What are the cost-effectiveness criteria used by NICE when evaluating an intervention?
NICE's Social Value Judgements report sets out the principles that committees should consider when judging whether an intervention offers good value. In general, an intervention is considered to be cost effective (given that the estimate is considered plausible) if it either dominates other relevant strategies (i.e. it is both less costly in terms of resource use and more clinically effective compared with all the other relevant alternative strategies), or the intervention costs less than £20,000 per Quality-Adjusted Life Year (QALY) gained compared with the next best strategy.