EVPIExpected Value of Perfect Information (operations management)
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The EVPI is derived by calculating, for each value of willingness to pay for a QALY, the mean of the 5,000 Monte Carlo simulations of the difference between the maximum incremental net benefit (INB) of the treatment comparators and the INB of the treatment comparator with the best overall ICUR.
WTP per QALY (Can$) Value of information $20,000 $30,000 $50,000 EVPI (Can$) 5.
The partial EVPIs (EVPPIs) provide the opportunity loss associated with each parameter, estimated using the quadrature method (Coyle and Oakley 2008).
15)($2500) EPUC = $1,575 Therefore, EVPI = EPUC - EMV = $1,575 - $800 = $775
Additionally, we assessed the EVPI, and for which topics further research is most valuable.
The EVPI is the expected value of obtaining perfect knowledge of the "true" values of all parameters.
For the base case analysis, the uncertainty surrounding the decision whether or not to implement shared care resulted in an EVPI of 87 [euro] per person, given a ceiling ratio of 40,000 [euro].