Optimizing a portfolio of health care programs in the presence of uncertainty and constrained resources

Pedram Sendi, Maiwenn J. Al, Amiram Gafni and Stephen Birch

Social Science & Medicine, 2003, vol. 57, issue 11, 2207-2215

Abstract: Much research has been devoted to handling uncertainty in cost-effectiveness analysis. The current literature suggests summarizing uncertainty in cost-effectiveness analysis using acceptability curves or net health benefits. These approaches, however, focus only on uncertainty associated with costs and effects of the programs under consideration. In the real world, most decision-makers have to fund a portfolio of health care programs. Therefore, a more comprehensive approach would include in the analysis the uncertainty of costs and effects of all programs supported by the fixed budget. This paper extends the decision rule described by Birch and Gafni (J. Health Econ. 11(3) (1992) 279) within the context of a portfolio of programs when costs and effects are uncertain and resources constrained.

Keywords: Cost-effectiveness; analysis; Uncertainty; Sensitivity; analysis; Portfolio; Resource; constraints (search for similar items in EconPapers)
Date: 2003
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Citations: View citations in EconPapers (8)

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