New Metrics for Economic Evaluation in the Presence of Heterogeneity: Focusing on Evaluating Policy Alternatives Rather than Treatment Alternatives

What is it about?

We proposed new economic evaluation metrics (i.e., modified incremental cost-effectiveness ratios (ICER) from ‘policy’ evaluation perspective by incorporating subgroup-specific adoption rates. We also extended this framework to consider parameter uncertainty to link with existing value of information metrics.

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Why is it important?

This new framework will be useful to estimate the realized value of technologies based on how they will actually be used in practice. Also, the proposed metrics may have a potential to improve the decision-making process by producing metrics that are better aligned with the specific policy decisions rather than just focusing on the evaluation of treatment alternatives