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Cost-Effectiveness Analysis and the Value for Money of Health Technologies
Abstract
Cost-effectiveness analysis serves as a tool to assess the value for money of a health technology. This chapter aims to review different approaches to assessing value for money of health technologies. First, the chapter discusses the methodological basis of the incremental cost-effectiveness ratio approach. Second, the chapter reviews alternative approaches such as the replacement approach, program budgeting and marginal analysis, the generalised optimisation framework, and multi-criteria decision analysis. This information will aid health care decision makers and researchers to interpret cost-effectiveness analyses and their results for the purpose of decision making.
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