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Theoretical Issues Relevant to the Economic Evaluation of Health Technologies

In: Handbook of Health Economics

Author

Listed:
  • Meltzer, David O.
  • Smith, Peter C.

Abstract

Medical cost-effectiveness analysis (CEA) is perhaps the most widely applied tool to guide policy decisions concerning the use of health care resources. This chapter first reviews the rationale for and common practice of medical cost-effectiveness analysis. It seeks to place CEA within a conventional microeconomic framework. Methodological controversies in CEA are then discussed within this framework. They include: the decision-making perspective of the analysis; incorporating equity concerns; the treatment of joint costs and benefits; and the treatment of time horizon and discounting.

Suggested Citation

  • Meltzer, David O. & Smith, Peter C., 2011. "Theoretical Issues Relevant to the Economic Evaluation of Health Technologies," Handbook of Health Economics, in: Mark V. Pauly & Thomas G. Mcguire & Pedro P. Barros (ed.), Handbook of Health Economics, volume 2, chapter 0, pages 433-469, Elsevier.
    • Handle: RePEc:eee:heachp:2-433
    DOI: 10.1016/B978-0-444-53592-4.00007-4
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    Citations

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    Cited by:

    1. Boone, J., 2014. "Basic versus Supplementary Health Insurance : The Role of Cost Effectiveness and Prevalence," Discussion Paper 2014-065, Tilburg University, Center for Economic Research.
    2. Linda M. Vries & Pieter H. M. Baal & Werner B. F. Brouwer, 2019. "Future Costs in Cost-Effectiveness Analyses: Past, Present, Future," PharmacoEconomics, Springer, vol. 37(2), pages 119-130, February.
    3. Boone, J., 2013. "Does the Market Choose Optimal Health Insurance Coverage," Other publications TiSEM f7691fbf-f770-4714-b1b4-1, Tilburg University, School of Economics and Management.
    4. Bram Wouterse & Pieter Baal & Matthijs Versteegh & Werner Brouwer, 2023. "The Value of Health in a Cost-Effectiveness Analysis: Theory Versus Practice," PharmacoEconomics, Springer, vol. 41(6), pages 607-617, June.
    5. Lisa A. Prosser & Kara Lamarand & Acham Gebremariam & Eve Wittenberg, 2015. "Measuring Family HRQoL Spillover Effects Using Direct Health Utility Assessment," Medical Decision Making, , vol. 35(1), pages 81-93, January.
    6. Boone, Jan, 2013. "Does the market choose optimal health insurance coverage?," CEPR Discussion Papers 9420, C.E.P.R. Discussion Papers.
    7. Boone, Jan, 2018. "Basic versus supplementary health insurance: Access to care and the role of cost effectiveness," Journal of Health Economics, Elsevier, vol. 60(C), pages 53-74.
    8. Martin Forster & Paolo Pertile, 2013. "Optimal decision rules for HTA under uncertainty: a wider, dynamic perspective," Health Economics, John Wiley & Sons, Ltd., vol. 22(12), pages 1507-1514, December.
    9. Boone, J., 2014. "Basic versus Supplementary Health Insurance : The Role of Cost Effectiveness and Prevalence," Other publications TiSEM be4cbf5b-f13b-460a-a9cc-1, Tilburg University, School of Economics and Management.
    10. Dukhanin, Vadim & Searle, Alexandra & Zwerling, Alice & Dowdy, David W. & Taylor, Holly A. & Merritt, Maria W., 2018. "Integrating social justice concerns into economic evaluation for healthcare and public health: A systematic review," Social Science & Medicine, Elsevier, vol. 198(C), pages 27-35.
    11. Chen, Peng-Ting, 2018. "Medical big data applications: Intertwined effects and effective resource allocation strategies identified through IRA-NRM analysis," Technological Forecasting and Social Change, Elsevier, vol. 130(C), pages 150-164.
    12. Pieter van Baal & Meg Perry‐Duxbury & Pieter Bakx & Matthijs Versteegh & Eddy van Doorslaer & Werner Brouwer, 2019. "A cost‐effectiveness threshold based on the marginal returns of cardiovascular hospital spending," Health Economics, John Wiley & Sons, Ltd., vol. 28(1), pages 87-100, January.
    13. Lakdawalla, Darius N. & Phelps, Charles E., 2020. "Health technology assessment with risk aversion in health," Journal of Health Economics, Elsevier, vol. 72(C).
    14. Stephen E. Chick & Noah Gans & Özge Yapar, 2022. "Bayesian Sequential Learning for Clinical Trials of Multiple Correlated Medical Interventions," Management Science, INFORMS, vol. 68(7), pages 4919-4938, July.

    More about this item

    Keywords

    health technology assessment; cost-effectiveness analysis; methodology; medical decision making;
    All these keywords.

    JEL classification:

    • I11 - Health, Education, and Welfare - - Health - - - Analysis of Health Care Markets
    • I18 - Health, Education, and Welfare - - Health - - - Government Policy; Regulation; Public Health

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