The Committee then considered the results of the cost-effectiveness analysis of rivaroxaban for long-term anticoagulation. It noted the results from the manufacturer's long-term model which incorporated INR monitoring costs of £656 and a disutility of 0.012 applied to warfarin only, resulting in an ICER of £6,000 per QALY gained for rivaroxaban compared with enoxaparin and a vitamin K antagonist. The Committee noted that the equivalent ICER, when a less intensive INR monitoring cost of £413 was assumed, was £15,800 per QALY. The Committee also noted the ERG's exploratory analysis, which provided a range of estimates of the ICERs for ongoing anticoagulation under the scenarios outlined in 3.27. This gave ICERs ranging from £19,400 to £38,800 per QALY gained. The Committee noted that the INR monitoring costs assumed by the manufacturer were higher than are considered to be reasonable and therefore considered the ERG's analysis to be more appropriate. The Committee was satisfied that the differential disutility for warfarin compared with rivaroxaban, although uncertain, was at least 0.012 when long-term or lifelong treatment is needed Assuming an equal discontinuation rate, a differential disutility of more than 0.012 would bring the ICER down to below £19,400 per QALY gained. The Committee also explored the scenario incorporating a discontinuation rate for rivaroxaban of just over half the warfarin discontinuation rate which, if a differential disutility of 0.012 was applied, gave an ICER of £25,100 per QALY gained. However, the Committee was not convinced that the discontinuation rate would be different, and felt that the ICER estimate of £25,100 was too high (see section 4.17). The Committee therefore concluded that £19,400 per QALY gained was a plausible estimate, and that rivaroxaban was a cost-effective treatment option for people who need anticoagulation treatment for longer than 12 months.