Jove
Visualize
Contact Us
JoVE
x logofacebook logolinkedin logoyoutube logo
ABOUT JoVE
OverviewLeadershipBlogJoVE Help Center
AUTHORS
Publishing ProcessEditorial BoardScope & PoliciesPeer ReviewFAQSubmit
LIBRARIANS
TestimonialsSubscriptionsAccessResourcesLibrary Advisory BoardFAQ
RESEARCH
JoVE JournalMethods CollectionsJoVE Encyclopedia of ExperimentsArchive
EDUCATION
JoVE CoreJoVE BusinessJoVE Science EducationJoVE Lab ManualFaculty Resource CenterFaculty Site
Terms & Conditions of Use
Privacy Policy
Policies

Related Experiment Videos

Stochastic cost-effectiveness analysis: a simultaneous marginal-effect approach.

G Liu1, Z Zhao

  • 1Pharmaceutical Policy and Evaluative Sciences, University of North Carolina, Chapel Hill, NC 27516-7360, USA. ggliu@unc.edu

Value in Health : the Journal of the International Society for Pharmacoeconomics and Outcomes Research
|May 6, 2006
PubMed
Summary
This summary is machine-generated.

Related Concept Videos

You might also read

Related Articles

Articles linked to this work by shared authors, journal, and citation graph.

Sort by
Same author

New antimitotic agents with activity in multi-drug-resistant cell lines and in vivo efficacy in murine tumor models.

Journal of medicinal chemistry·2001
Same author

Discovery of novel p-arylthio cinnamides as antagonists of leukocyte function-associated antigen-1/intercellular adhesion molecule-1 interaction. 4. Structure-activity relationship of substituents on the benzene ring of the cinnamide.

Journal of medicinal chemistry·2001
Same author

Palladium(II)-catalyzed tandem reaction of intramolecular aminopalladation of allenyl N-tosylcarbamates and conjugate addition.

Organic letters·2001
Same author

[Exercise tolerance in relation to ventilatory drive and respiratory muscle function in COPD].

Zhonghua jie he he hu xi za zhi = Zhonghua jiehe he huxi zazhi = Chinese journal of tuberculosis and respiratory diseases·2001
Same author

Cloning and characterization of a metal responsive element-containing fragment from the Wilson disease gene locus by junction trapping.

Chinese medical sciences journal = Chung-kuo i hsueh k'o hsueh tsa chih·2001
Same author

[An epidemiological study on the factors influencing length of hospitalization for inpatients of burns].

Zhonghua liu xing bing xue za zhi = Zhonghua liuxingbingxue zazhi·2001
Same journal

Development and Validation of a Brief Healthcare Insecurity Scale in a Sample of U.S. Adults Living with and without HIV.

Value in health : the journal of the International Society for Pharmacoeconomics and Outcomes Research·2026
Same journal

A Competency Framework for Health Technology Assessment Expertise: Results from a Delphi Study.

Value in health : the journal of the International Society for Pharmacoeconomics and Outcomes Research·2026
Same journal

Physician-led Switching from Reference Biologics to Biosimilars: What is the Effect on selected Health-Related Outcomes and Costs for IBD Patients in Germany?

Value in health : the journal of the International Society for Pharmacoeconomics and Outcomes Research·2026
Same journal

Critical Comments by the European Medicines Agency on Patient-Reported Outcomes in Regulatory Submissions (2020-2023).

Value in health : the journal of the International Society for Pharmacoeconomics and Outcomes Research·2026
Same journal

Development, use and psychometric properties of vision and hearing bolt-ons for EQ-5D-3L and EQ-5D-5L: a systematic review.

Value in health : the journal of the International Society for Pharmacoeconomics and Outcomes Research·2026
Same journal

Developing Best Practice for Analysing Individual Patient Utility Data in Health Technology Assessment: A Modified Delphi Study.

Value in health : the journal of the International Society for Pharmacoeconomics and Outcomes Research·2026
See all related articles

A new simultaneous modeling approach offers superior cost-effectiveness estimation for medical interventions compared to traditional methods. This advanced technique provides more accurate and robust incremental cost-effectiveness ratios, especially with complex patient data.

Area of Science:

  • Health Economics
  • Biostatistics
  • Medical Decision Making

Background:

  • Estimating the cost-effectiveness of medical interventions is crucial for resource allocation.
  • Traditional methods, like the average-effect model, have limitations in handling confounding variables and providing robust estimates.
  • Accurate cost-effectiveness analysis requires methodologies that account for the complex interplay of cost and effectiveness.

Purpose of the Study:

  • To develop and validate a novel cost-effectiveness methodology using a simultaneous modeling framework.
  • To provide consistent point and interval estimates for the incremental cost-effectiveness ratio (ICER).
  • To compare the performance of the proposed simultaneous model against the traditional average-effect model.

Main Methods:

Related Experiment Videos

  • Developed a simultaneous model integrating cost and effectiveness functions for competing medical interventions.
  • Employed a nonlinear least-squares method for estimating the simultaneous model parameters.
  • Conducted simulation analyses using hypothetical data to evaluate model performance against the average-effect model.

    • Main Results:

    • The average-effect approach assumes random distribution of variables and independence of cost and effectiveness, which are often unmet.
    • The simultaneous modeling approach does not require these restrictive assumptions and accounts for the simultaneity of cost and effectiveness.
    • Simulation results demonstrated that the simultaneous modeling approach yields significantly less biased and more efficient ICER predictions.

    Conclusions:

    • The simultaneous modeling approach is demonstrably superior to the average-effect approach for estimating ICERs, particularly when confounding factors are present.
    • This methodology offers significant advantages for evaluative studies, especially those utilizing large-scale, patient-level retrospective data.
    • The simultaneous model provides more reliable and robust cost-effectiveness estimates crucial for informed healthcare decisions.