ESSENTIALS OF ECONOMIC EVALUATION IN HEALTHCARE

Author: Rachel Elliott, BPharm, MRPharmS, PhD, Katherine Payne, BPharm, MRPharmS, MSc, PhD
Affiliation: University of Manchester, UK
Publisher: Pharmaceutical Press
Publication Date: 2005
ISBN 10: 0853695741
ISBN 13: 9780853695745
Edition: 1st

Description:

This book is an introduction to economic evaluation for those with little knowledge of economics or health economics. The text gives an overview of economic issues specific to healthcare, and describes the main types of economic evaluation.

Table of Contents

Front Matter

  • ABOUT
  • Preface
  • About the authors
  • Abbreviations

Overview of health economics

  • Introduction
  • Healthcare economics or health economics?
  • Why the interest in health economics?
  • Scarcity and choice and the NHS
  • Rational decision-making
  • The market for healthcare
  • Efficiency
  • Opportunity cost
  • Allocative efficiency and technical efficiency
  • Achieving efficiency and the role of economic evaluation
  • Efficiency and equity
  • SELF-DIRECTED STUDY EXERCISES
  • References
  • Further reading

Rationing healthcare

  • Introduction
  • Is rationing inevitable?
  • Implicit or explicit rationing?
  • Rationing in the UK
  • Rationing lessons from abroad
  • The ‘fair innings’ argument
  • Conclusion
  • SELF-DIRECTED STUDY EXERCISES
  • References
  • Further reading

The nature and assessment of costs in healthcare

  • Introduction
  • Identifying costs
  • Types of costs
  • What costs need to be included in an economic evaluation?
  • How are costs valued?
  • Costs vs charges
  • When to stop collecting costs
  • Incremental costs and marginal costs
  • Short-term vs long-term costs
  • Discounting
  • Inflation
  • Cost of illness
  • SELF-DIRECTED STUDY EXERCISES
  • References
  • Further reading

Measuring patient outcomes for use in economic evaluations

  • Introduction
  • Effectiveness
  • Quality of life
  • Utility
  • Expressing benefits as monetary values
  • Quality adjusted life years and willingness to pay
  • SELF-DIRECTED STUDY EXERCISE
  • References
  • Further reading

Cost-effectiveness analysis

  • Introduction
  • The components of economic evaluation
  • Outcome measures in cost-effectiveness analysis
  • Incremental economic analysis
  • Ways of using outcome data in incremental economic analysis
  • Using an incremental cost-effectiveness ratio to make a decision
  • Should the incremental cost-effectiveness ratio be large or small?
  • Cost-minimisation analysis
  • Cost-effectiveness planes
  • Sensitivity analysis
  • A final note
  • SELF-DIRECTED STUDY EXERCISES
  • References
  • Further reading
  • Further published examples of cost-effectiveness analysis

Cost–utility analysis

  • Introduction
  • Outcome measures in cost–utility analysis
  • Using cost–utility analysis to allocate resources to different services
  • Using cost–utility analysis to choose between life-saving and life-improving interventions
  • The effect of discounting quality adjusted life years in cost–utility analysis
  • Making decisions using cost–utility analysis
  • SELF-DIRECTED STUDY EXERCISES
  • References
  • Further reading
  • Further published examples of cost–utility analysis

Cost–benefit analysis

  • Introduction
  • Outcome measures in cost–benefit analysis
  • Using cost–benefit analysis to allocate resources to different services
  • Making decisions using cost–benefit analysis
  • SELF-DIRECTED STUDY EXERCISE–examining a CBA in depression
  • References
  • Further reading
  • Further published examples of cost–benefit analysis

Introduction to the use of decision analysis in economic evaluations

  • Introduction
  • What are the sources of uncertainty?
  • Probability: the language of uncertainty
  • Use of decision analysis to design economic evaluations
  • Building an economic evaluation, stage 1
  • Building an economic evaluation, stage 2
  • Building an economic evaluation, stage 3
  • Building an economic evaluation, stage 4
  • Markov modelling
  • SELF-DIRECTED STUDY EXERCISES
  • References
  • Further reading
  • Examples using Markov modelling techniques

Using economic evaluations to inform decision-making in healthcare

  • Introduction
  • How may economic evaluations be used?
  • How have economic evaluations been used?
  • Assessing the quality of economic evaluations
  • Using guidelines to improve the quality of economic evaluations
  • Interpreting economic evaluations
  • SELF-DIRECTED STUDY EXERCISE – Using the UK NHS Economic Evaluation Database
  • References
  • Further reading
  • Sample list of guidelines for the design and conduct of economic evaluations

Statistical handling of data in economic analysis

  • Introduction
  • Statistical analysis of costs
  • Stochastic economic analysis
  • SELF-DIRECTED STUDY EXERCISES
  • References
  • Further reading
  • Examples of economic evaluations that present graphical bootstrapped ICERs
  • Examples of economic evaluations that present cost-effectiveness acceptability curves

Valuing preferences

  • Introduction
  • Stated preference or revealed preference?
  • Discrete choice experiments
  • How do you do a discrete choice experiment?
  • SELF-DIRECTED STUDY EXERCISE
  • References
  • Further reading

Useful resources in health economics and economic evaluation

  • Further key texts in health economics
  • Special interest groups and useful contacts for health economists

Glossary