Lecture 6: Summary measures and distribution Flashcards
What are the main summary measures used in UK appraisal?
Explain what an NPV is?
Explain what a BCR is?
What is the NPV and BCR for the following examples?
What is the limitiation of the BCR?
What is the appropriate summary measure to use between IRR, BCR and NPV?
Explain what the IRR summary measure is
What is a payback period?
Explain cost-effectiveness analysis
Explain ICER analysis
Explain the cost effectiveness plane in healthcare
‘A technology can be considered ‘cost effective’ if its health benefits are greater than the opportunity costs of programmes displaced to fund the new technology.’ NICE Technology Appraisal Guidance
explain value for money assessments and the DfT approach
What are non-monetised costs and benefits. Give an example of the framework
Not all costs and benefits should be monetised
*It may not be possible
*It may not be proportionate
Non-monetised costs and benefits should be highlighted to decision makers and taken into account when deciding on a VfM category.
What are the three business impacts that RPC measure?
What is the business impact target?
What are the 4 steps to calculating the EANDCB?S
What is sensitivity analysis?
What is monte carlo analysis
Why do we need distributional analysis?
What is the equalitities effects and what criteria does it cover
What is distributional weighting and how does it work?
What is place based analysis and what issues does it face?
What is the Small and Micro Business Assessments (SaMBA)?
