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Related Concept Videos

Ratio Level of Measurement00:54

Ratio Level of Measurement

The way a set of data is measured is called its level of measurement. Correct statistical procedures depend on a researcher being familiar with levels of measurement. For analysis, data are classified into four levels of measurement—nominal, ordinal, interval, and ratio.
A set of data measured using the ratio scale takes care of the ratio problem and provides complete information. Ratio scale data are like interval scale data, except they have a zero point and ratios can be calculated. For...
Measurement: Derived Units03:02

Measurement: Derived Units

The International System of Units or SI system, by international agreement, has fixed measurement units for seven fundamental properties: length, mass, time, temperature, electric current, amount of substance, and luminosity. These are called the SI base units.
Measurement: Standard Units03:38

Measurement: Standard Units

Every measurement provides three kinds of information: the size or magnitude of the measurement (a number), a standard of comparison for the measurement (a unit), and an indication of the uncertainty of the measurement. While the number and unit are explicitly represented when a quantity is written, the uncertainty is an aspect of the errors in the measurement results.
Measures of Central Tendency02:16

Measures of Central Tendency

The "center" of a data set is also a way of describing location. The two most widely used measures of the "center" of the data are the mean (average) and the median. The words "mean" and "average" are often used interchangeably. The substitution of one word for the other is common practice. The technical term is "arithmetic mean" and "average" is technically a center location. However, in practice among non-statisticians, "average" is commonly accepted for "arithmetic mean."
Interval Level of Measurement00:55

Interval Level of Measurement

For effective statistical analysis, data are classified into four levels of measurement—nominal, ordinal, interval, and ratio.
Data measured using the interval scale are similar to ordinal level data because they have a definite arrangement. However, in the interval level of measurement, the differences between data values are meaningful even though the data does not have a starting point.
Temperature is measured using the interval scale. It is measurable data, and the difference between the...
Statistical Analysis: Overview01:11

Statistical Analysis: Overview

When we take repeated measurements on the same or replicated samples, we will observe inconsistencies in the magnitude. These inconsistencies are called errors. To categorize and characterize these results and their errors, the researcher can use statistical analysis to determine the quality of the measurements and/or suitability of the methods.
One of the most commonly used statistical quantifiers is the mean, which is the ratio between the sum of the numerical values of all results and the...

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Measuring the Switch Cost of Smartphone Use While Walking
07:00

Measuring the Switch Cost of Smartphone Use While Walking

Published on: April 30, 2020

Measurement of costs.

Arthorn Riewpaiboon1

  • 1Division of Social and Administrative Pharmacy, Department of Pharmacy, Faculty of Pharmacy, Mahidol University, Bangkok 10400, Thailand. pyarp@mahidol.ac.th

Journal of the Medical Association of Thailand = Chotmaihet Thangphaet
|March 4, 2009
PubMed
Summary

Standardizing health economics costing methods is crucial for comparable studies. This study recommends measuring economic costs from a societal perspective using direct, non-medical, and indirect cost categories for Thai health technology assessment guidelines.

Area of Science:

  • Health Economics
  • Health Technology Assessment
  • Economic Evaluation

Background:

  • Costing is vital in health economics and economic evaluation.
  • Current methods face challenges in concepts, methods, and reference values.
  • Standardized costing methods are needed for national guidelines and comparable studies.

Purpose of the Study:

  • To address controversial issues in health economics costing.
  • To compare international guidelines for costing methods.
  • To provide recommendations for Thai health technology assessment guidelines.

Main Methods:

  • The report is structured into three parts: theoretical issues, international guidelines comparison, and recommendations.
  • Each section covers general costing steps: identification, measurement, and valuation.

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  • Analysis includes reliability of costing source data and valuation based on national standards.

    • Main Results:

    • Economic or opportunity costs should primarily be measured from a societal perspective.
    • Cost categories include direct medical, direct non-medical, and indirect costs.
    • National government and standard cost menus are recommended for valuation in policy-making.

    Conclusions:

    • Recommendations for cost measurement are suitable for the Thai context and current situation.
    • Standardized costing methods will enhance the comparability and reliability of economic evaluations in Thailand.
    • Adoption of these recommendations can support evidence-based national policy making.