| What
is Sensitivity Analysis?
No matter how well-executed
or comprehensive an economic evaluation, the data on costs and
outcomes will inevitably contain various degrees of uncertainty
and potential bias. Investigators often make best estimates of
unknown variables based on available information from experts
and the literature.
Sensitivity analyses
are performed to test the robustness of study results and conclusions
when these underlying assumptions or estimates are varied. This
process reveals the degree of uncertainty, imprecision, or methodological
controversy in the evaluation.
Examples of questions
addressed in sensitivity analysis include the following:
- What if a discount
rate of 6% was used instead of 2%?
- What if the compliance
rate for influenza vaccination was 10% higher than originally
assumed?
- What if the per
diem hospital cost underestimated the true economic cost of
the health care program by $100?
- What if indirect
and intangible costs were not considered?
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