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Cost-effectiveness Analysis for Technology Acquisition.

A Chakravarty1, S S Naware2

  • 1Commanding Officer, 179 MH c/o 99 APO.

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|July 14, 2016
PubMed
Summary
This summary is machine-generated.

Establishing an in-house magnetic resonance imaging (MRI) facility is more cost-effective than outsourcing. Life-cycle cost analysis reveals the in-house option offers better value for healthcare technology acquisition.

Keywords:
Cost benefit analysisCost-effectiveness analysisTechnology assessment

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Area of Science:

  • Health economics
  • Medical technology assessment
  • Healthcare management

Background:

  • Limited resources in developing countries necessitate cost-effective technology acquisition.
  • A total cost visibility approach across the technology life-cycle is crucial.
  • Analyzing alternative technology acquisition options is essential for resource optimization.

Purpose of the Study:

  • To compare the cost-effectiveness of an in-house magnetic resonance imaging (MRI) facility versus outsourcing.
  • To determine the most financially viable option for MRI services in a hospital setting.

Main Methods:

  • Calculated cost per unit scan using the operating costing method.
  • Determined the break-even volume for the MRI facility.
  • Performed life-cycle cost analysis for both in-house and outsourced configurations.
  • Conducted a cost-effectiveness analysis using eight Figures of Merit.

Main Results:

  • The in-house MRI configuration showed a more favorable Net Present Value (NPV) compared to outsourcing.
  • Cost per unit scan was Rs 3,875 (without contrast) and Rs 4,129 (with contrast).
  • The in-house facility was identified as the more acceptable option based on cost-effectiveness.

Conclusions:

  • Life-cycle cost analysis is imperative for all high-end technology acquisition decisions.
  • In-house MRI facilities can be more cost-effective than outsourcing in resource-limited settings.
  • Strategic financial analysis ensures optimal utilization of healthcare resources.