A study on the cost-effectiveness of coronary revascularization: introducing the simultaneous mimic health status model

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A study on the cost-effectiveness of coronary revascularization: introducing the simultaneous mimic health status model

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Jae Sang Lee (Steel and Economics Research Division, POSCO Research Institute, Seoul, Korea)
Martin J. Bailey (Department of Economics, Emory University, USA)
Jinook Jeong (Department of Economics, Ajou University, Suwon, Korea)
Patrick D. Mauldin (Department of Biometry and Epidemiology, Medical University of South Carolina, USA)
William S. Weintraub (Division of Cardiology, Emory University School of Medicine, USA)

Additional information is available for the following registered author(s):

Jinook Jeong

Abstract

An econometric model is presented to compare the cost-effectiveness of two alternative procedures, percutaneous transluminal coronary angioplasty (PTCA) and coronary artery bypass surgery (CABG), for the treatment of multivessel coronary artery disease. This study utilizes the MIMIC (multiple indicator multiple cause) health model in a simultaneous equation system to analyse Emory Angioplasty Surgery Trial (EAST) data. This method eliminates the possibility of endogeneity bias, which may have affected the results of previous cost-effectiveness analyses on this topic. The empirical results indicate that neither procedure proves more cost-effective at 3 year follow-up. © 1997 John Wiley & Sons, Ltd.

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Article provided by John Wiley & Sons, Ltd. in its journal Health Economics.

Volume (Year): 6 (1997)
Issue (Month): 6 ()
Pages: 613-623
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Handle: RePEc:wly:hlthec:v:6:y:1997:i:6:p:613-623

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