Cost-Effectiveness Analysis of Laboratory Tests

 

Laboratories are under intense pressure to increase value. Cost-effectiveness analysis (CEA) can help labs increase value by identifying optimum testing scenarios. This webinar explains important concepts such as cost-perspectives, methods for estimating costs, estimating outcomes, evaluating outcomes, and evaluating uncertainty in model outputs. At the end of this lecture, viewers will understand the different types of frameworks and analyses that are used in cost-effectiveness analysis.

Originally presented on October 21, 2015, in Salt Lake City, Utah.

Lecture Presenter

Robert Schmidt, MD, PhD, MBA

Robert Schmidt, MD, PhD, MBA

Director, Center for Effective Medical Testing
ARUP Laboratories
Assistant Professor of Pathology
University of Utah School of Medicine

Dr. Schmidt is an assistant professor of pathology at the University of Utah School of Medicine. He received his medical degree from the University of Sydney in Sydney and completed his residency training in clinical pathology at the University Of Utah School of Medicine. He received an MS in biochemical engineering at the Massachusetts Institute of Technology, an MBA at the University of Chicago, a PhD in operations management at the University of Virginia, and an MMed in clinical epidemiology from the University of Sydney.

Prior to completing medical school, Dr. Schmidt was an assistant professor of operations management at the Carlson School of Management at the University of Minnesota and an associate professor of clinical operations management at the Marshall School of Business at the University of Southern California. Dr. Schmidt’s medical research focuses on diagnostic testing, specifically utilizing his business background to complement medical knowledge in performing evidence-based evaluation of diagnostic testing. His research includes comparative effectiveness, cost-effectiveness, and utilization analyses of diagnostic tests, as well as operations and technology management related to diagnostic testing.

Objectives

After this presentation, participants will be able to:

  • Review the basic types of analyses that support cost-effectiveness analysis.
  • Describe the opportunities and challenges in applying cost-effectiveness analysis to diagnostic tests.
  • Examples of how lab data is being used to determine if certain lab testing strategies are cost effective.

Sponsored by:

University of Utah School of Medicine, Department of Pathology, and ARUP Laboratories