Cost‐Effectiveness Analyses Throughout the Drug Development Life Cycle

Abstract

Cost-effectiveness analysis (CEA) is a systematic, quantitative method for summarizing health benefits and health resources of various treatment options into single numbers or ratios so that policy makers can choose among them. Computer modeling of cost-effectiveness may play a significant role in informing the pharmaceutical decision-making process throughout a product's life cycle, increasing the likelihood of reimbursement and broad use. Keywords: cost-effectiveness; decision analysis; economics; modeling