Abstract
This chapter discusses how to measure and evaluate the values in health-care decisions. The values of health-care decisions can be measured by health outcomes. The measured health outcomes are classified into clinical outcomes, humanistic outcomes, and economic and utilization outcomes. The clinical outcomes are the most commonly used health outcomes in comparative effectiveness research. However, evaluating the values of health-care decisions requires the economic and utilization outcomes (costs) also.
The values in health-care decisions can be evaluated to determine whether a health-care decision is an efficient use of society’s resources. The economic evaluation methods are classified into the cost-health outcome evaluations and cost-only evaluations. The former included cost-effectiveness analysis, cost-utility analysis, cost-consequence analysis, and cost-benefit analysis, and the latter included cost-minimization analysis and cost-of-illness/cost-identification analyses.
The most common type of economic evaluation is the cost-effectiveness analysis (including cost-utility analysis) that compares the costs and outcomes of alternative approaches to reaching the “same” objective in order to determine which alternative accomplishes a given objective at the least cost. The cost-benefit analysis can compare widely varying programs and services with different outcomes to evaluate allocative efficiency among interventions between health care and other sectors. Cost-of-illness/cost-identification analyses estimate economic burdens of disease or treatment on society. Cost-minimization analysis identifies the least expensive alternative to minimize cost with an assumption of identical effectiveness.
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Kim, M., Asche, C.V., Kim, I.K. (2016). The Question of Value. In: Asche, C. (eds) Applying Comparative Effectiveness Data to Medical Decision Making. Adis, Cham. https://doi.org/10.1007/978-3-319-23329-1_6
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DOI: https://doi.org/10.1007/978-3-319-23329-1_6
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