Valuing health : the generalized and risk-adjusted cost-effectiveness (GRACE) model / Charles E. Phelps and Darius N. Lakdawalla.

Format:

Book

Author/Creator:

Phelps, Charles E., author.

Lakdawalla, Darius, author.

Series:

Oxford scholarship online.

Oxford scholarship online

Language:

English

Subjects (All):

Medical economics.

Medical care--Cost effectiveness.

Medical care.

Value analysis (Cost control).

Physical Description:

1 online resource (329 pages)

Place of Publication:

New York, NY : Oxford University Press, 2024.

Summary:

Cost-effectiveness analysis (CEA) plays an important role in health policy debates, helping to shape resource allocation and pricing decisions. Yet many economists also recognise that the current framework can offer misleading and incomplete results. Current CEA methods imply that health improvements are equally valuable to those in good health and poor health, which fails to recognise the increased value of health improvements for those with severe illness or disability. This book introduces the generalised risk-adjusted cost-effectiveness (GRACE) model as a more accurate method for determining the value of medical treatments and technologies.

Contents:

Why We Need Cost-Effectiveness Analysis, How It Is Done, and Why It Needs Fixing

Diminishing Returns ... Everywhere

How Uncertain Treatment Outcomes Affect Value

The Total Value of Medical Interventions and the Tradeoff between Qol and Le

The Consequences of Permanent Disability

Multi Period Models

In Search of Decision Thresholds

Measuring the Risk Parameters

Putting Together the Parts

Transition Issues

Consequences for Health Plans

Welfare and Equity Implications of Grace

Conclusions and Next Steps.

Notes:

Also issued in print: 2024.

Includes bibliographical references and index.

Description based on online resource and publisher information; title from PDF title page (viewed on December 11, 2023).

Other Format:

Erscheint auch als

ISBN:

0-19-768632-X

0-19-768630-3

OCLC:

1413440889