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Cost-effectiveness on a local level: whether and when to adopt a new technology.
Willem H Woertman1, Gijs Van De Wetering1, Eddy M M Adang1
1Department of Epidemiology, Biostatistics and HTA, Radboud University Nijmegen Medical Centre, Nijmegen, The Netherlands (WHW, GVDW, EMMA).
Summary
This study introduces a new mathematical model for local cost-effectiveness analysis, focusing on optimal adoption timing for new healthcare technologies. It provides decision rules for when and whether to adopt innovations from a hospital perspective.
Area of Science:
- Health economics
- Decision analysis
- Healthcare management
Background:
- Cost-effectiveness analysis (CEA) is a standard tool for healthcare decision-making.
- Traditional CEA often adopts a global perspective, evaluating the switch from old to new technologies.
- A local perspective, such as a hospital's viewpoint, is crucial for adoption decisions.
Purpose of the Study:
- To propose a novel approach to cost-effectiveness analysis from a local perspective.
- To develop a mathematical model that explicitly incorporates time for local CEA.
- To establish decision rules for the optimal timing of adopting new healthcare technologies.
Main Methods:
- Development of a mathematical model for cost-effectiveness analysis.
- Explicit incorporation of time into the model to capture temporal dynamics.
- Derivation of decision rules for adoption and postponement of new technologies.
Main Results:
- A decision rule is derived to determine whether a new technology should be adopted.
- A general rule is established for deciding when to postpone adoption.
- A set of rules is presented for determining the optimal timing of technology adoption.
Conclusions:
- The proposed model offers a framework for local cost-effectiveness analysis.
- The derived decision rules facilitate optimal adoption timing for new healthcare technologies.
- The model supports informed decision-making in hospital resource allocation.
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