To guide policymakers, we created cost-effectiveness acceptability curves (CEAC
) to determine the probability that the most cost-effective intervention strategy in deterministic analysis would fall below various willingness-topay (WTP) thresholds.
The CEACs indicated that, for a willingness to pay EUR 20,000 for a QALY gained, the probability that Embrace is cost effective was 1 percent.
The CEACs (see Figure 2) indicated that the probability that Embrace is cost effective were <80 percent for a willingness to pay EUR 250 for an additional "day able to age in place."
Using the sample results, we estimated cost-effectiveness acceptability curves (CEACs
) using the expected values and the adjusted standard error of each simulated scenario's costs and QALYs assuming the expected means were normally distributed.
The institute features professional development workshops, plenary sessions and an executive panel discussion designed to enhance the professional skills of CEACS
students by exposing them to leadership techniques early in their college experience.
To illustrate the results of the simulation, cost-effectiveness acceptability curves (CEACs) were calculated (van Hout et al.
In Figure 2 the CEACs show that considerable uncertainty surrounds the decision which format is deemed cost-effective.
The paper uses recommended methods for dealing with statistical uncertainty in CEA by presenting results using cost-effectiveness acceptability curves (CEACs).
CEACs are then derived by reestimating the INB varying 2 between $0 and $200,000 per QALY gained and plotting the probability that each program is cost-effective at each value of [lambda] (Fenwick, O'Brien, and Briggs 2004).