cost-effectiveness ratio

USAGE SUMMARY

The phrase "cost-effectiveness ratio" is correct and usable in written English.
It is typically used in discussions related to economics, healthcare, and project evaluation to compare the relative costs and outcomes of different options. Example: "The cost-effectiveness ratio of the new treatment was significantly lower than that of the standard therapy, making it a more viable option for patients."

✓ Grammatically correct

Science

Academia

Human-verified examples from authoritative sources

Exact Expressions

59 human-written examples

The choice of discount rate had the biggest effect on the incremental cost-effectiveness ratio.

Plosone

Cost will be divided by effects to calculate the cost-effectiveness ratio (C/E).

BMC Psychiatry

The cost-effectiveness ratio for CBT treatment was not evaluable due to negative clinical effects.

Duke University

Our measure of outcome was the cost-effectiveness ratio (CER).

Surgery

We calculated the incremental cost-effectiveness ratio (ICER) as the difference in costs divided by the difference in QALYs.

Nature

The main outcome was an incremental cost-effectiveness ratio as measured by cost per quality-adjusted life year gained.

Harvard University

QALYs were 2.338 versus 2.316, respectively, resulting in an incremental cost-effectiveness ratio (ICER) of $34,452 per QALY gained.

Stanford University

Incremental cost-effectiveness ratio.

The Journal of Headache and Pain

Incremental cost-effectiveness ratio(s).

Health Economics Review

ICER=Incremental cost-effectiveness ratio.

The Journal of Headache and Pain

Human-verified similar examples from authoritative sources

Similar Expressions

1 human-written examples

A lower value for the incremental cost effectiveness ratio indicates a more cost effective intervention.

British Medical Journal

Expert writing Tips

Best practice

Always consider the perspective (e.g., societal, payer, patient) when interpreting a "cost-effectiveness ratio" as different viewpoints can lead to varying conclusions about the value of an intervention.

Common error

Avoid reporting a "cost-effectiveness ratio" without specifying the alternatives being compared or the context (e.g., healthcare system, population) in which the analysis was conducted. This omission can lead to misinterpretations and limit the applicability of the results.

Linguistic Context

The phrase "cost-effectiveness ratio" functions as a noun phrase, serving as a key metric in economic evaluations. Ludwig confirms its usability and correctness in written English. It quantifies the value obtained for each unit of cost, commonly used in fields like healthcare and policy.

Expression frequency: Very common

Frequent in

Science

67%

Academia

27%

Formal & Business

3%

Less common in

News & Media

1%

Encyclopedias

1%

Wiki

1%

Ludwig's WRAP-UP

The phrase "cost-effectiveness ratio" is a commonly used and grammatically correct term, as confirmed by Ludwig AI. Primarily functioning as a noun phrase, it is used to quantify the economic value of an intervention, typically in the fields of science and academia. The "cost-effectiveness ratio" is calculated by dividing the cost of an intervention by its effectiveness. Alternatives such as "economic evaluation" or "cost-benefit analysis" can be used depending on the context. A key practice is to clearly define the units of cost and effectiveness when reporting this ratio, and avoid reporting the ratio without specifying the context. The frequent use in scientific and academic contexts indicates a formal and technical register.

More alternative expressions

Phrases that express similar concepts, ordered by semantic similarity:

incremental cost per outcome

Specifies the additional cost for each unit of outcome achieved.

economic evaluation

Represents a broader term encompassing various methods for assessing economic value.

cost-outcome relationship

Highlights the association between costs and the resulting outcomes, less formal than a ratio.

cost-benefit analysis

Focuses on comparing total costs to total benefits, not just a ratio.

cost-utility analysis

Specifically incorporates the utility or satisfaction gained from an intervention.

economic efficiency metric

Emphasizes the broader concept of economic efficiency rather than a specific ratio.

efficiency analysis

Broader term that assesses the relationship between inputs and outputs without specifically focusing on costs.

value for money assessment

Highlights the evaluation of whether the cost is justified by the value received.

resource allocation efficiency

Focuses on how efficiently resources are allocated to achieve desired outcomes.

return on investment

Framed in business and financial terms, rather than healthcare or policy.

FAQs

How is the "cost-effectiveness ratio" calculated?

The "cost-effectiveness ratio" is calculated by dividing the cost of an intervention by its effectiveness. For example, if a treatment costs $10,000 and results in 1 additional year of life gained, the cost-effectiveness ratio is $10,000 per year of life gained.

What is considered an acceptable "cost-effectiveness ratio"?

There is no universal threshold, but willingness-to-pay thresholds are often used. In the United States, values of $50,000-$100,000 per quality-adjusted life year (QALY) gained are often considered acceptable. However, this can vary based on the context and perspective.

What are some alternatives to saying "cost-effectiveness ratio"?

You can use alternatives like "economic evaluation", "cost-benefit analysis", or "value for money assessment" depending on the context.

What is the difference between "cost-effectiveness ratio" and incremental "cost-effectiveness ratio"?

The "cost-effectiveness ratio" represents the average cost per unit of outcome, while the incremental "cost-effectiveness ratio" (ICER) represents the additional cost per additional unit of outcome when comparing two interventions. ICER helps in deciding whether the extra benefit is worth the extra cost.