Cost Effectiveness in Health and Medicine

The field of cost-effectiveness analysis has lacked an entry-level textbook until now. "Designing and Conducting Cost-Effectiveness Analyses in Medicine and Health Care" is a hands-on guide for conducting economic analyses that closely follows the recommendations of the Panel on Cost-Effectiveness in Health and Medicine. Step by step, Dr. Muennig outlines the theory and practice of cost-effectiveness and shows how to develop an original research question, retrieve data, design a decision analysis tree, calculate quality-adjusted life years, and test for error in analysis. The book provides clear and detailed instruction and includes a review of the epidemiological and biostatistical skills students need to conduct cost-effectiveness analyses. While the book is designed for students, it includes advanced topics for policymakers, community health experts, and preventive medicine residents who are interested in the field. The book uses a worked example to walk the reader through the process of designing and conducting an analysis and provides links to all of the major Internet-accessible sources of government data. This book will be a welcome addition to the library of students and seasoned researchers alike.

A unique, in-depth discussion of the uses and conduct of cost-effectiveness analyses (CEAs) as decision-making aids in the health and medical fields, this book is the product of over two years of comprehensive research and deliberation by a multi-disciplinary panel of economists, ethicists, psychometricians, and clinicians appointed by the U.S. Public Health Service. Exploring cost-effectiveness in the context of societal decision making for resource allocation purposes, the authors propose that analysts include a "reference-case" analysis in all CEAs designed to inform resource allocation, and they put forth the most explicit set of guidelines (together with their rationale) ever defined on the conduct of CEAs. Important theoretical and practical issues encountered in measuring costs and effectiveness, evaluating outcomes, discounting, and dealing with uncertainty are examined in separate chapters. Additional chapters on framing and reporting of CEAs elucidate the purpose of the analysis and the effective communication of its findings.