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Cost-Effectiveness in Health and Medicine$
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Peter J. Neumann, Theodore G. Ganiats, Louise B. Russell, Gillian D. Sanders, and Joanna E. Siegel

Print publication date: 2016

Print ISBN-13: 9780190492939

Published to Oxford Scholarship Online: November 2016

DOI: 10.1093/acprof:oso/9780190492939.001.0001

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Estimating Costs and Valuations of Non-Health Benefits in Cost-Effectiveness Analysis

Estimating Costs and Valuations of Non-Health Benefits in Cost-Effectiveness Analysis

(p.201) 8 Estimating Costs and Valuations of Non-Health Benefits in Cost-Effectiveness Analysis
Cost-Effectiveness in Health and Medicine

Anirban Basu

Oxford University Press

This chapter examines the process of identifying, quantifying, and valuing the resource costs and non-pecuniary benefits associated with the use and consequences of healthcare interventions. The Second Panel categorizes the types of resources that most interventions require and describes how they are included in a cost-effectiveness analysis. A key departure from the work of the original Panel is the consideration of cost categories from two Reference Case perspectives, the healthcare sector perspective and the larger societal perspective. The Second Panel also recommends that some components (e.g., current and future medical costs and patients’ out-of-pocket costs) should pertain to both sectors, whereas others (e.g., time costs for patients and caregivers, transportation costs, productivity benefits, consumption costs, and other sector costs) should be counted only for the societal reference case perspective. Valuation of these resources follows the principle of opportunity costs.

Keywords:   Costs, resource use, cost-effectiveness, valuation, opportunity costs, time costs, reference case perspectives

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