Article
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Preserved in Portico This version is not peer-reviewed
How Accurate Should a Medical Test be to Meet Cost-Effectiveness
Version 1
: Received: 3 May 2023 / Approved: 5 May 2023 / Online: 5 May 2023 (11:48:27 CEST)
How to cite: Chen, E. How Accurate Should a Medical Test be to Meet Cost-Effectiveness. Preprints 2023, 2023050366. https://doi.org/10.20944/preprints202305.0366.v1 Chen, E. How Accurate Should a Medical Test be to Meet Cost-Effectiveness. Preprints 2023, 2023050366. https://doi.org/10.20944/preprints202305.0366.v1
Abstract
Medical tests' cost-effectiveness analysis reveals a strong correlation between their accuracy and analysis results. Theoretically, we provide two lower bounds that medical tests' accuracy must exceed to be considered cost-effective. Theoretically, we provide two lower bounds that the accuracy of medical tests meeting cost-effectiveness must exceed. First, medical tests' accuracy should surpass the lower bound of matching requirements for each patient to receive the most appropriate intervention based on their test results. Second, the overall lower limit should be exceeded for the medical testing to be cost-effective for the patients as a whole. Furthermore, the conclusions from this model also provide an economic explanation for the under-diagnosis of rare diseases and the challenges faced in implementing precision medicine for minority patients. A numerical simulation example validates the conclusions of this paper.
Keywords
medical tests, accuracy, cost-effectiveness analysis, matching intervention, lower bound
Subject
Public Health and Healthcare, Public Health and Health Services
Copyright: This is an open access article distributed under the Creative Commons Attribution License which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
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