3. A study published in BMC Health Services Research in October 2008 considered the cost-effectiveness of assisting general practitioners in management of patients with diabetes by use of a centralized database of clinical data to coordinate care. Based on five years of data a simulation model was used to predict patient outcomes and complications up to the time of death. The per-patient increase in costs due to the program were estimated to be $3,000. Quality-adjusted life years were calculated to be 8.5 years for those in the program and 8.2 years for those not in the program. A year of perfect health is felt to be worth $50,000.

(a) Perform a cost-benefit analysis of the program. What do you conclude? i.e is the program worthwhile or not ? (Hint MB Vs MC)