As expenditure on health care has increasingly become an area of public debate and concern, public and private health care decision-makers have called for more rigorous use of cost-benefit and cost-effectiveness analysis to guide spending. Concerns have arisen, however, about the overall quality of such analyses. This book discusses and evaluates best-practice methods of conducting cost-benefit and cost-effectiveness studies of pharmaceuticals and other medical technologies. It encompasses a wide variety of topics, ranging from measuring cost and effectiveness to discounting to the use of dynamic modelling of cost-effectiveness. The book also includes conceptual and practical aspects of cost-effectiveness analysis by researchers who have conducted applied research in these areas. Rarely does the book provide a singular solution to a measurement problem; rather, the reader is directed to choices among alternative approaches and an analysis of the advantages and disadvantages of each.
• Offers unique coverage of such issues as: relative merits of cost-effectiveness analysis versus cost-benefit analysis, discounting, use of observational data versus experimental evidence in cost-effectiveness analysis • Controversial and highly topical subject • Successful when published in paperback
1. Introduction Frank A. Sloan; 2. Evidence of effectiveness: evaluating its quality Allan S. Detsky; 3. Utility assessment for estimating quality-adjusted life years Robert M. Kaplan; 4. Measuring costs David Dranove; 5. From cost-effectiveness ratios to resource allocation: where to draw the line? Milton C. Weinstein; 6. Valuing health care benefits in money terms Mark V. Pauly; 7. Discounting health effects for medical decisions W. Kip Viscusi; 8. Statistical issues in cost-effectiveness analyses John Mullahy and Willard Manning; 9. Decision trees and Markov models in cost-effectiveness research Emmett Keeler; 10. Alternative methods of allocating health resources under constraints Frank A. Sloan and Christopher J. Conover.
'A fine set of papers by superb authors who well describe the current state-of-the-art in cost benefit and cost effectiveness analysis.' Joseph P. Newhouse, Harvard University