Average Cost-Effectiveness RatioAverage Cost-Effectiveness, ACER
The total cost of an intervention divided by its total health effect, calculated for each option rather than as a comparison.
Cost-Effectiveness Analysis
Terms used to compare the costs and health effects of alternative interventions and judge value for money.
- Topic: Cost-Effectiveness Analysis
- 42 terms
- Editor reviewed
ComparatorControl Intervention, Reference Arm
The alternative intervention, treatment, or strategy against which a new option is evaluated in an economic evaluation.
Cost per QALYCost/QALY, Cost per Quality-Adjusted Life Year
A measure of value for money in cost-utility analysis, calculated as incremental cost divided by the quality-adjusted life years gained relative to a comparator.
Cost-Benefit AnalysisCBA, Benefit-Cost Analysis
Cost-benefit analysis is a full economic evaluation that values the differences in the costs and consequences of healthcare alternatives in monetary terms so that their net social value can be compared.
Cost-Consequence AnalysisCCA, Disaggregated Cost-Outcome Analysis
An evaluation that displays each option’s costs and range of outcomes separately, allowing decision-makers to consider them without a combined summary result.
Cost-Effectiveness Acceptability Curve (CEAC)Cost-Effectiveness Acceptability Curve, CEAC
A graph plotting the probability an intervention is cost-effective against a range of possible values for the cost-effectiveness threshold.
Cost-Effectiveness Acceptability FrontierCEAF, Acceptability Frontier
A curve showing, across willingness-to-pay thresholds, the probability that the option with the highest expected net benefit at each threshold is truly optimal.
Cost-Effectiveness AnalysisCEA, Cost per Outcome Analysis
Cost-effectiveness analysis compares healthcare alternatives by relating differences in their costs to differences in outcomes measured using the same natural unit, such as cases prevented or life-years gained.