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Abstract Details
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Activity Number:
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177
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Type:
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Contributed
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Date/Time:
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Monday, August 1, 2011 : 10:30 AM to 12:20 PM
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Sponsor:
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Biopharmaceutical Section
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| Abstract - #302195 |
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Title:
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Measurement Error on Cost-Effectiveness Ratio and Net Benefit
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Author(s):
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Ruifeng Xu*+ and Ping-Shou Zhong and John R. Cook
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Companies:
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Merck Research Laboratories and Iowa State University and Merck Research Laboratories
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Address:
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Mail Stop 1C-60, North Wales, PA, 19454,
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Keywords:
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measurement error ;
cost-effectiveness ;
net benefit
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Abstract:
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Measurement error on cost-effectiveness analysis has received increasingly attention in the pharmaceutical industry. In this presentation, we explore the influence of measurement error on the cost-effectiveness ratio and net benefit. We found that the measurement error on the biomarker could induce sufficient large bias in the estimation of cost-effectiveness ratio. A deconvolution method and Simulation Extrapolation method are proposed to correct the bias. The asymptotic normalities of the new estimators are derived. In the second part, a realistic modeling method, multi-cycle patient level simulation model is explored to assess the impact of measurement error on the cost-effectiveness ratio and net benefit. Our results show that the measurement error could underestimate the net benefit and overestimate the cost-effectiveness ratio.
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Authors who are presenting talks have a * after their name.
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