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Willingness to pay as a measure of the benefits of mental health care.

Andrew Healey1, Daniel Chisholm

  • 1Centre for the Economics of Mental Health, Institute of Psychiatry, 7 Windsor Walk, London SE5 8BB, UK, spteath@iop.kcl.ac.uk

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Willingness-to-pay surveys can quantify mental health outcomes in monetary terms. This provides a framework for cost-benefit analyses, aiding resource allocation in mental health policy and research.

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Area of Science:

  • Health Economics
  • Mental Health Policy
  • Health Services Research

Background:

  • Decision-makers need to evaluate mental health interventions using consistent units, preferably monetary.
  • Quantifying intervention consequences in money facilitates cost-benefit analysis for resource allocation.

Purpose of the Study:

  • To review willingness-to-pay (WTP) survey techniques within the policy and research context.
  • To examine WTP approaches for cost-benefit analyses in mental health.
  • To identify areas in mental health research and policy benefiting from WTP data.

Main Methods:

  • Review of willingness-to-pay survey techniques.
  • Discussion of validity and application issues for cost-benefit analyses in mental health.
  • Focus on contingent valuation as a primary WTP data generation method.

Main Results:

  • Various survey methods exist for generating willingness-to-pay data.
  • Contingent valuation is a common approach.
  • Assessing data validity is crucial for economic preference consistency.

Conclusions:

  • Valid monetized values of mental health outcomes can enhance evidence-based resource allocation.
  • Willingness-to-pay techniques offer a framework for economic evaluation of mental health policies.
  • Improved data supports better planning and evaluation of mental health interventions.