Posted by Michael Wonder on 20 Sep 2018
Using evidence from randomised controlled trials in economic models: what information is relevant and is there a minimum amount of sample data required to make decisions?
21 September 2018 - Evidence from randomised controlled trials is used to support regulatory approval and reimbursement decisions.
Stevens discusses how these decisions are typically made and argue that the amount of sample data and regulatory authorities’ concerns over multiplicity are irrelevant when making reimbursement decisions. Decision analytic models are usually necessary to meet the requirements of an economic evaluation. DAMs involve inputs relating to health benefits and resource use that represent unknown true population parameters.
Evidence about parameters may come from a variety of sources, including RCTs, and uncertainty about parameters is represented by their joint posterior distribution. Any impact of multiplicity is mitigated through the prior distribution.
