The increasingly important role of Real-World Evidence in CE modeling
Warren Stevens & Gemma Shields
The methods used to estimate cost-effectiveness of health technologies are constantly evolving. Early approaches in economic evaluation for health technologies relied primarily on the use of evidence from a randomized controlled trial (RCT), on the basis that an RCT provides the best quality of evidence (Hoch 2002). As CE has grown in importance to decision makers the intrinsic desire to produce the most relevant evidence to answer the question has become more important. One consequence of this has been the acceptance that for certain variables within a CE model, real world data, or real world evidence (RWE) may be more appropriate to answering the CE question than RCT data.
Early economic modelling can be applied to inform internal decision making and help identify needs as part of the evidence Generation plan; in this blog we will be discussing what an early economic model can and can't do as well as practical applications.
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