Probabilistic Analysis of Cost-Effectiveness Models: Choosing between Treatment Strategies for Gastroesophageal Reflux Disease

Abstract

When choosing between mutually exclusive treatment options, it is common to construct a cost

Cost–Utility Analysis of Tenofovir Disoproxil Fumarate in the Treatment of Chronic Hepatitis B

“…All model parameters other than unit costs were varied independently over the range of values that they could plausibly take in one‐way sensitivity analyses. We also conducted probabilistic sensitivity analysis [62], in which all model parameters except unit costs were varied over distributions defined by the mean and 95% confidence intervals shown in Tables 2–4 and Appendices 1–2. Costs and relative risks were assumed to follow gamma distributions, while utilities and probabilities were assigned beta distributions, in line with best practice [62,63].…”

A Cost-Effectiveness Analysis of Low Risk Deliveries: A Comparison of Midwives, Family Physicians and Obstetricians

“…Probabilistic sensitivity analyses (Drummond et al 2005), using a Monte Carlo Simulation of 10,000 cases with means and standard deviations for all variables, were conducted for the MWs and FPs versus OBs. Costs were assigned a gamma distribution and probabilities were assigned a beta distribution (Briggs et al 2001). An Incremental Cost Effectiveness Plot Report was used to determine the portion of scenarios cost-effective under $1,000 and $5,000 willingness-to-pay thresholds.…”

Decision modelling of economic evaluation of intervention programme of breast cancer

“…The second indicator is a supplement to the first, providing an answer to the question: ‘What are the odds of being cost‐effective for a new intervention or treatment compared with standard or existing method for different levels of WTP?’ This indicator can help health policy‐makers to make a decision in the face of a series of alternative choices in the light of the economic principle ‘willingness to pay’ and ‘ability to pay’ because a spectrum of the chances of being cost‐effective against different WTPs can be quantified, with an acceptability curve for decisions varying with different ceiling ratios. This method has been applied to the choice of treatment for gastroesophageal reflux disease [15] and a prevention programme for gastric cancer [16].…”