Incremental Cost-Effectiveness Ratio Calculator is an interactive, open-access tool that provides information on the comparative cost-effectiveness of multiple strategies. The calculator allows users to enter the cost and benefit outcomes of their strategies and see the associated cost-effectiveness results. The tool also presents the dominated strategies on the cost-effectiveness plane as well as in the detailed iterations of the analyses. The tool can be utilized for both academic research and industry-related purposes.
QALY: Quality-adjusted life year is a generic measure of disease burden, including both the quality and the quantity of life lived. QALY scores range from 1 (perfect health) to 0 (dead).
WTP: Willingness-to-pay (threshold) represents an estimate of what a consumer of health care might be prepared to pay for the health benefit, i.e. one quality-adjusted life year.
ICER: The incremental cost-effectiveness ratio is a statistic used in cost-effectiveness analysis to summarize the cost-effectiveness of a health care intervention defined by the difference in cost between two possible interventions, divided by the difference in their effect.
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