Abstract
Decision analytical modelling as a vehicle for cost effectiveness analyses may use various modelling approaches including decision trees and Markov models. Determining when to use a particular modelling approach and choice of model will depend on a number of different factors. For example, decision trees are most useful when health events happen close together and don’t repeat; when health events happen quickly or not at all; and when uncertainty over the effects of treatment is resolved quickly. This chapter guides you through choice of model with focus lying on how to develop a decision tree to assess cost effectiveness.
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As a broader point, it is useful to distinguish between efficacy and effectiveness (although they do exist on a continuum). The efficacy of an intervention is the extent to which an intervention is effective when studied under controlled research conditions. Effectiveness is the extent to which an intervention produces an overall health benefit in routine clinical practice (NICE 2013).
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Edlin, R., McCabe, C., Hulme, C., Hall, P., Wright, J. (2015). Building a Decision Tree Cost Effectiveness Model. In: Cost Effectiveness Modelling for Health Technology Assessment. Adis, Cham. https://doi.org/10.1007/978-3-319-15744-3_3
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DOI: https://doi.org/10.1007/978-3-319-15744-3_3
Publisher Name: Adis, Cham
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