Cost-Value Analysis in Health Care: Making Sense out of by Erik Nord

By Erik Nord

This ebook is a entire and completely updated account of what it skill to aim to quantify wellbeing and fitness in allotting assets for overall healthiness care. It deals a chic new method of evaluating the prices and advantages of clinical interventions. Erik Nord questions Cost-Utility research (CUA) and the feasibility of measuring sufferers' caliber of existence meaningfully in numerical phrases. He provides an alternate method known as cost-value research during which consultant samples of most people exhibit personal tastes between diversified health-care courses. it will be a publication of specific curiosity to clinical ethicists, health-care execs and directors, and economists focusing on health-care economics.

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Extra resources for Cost-Value Analysis in Health Care: Making Sense out of QALYS

Example text

That choice may be seen as a choice in terms of probabilities. But the material choice is really between two courses of action that involve different numbers of persons treated: Considering the consequences in terms of expected benefit for yourself (and others, in a public insurance scheme), do you think the additional resources should be used to include a thousand persons of category A or a hundred of category B? Like the health insurance administrators, insurance scheme members are essentially faced with a person trade-off problem, and it is the person trade-ojf judgments of these members that the administrators ideally should compare with the person trade-offs on the production side (the cost data).

If the situation in our imaginary society were actually as it is in these numerical examples, Cost-Value Analysis in Health Care MRT would exceed MRS (iX:3Y versus iX:2Y). A gain in total value could then be obtained by shifting resources from the production of X to the production of Y. At the margin, reducing the production of X by one unit would allow an increase in the production of Y by 3 units. On the consumption side, an increase of 3 units of Y would more than offset a decrease of 1 unit of X.

So, in moving resources from B to A, the person trade-off on the cost side (PTO-C) exceeds the person trade-off on the value side (PTO-V), and this is precisely what shows up in the costeffectiveness ratios. If the two person trade-offs were equal, the costeffectiveness ratios would also be equal. If PTO-C were lower than PTO-V, then the cost-effectiveness ratio of A would be lower than the cost-effectiveness ratio of B. Person trade-offs on the production side are given by the relative costs of treatment.

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