[Verified Answer]: An economic consultant hired to evaluate…

An economic consultant hired to evaluate the cost-effectiveness of a newly developed digital therapeutic device for treating chronic insomnia provides the following information in a summary statement: The incremental cost-effectiveness ratio (ICER) for the digital therapeutic is $38,450 per quality-adjusted life year (QALY) compared to treatment-as-usual (TAU), with an estimated 95% confidence interval of $15,890-$61,010 per QALY evaluated from a societal perspective. Suppose that society’s maximum willingness-to-pay value, omega, for therapeutic devices (including digital) related to sleep disorders is $40,000 per QALY. Did the consultant provide enough information in the above summary statement to determine if the digital therapeutic is cost-effective? Ex