Work package 5
To perform an economic evaluation of the three interventions tested in PRECIOUS for individual countries and on European level.
Collection of data on health and use of healthcare resources
Creation of models for calculation of health benefits and costs
Analysis of incremental cost/health benefit in the longer run
Description of the tasks
This work package performed an economic evaluation of the treatments that are evaluated in PRECIOUS. The evaluation used a long-term and societal perspective, and included both the direct and indirect, monetary and non-monetary costs and health benefits. Cost were valued in monetary units and health benefit in quality adjusted life years (QALYs).
A Markov model to estimate the monetary costs and the QALYs was used. In this model each patient was assumed to be in a certain state, and for each time period there was a certain probability that the patient goes from one state to another (“transition probability”). The flow of patients was simulated between the different states and this was used to estimate the average QALYs patients will gain. The incremental costs were divided by the incremental QALYs, and the incremental cost/benefit ratio was a key variable in the decision to recommend a treatment.
PRECIOUS: List of Work Packages
WP 1: Trial Management
WP 2: Outcome Adjudication
WP 3: Infections and Antimicrobial Resistance
WP 4: Monitoring
WP 5: Health Economics
WP 6: Safety Monitoring
WP 7: Statistical Analysis
WP 8: Dissemination, Exploitation and Communication
WP 9: Project Management