For the combined treatment and secondary prevention of VTE the ERG presented an exploratory base case and an incremental analysis. The Committee noted that the ICER for dabigatran etexilate compared with warfarin was £9,973 per QALY gained in the company's corrected base case, and £35,786 per QALY gained in the ERG's exploratory analysis. The Committee was aware that the ERG had included 16 scenarios in its exploratory base case, and the main factors increasing the ICER were: assuming life‑long secondary prevention for all patients (section 4.9), resulting in an ICER of £15,634 per QALY gained; assuming that warfarin monitoring in the secondary prevention period was less frequent (once every 3 months rather than monthly), resulting in an ICER of £15,208 per QALY gained; and assuming a lower cost of each warfarin monitoring visit (section 4.12), resulting in an ICER of £17,419 per QALY gained. The Committee noted that the scenarios included in the ERG exploratory base case interacted, and it was difficult to determine the ICER if the Committee did not accept all of the assumptions that the ERG had included. In particular, the Committee considered that the ERG's assumptions surrounding frequency and cost of warfarin monitoring visits were more conservative than assumptions accepted as reasonable in previous appraisals (see section 4.12). Combining these assumptions had a cumulative effect, driving the ICER towards £35,000 per QALY gained, but applying them separately resulted in ICERs of less than £20,000 per QALY gained. The Committee concluded that the ICER for dabigatran etexilate compared with warfarin for the treatment and secondary prevention of VTE was uncertain because of the lack of an average NHS warfarin monitoring cost, as well as uncertainty about the proportion of people who would stay on treatment for the rest of their lives. Although the company's base case was likely to be too low, the ERG's exploratory base case for treatment and secondary prevention, including conservative assumptions surrounding warfarin monitoring costs, may have overestimated the ICER. The Committee was prepared to accept that the ICER probably lay somewhere between the 2 estimates. In the comparison with rivaroxaban, the Committee noted that rivaroxaban was extendedly dominated by dabigatran etexilate. The Committee also noted that dabigatran etexilate and rivaroxaban had not been shown to have different efficacy, and their costs were very similar. This resulted in an ICER that was highly sensitive to changes in costs and QALYs. The Committee concluded that, on balance, dabigatran etexilate could be considered a clinically and cost-effective option for the treatment and secondary prevention of VTE.