Cost-effectiveness analyses expressed in terms of "incremental cost per QALY" seem to work reasonably well, provided that decision-makers know how much they are prepared to pay for a QALY. Drawing particularly on the position and experience of the U.K.'s National Institute for Health & Clinical Excellence (NICE), but with much broader relevance, this seminar will review some of the evidence regarding what are seen as acceptable cost-effectiveness thresholds and the conceptual bases on which they might be determined.
Martin Buxton is Professor of Health Economics and Director of the Health Economics Research Group. He has over 20 years experience in the methods and practice of economic evaluation in health care and has been involved in a large number of studies including: international drug trials, evaluations of national programs for heart and liver transplantation, screening for breast cancer and abdominal aortic aneurysms, evaluation of pilot projects such as the picture archiving and communication system (PACS) at Hammersmith Hospital, assessments of the impact of medical audit and other organizational changes. He has been a member of the Appraisal Committee of the U.K.'s National Institute for Health & Clinical Excellence (NICE) and has advised many major pharmaceutical companies.