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Values Beyond "Health" in Budget-Constrained Healthcare Systems.

Charles E Phelps1

  • 1Department of Economics, University of Rochester, Rochester, NY, USA; Department of Public Health Sciences, University of Rochester, Rochester, NY, USA; Department of Political Science, University of Rochester, Rochester, NY, USA.

Value in Health : the Journal of the International Society for Pharmacoeconomics and Outcomes Research
|February 24, 2024
PubMed
Summary
This summary is machine-generated.

This study introduces new methods to value healthcare treatments beyond quality-adjusted life-years, incorporating additional health outcomes in budget-constrained systems. It shows how to infer value from budget allocations for better healthcare assessment.

Keywords:
fixed-budget healthcare systemssocial welfare functionsvalues beyond “health”

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Area of Science:

  • Health Economics
  • Welfare Economics
  • Healthcare Management

Background:

  • Current healthcare valuation methods, like quality-adjusted life-years (QALYs), have limitations.
  • QALYs do not capture all dimensions of value associated with healthcare treatments.
  • There is a need for methods that incorporate additional health-related outcomes, especially in resource-constrained settings.

Purpose of the Study:

  • To develop methodologically sound ways to incorporate additional health-related outcomes into healthcare valuation.
  • To focus on budget-constrained healthcare systems where standard welfare economics methods are often not used.
  • To provide a framework for assessing the full value of healthcare treatments.

Main Methods:

  • Utilized extra-welfarist approaches to maximize aggregate health under fixed budget constraints.
  • Employed Lagrange multiplier methods for optimization.
  • Introduced social welfare functions to incorporate equity considerations like disability and disease severity.

Main Results:

  • Developed methods to assess willingness to pay for additional health values in fixed-budget situations.
  • Demonstrated how understanding healthcare costs and health augmentation informs value assessment.
  • Analysis presented in supplemental materials provides detailed insights.

Conclusions:

  • In budget-constrained systems, healthcare values are inferred from actual budget allocations.
  • Combined methods allow for a transition from valuing "health" to valuing "welfare" in healthcare.
  • These approaches enhance the measurement of increased healthcare use value.