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Cost-effectiveness
Cost-effectiveness In economics, comparison of the relative expenditure (costs) and outcomes (effects) associated with two or more courses of action. Cost-effectiveness is typically expressed as an incremental cost-effectiveness ratio (ICER) the ratio of change in costs : change in effects. In health economics a figure of US$50000 per quality-adjusted life year (QALY ) is often suggested as the upper limit of an acceptable ICER. There is lively discussion amongst Health Economists as to the meaning and usefulness of such a figure.
Last updated: 10-18-2005 05:37:55
10-26-2009 08:16:03
The contents of this article is licensed from www.wikipedia.org under the GNU Free Documentation License. Click here to see the transparent copy and copyright details
The contents of this article is licensed from www.wikipedia.org under the GNU Free Documentation License. Click here to see the transparent copy and copyright details