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Eur J Gastroenterol Hepatol. 2004 Jun;16(6):535-42.

Decision analysis and economic modelling: a primer.

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1
Division of Gastroenterology, Department of Internal Medicine, University of Michigan and VA Center for Practice Management and Outcomes Research, Ann Arbor, Michigan 48105, USA. jinadomi@umich.edu

Abstract

In this primer, the reader is introduced to the concepts governing decision analysis and cost-effectiveness analysis. The construction of decision trees and Markov models is presented to provide the necessary background to critique research articles in published literature. Specific sub-topics related to cost-effectiveness analysis are discussed including quality adjustment and utilities (patient preferences for health states), discounting, and sensitivity analysis including Monte Carlo simulation. Evidence based methods to critique decision and cost-effectiveness analysis are provided, and limitations to these analytic methods are examined. In summary, the major functions of decision analysis and cost-effectiveness analysis are to provide: (1) a quantitative summary of existing data, and (2) hypothesis generation for further research.

PMID:
15167154
[Indexed for MEDLINE]
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