporate costs and outcomes. Health outcomes can be measured generically using QALYs or DALYs, or through disease-specific measures. Economic evaluations are typically conducted through modeling or alongside clinical trials. The results can help decision-makers compare interventions and maximize health given limited budgets.
Value-based Healthcare Systems
Introduces Value-based Healthcare, an important concept for transforming healthcare making it more cost-effective, sustainable, and patient-centered. Strategically, it makes the healthcare providers accountable to the desired patient and health system "valued" outcomes.
https://youtu.be/-oOuJfpRFpY
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Expo is the most significant annual health and social care event in the calendar, uniting more NHS and care leaders, commissioners, clinicians, voluntary sector partners, innovators and media than any other health and care event.
Expo 15 returned to Manchester and was hosted once again by NHS England. Around 5000 people a day from health and care, the voluntary sector, local government, and industry joined together at Manchester Central Convention Centre for two packed days of speakers, workshops, exhibitions and professional development.
This year, Expo was more relevant and engaging than ever before, happening within the first 100 days of the new Government, and almost 12 months after the publication of the NHS Five Year Forward View. It was also a great opportunity to check on and learn from the progress of Greater Manchester as the area prepares to take over a £6 billion devolved health and social care budget, pledging to integrate hospital, community, primary and social care and vastly improve health and well-being.
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The document discusses end-of-life premiums in reimbursement decision making. It summarizes the National Institute for Health and Care Excellence's (NICE) approach to considering additional weight or value for treatments targeting end-of-life patients. The document then presents a model for reimbursement decisions based on cost-effectiveness analysis and incorporating additional value criteria. It discusses pursuing both vertical and horizontal equity in reimbursement and concludes that any value premiums, including for end-of-life treatments, require a careful approach to balance different types of equity.
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An Introduction to Health Economics
This document provides an introduction to health economics. It discusses how health care expenditures have increased dramatically, prompting concerns about scarce resources. Health economic evaluation is presented as a tool to demonstrate the value of health care interventions in terms of both clinical and economic outcomes. The key concepts of health economics evaluation are defined, including comparing costs and outcomes of at least two alternatives from various perspectives. Types of economic analyses - cost analysis, cost-effectiveness analysis, cost-utility analysis - are introduced. The document provides examples of health economic evaluations influencing coverage decisions for treatments in Thailand.
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This document discusses CBRT (Colour Breathing Relaxation Technique), an innovation in mental healthcare that provides structured relaxation support sessions. It summarizes that CBRT (1) is a simple yet effective mindfulness technique that focuses the mind through guided relaxation, (2) provides value for money and a solution for increased mental healthcare needs, and (3) can be delivered by a variety of healthcare staff after training to support patients with conditions like anxiety, depression, and long-term conditions.
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This document discusses economic evaluation and how to critically appraise economic evaluation studies. It begins by outlining the purpose of economic evaluation and different forms of evaluation like cost-minimization analysis, cost-effectiveness analysis, and cost-utility analysis. Guidelines for critical appraisal are presented, including questions about the study question, alternatives compared, effectiveness and costs measured, and handling of costs and consequences. While guidelines aim to improve quality, there is disagreement around issues like perspective, comparators, discount rates, and equity. Overall, economic evaluation can inform decision-making, but critical appraisal of studies requires addressing areas of both agreement and ongoing debate.
CBRT - A Case for NHS Adoption 05.04.13 Supporting individuals with anxiety a...
The document discusses CBRT (Colour Breathing Relaxation Technique), an NHS innovation that provides structured relaxation support sessions. It argues that CBRT provides value for money, helps address growing mental health needs, and can contribute to cost savings through reduced referrals. CBRT training for NHS staff is described as helping strengthen communication skills and team building. Evidence is presented that CBRT could help over 12,000 patients annually in a single Trust and provide a return on investment.
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33 slides POWERPOINT : “CBRT A Case for NHS Adoption - Providing patients with structured relaxation support sessions. CBRT provides the NHS with a Value for Money, practical and unique system for physical
health, mental health and wellbeing.
• CBRT provides a ‘safe care’ and ‘right care’ solution to the ever growing requirement for
increased capacity within integrated care for patients with anxiety, mild to medium
depression and long term conditions. This need was highlighted in the report, “How Mental
Illness Loses Out in the NHS”, produced by a distinguished team of economists,
psychologists, doctors and NHS managers convened by Professor Lord Layard of the LSE
Centre for Economic Performance.
• CBRT can contribute to productive patient care and strengthen staff and patient
communication skills; CBRT is empowering.
• CBRT is a high quality, yet low cost product.
• A relaxation technique and therapeutic intervention - CBRT is a safe product. It is a potential CE Class 1 Medical Device and is made of printed matter.
• CBRT is a motivational, inclusive, non-pharmaceutical, non-invasive, non-denominational
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This timely presentation addresses the changes that are proposed under NICE's new value-based assessment (VBA) approach to assessing health technologies. It reviews NICE's current approach and decisions to date for all technologies and separately for orphan and cancer drugs. VBA's proposed calculations for burden of illness and societal impact use estimates of 'shortfall' are illustrated in the presentation. Also discussed are changes in QALY thresholds.
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- There was a significant reduction in cases of invasive bacterial infections like pneumococcal disease, H. influenzae, and meningococcal disease in 2020 coinciding with COVID-19 containment measures across many countries. Vaccination coverage rates have decreased dramatically in Brazil representing a potential risk of rebound in infectious disease rates. Maintaining disease surveillance is important to inform authorities on current disease burden and carriage rates even though some diseases were reduced during the pandemic.
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This document discusses optimal schedules for controlling pneumococcal infection in countries with high and low carriage. It notes that the African Meningitis Belt has seen sub-optimal pneumococcal conjugate vaccine (PCV) coverage due to geopolitical factors and vulnerable populations. Outbreaks in Ghana pre- and post-PCV introduction show that herd protection may be inadequate. Research is needed to better understand pneumococcal biology and prevention. Improving PCV access and coverage, including schedules with boosters and catch-up campaigns targeting 5-29 year olds, may help prevent outbreaks. Strengthening surveillance systems allows rapid response.
Professor Muhamed-Kheir Taha
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What is cost effectiveness
- 1. What is cost effectiveness? • There are infinite demands on our NHS, but a limited pot of money • Cost effectiveness analysis is a tool to help decide which interventions offer the best value for money and should be made available on the NHS • In theory, interventions that are low cost, but have high benefits in terms of health gains take priority over those with high costs and low health gains Costs • NHS costs of the health intervention minus the NHS costs saved by the intervention • Measured in £ Benefits • Health benefits gained by preventing /treating the health problem • Measured in quality of life years (QALYs) • 1 QALY = 1 year at full health *NHS costs also include personal social services costs
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