H_13_05W_Cost effectiveness 438

H_13_05W_Cost effectiveness 438 - Purpose of economic...

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Purpose of economic analysis To aid in resource allocation decisions Specifies alternatives Resources matter
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Issues Who Decides? Methodology Based on Averages
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Types of Economic Analysis Cost - Minimization: $ vs. $ (same outcome) Cost - Effectiveness: $/ Outcome units Cost - Utility: $/Quality units Cost - Benefit: $/$ or ($-$)
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ALWAYS Relative (Incremental) Cost 2 - Cost 1 ------------------------------ Outcome 2 - Outcome 1
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ALWAYS Relative (Incremental) $ Outcome ???? ???? DOMINATED PREFERRED
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Multiple Alternatives $ Outcomes A B C
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Different Perspectives Society Payer Employer Patient Provider Manufacturer
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Some important definitions Charge: List Price Price: What was paid Cost: Cost of production
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+ E Changes in use of Health Care Resources F Changes in Use of non- Health Care Resources G Changes in Use of Informal Caregiver Time H Changes in Use of Patient Time (for Treatment) A Intervention B Changes in Health Status D Production Output C Intrinsic Value NUMERATOR "Costs" DENOMINATOR "Health Effects" + +
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Micro vs. Macro costing Micro-costing Measure the cost of all resources used at a very detailed (micro) level Macro-costing Measure the costs at higher (more macro) level of
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This note was uploaded on 04/09/2008 for the course HMP 661 taught by Professor Michaelchernew during the Winter '06 term at University of Michigan.

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H_13_05W_Cost effectiveness 438 - Purpose of economic...

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