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Using covariates to reduce uncertainty in the economic evaluation of clinical trial data

Author

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  • F. J. Vázquez‐Polo
  • M. A. Negrín Hernández
  • B. González López‐Valcárcel

Abstract

As part of their practice, policymakers have to make economic evaluations using clinical trial data. Recent interest has been expressed in determining how cost‐effectiveness analysis can be undertaken in a regression framework. In this respect, published research basically provides a general method for prognostic factor adjustment in the presence of imbalance, emphasizing sub‐group analysis. In this paper, we present an alternative method from a Bayesian approach. We propose the use of covariates in Bayesian health technology assessment in order to reduce uncertainty about the effect of treatments. We show its advantages by comparison with another published method that do not adjust for covariates using simulated data. Copyright © 2004 John Wiley & Sons, Ltd.

Suggested Citation

  • F. J. Vázquez‐Polo & M. A. Negrín Hernández & B. González López‐Valcárcel, 2005. "Using covariates to reduce uncertainty in the economic evaluation of clinical trial data," Health Economics, John Wiley & Sons, Ltd., vol. 14(6), pages 545-557, June.
  • Handle: RePEc:wly:hlthec:v:14:y:2005:i:6:p:545-557
    DOI: 10.1002/hec.947
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    References listed on IDEAS

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    Cited by:

    1. Negri­n, Miguel A. & Vázquez-Polo, Francisco-José, 2008. "Incorporating model uncertainty in cost-effectiveness analysis: A Bayesian model averaging approach," Journal of Health Economics, Elsevier, vol. 27(5), pages 1250-1259, September.
    2. Theodoros Mantopoulos & Paul M. Mitchell & Nicky J. Welton & Richard McManus & Lazaros Andronis, 2016. "Choice of statistical model for cost-effectiveness analysis and covariate adjustment: empirical application of prominent models and assessment of their results," The European Journal of Health Economics, Springer;Deutsche Gesellschaft für Gesundheitsökonomie (DGGÖ), vol. 17(8), pages 927-938, November.
    3. Moreno, E. & Girón, F.J. & Martínez, M.L. & Vázquez-Polo, F.J. & Negrín, M.A., 2013. "Optimal treatments in cost-effectiveness analysis in the presence of covariates: Improving patient subgroup definition," European Journal of Operational Research, Elsevier, vol. 226(1), pages 173-182.
    4. Moreno, Elías & Girón, F.J. & Vázquez-Polo, F.J. & Negrín, M.A., 2012. "Optimal healthcare decisions: The importance of the covariates in cost–effectiveness analysis," European Journal of Operational Research, Elsevier, vol. 218(2), pages 512-522.

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