Designing and Conducting an Economic Evaluation of a Health Care Intervention
Speaker: Bruce Vogel, PhD, Associate Professor, Department of Health Outcomes and Biomedical Informatics
Part of the CTSI Biostatistics, Epidemiology and Research Design (BERD) Lecture Series
- Wednesday, Feb. 19, 2020
- 11:30am – 1pm
- CTRB 2161 North and South
- Lunch available. Space is limited. Please register using the form below for catering purposes.
This talk will present basic knowledge about designing and conducting an economic evaluation of a health care intervention. In particular, the talk will concentrate on what a PI should keep in mind when considering whether to include an economic analysis alongside the clinical evaluation of an intervention. Topics will include (a) the steps involved in conducting an economic analysis, (b) the key decisions that must be made during the design process, (c) possible data sources for costs and outcomes, and (d) key economic evaluation metrics, including Quality-Adjusted Life Years (QALYs) and the Incremental Cost-Effectiveness Ratio (ICER).
By the end of the talk, attendees should understand and be able to discuss:
- what is involved in framing an economic analysis and choosing the perspective of the analysis,
- why it is important to decide about doing an economic analysis at the outset of the study,
- why economists generally prefer to use QALYs as the key outcome measure in an economic analysis and why traditional clinical efficacy measures are inadequate for economic analyses,
- why many economic analyses do not provide definitive guidance about whether an intervention should be broadly implemented.