What is an incremental cost-effectiveness ratio (ICER)?
An incremental cost-effectiveness ratio (ICER) is the incremental cost divided by the incremental effects (usually in per QALY gained). It is used to compare the cost-effectiveness of two strategies, by measuring the mean cost associated with one strategy minus the mean cost of a comparator strategy, and the mean QALYs (or other selected measure of health outcome) associated with one strategy minus the mean QALYs of a comparator strategy. 