Cost savings |
• Lowest cost strategy with equivalent outcomes |
Cost benefit |
• Comparison of two strategies−all inputs are converted to a monetary value |
• Difference >$0 indicates an ineffective strategy |
Cost effectiveness analysis (CEA) |
• Cost for each quality adjusted life year saved or life year saved |
Cost utility |
Cost/quality adjusted life years |
CEA techniques used to compare test modalities |
• CEA = incremental cost of one test or test driven strategyv another divided be the incremental benefit of the same test |
• Relates to the economic resources consumed by the test in relation to the benefits attained by that test |
• Equation |
Incremental CE = (Equation) |
C, cost of test; O, benefits of test.