Consider that two drugs are available for the management of diabetic patients. The first, drug, the… Show more Consider that two drugs are available for the management of diabetic patients. The first, drug, the current practice, costs $12,000 over 15 years. The new drug costs $7,500 over 15 years. The outcome measure, quality adjusted life years (QALY) with the current practice is 9.0 over 15 years for diabetic patients and the QALY will improve to 9.8 with the new drug. The incremental cost-effectiveness ratio ($) of the new drug is: • Show less