Health Economics: QALYs, ICER & Cost-Effectiveness

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Cost-effectiveness vs cost-utility vs cost-benefit vs cost-minimisation analysis. QALY (1 year perfect health = 1). ICER = Δcost/ΔQALY. NICE threshold ~£20,000–£30,000/QALY (verify). Incremental analysis. Opportunity cost. Discounting briefly. Exam tip: NICE uses cost per QALY; below threshold → likely recommended.

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