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Related Experiment Videos

Willingness to pay for hormone replacement therapy

N Zethraeus1

  • 1Stockholm School of Economics, Centre for Health Economics, Sweden. henz@hhs.se

Health Economics
|April 16, 1998
PubMed
Summary

Women are willing to pay approximately SEK 40,000 annually for hormone replacement therapy (HRT) to manage menopausal symptoms. This willingness to pay exceeds the therapy

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Area of Science:

  • Health Economics
  • Pharmacoeconomics
  • Menopause Research

Background:

  • Menopausal symptoms significantly impact women's quality of life.
  • Hormone replacement therapy (HRT) is a common treatment option.
  • Understanding the economic value of HRT is crucial for healthcare decision-making.

Purpose of the Study:

  • To estimate women's willingness to pay (WTP) for hormone replacement therapy (HRT).
  • To compare the estimated WTP with the actual cost of HRT.
  • To determine the implied WTP per quality-adjusted life year (QALY) gained from HRT.

Main Methods:

  • Utilized parametric and non-parametric methods to estimate mean WTP.
  • Employed rating scale (RS) and time trade-off (TTO) methods to assess QALY values.
  • Economic modeling of utility from consumption and health.

Main Results:

  • Mean WTP for HRT was estimated at approximately SEK 40,000 per year.
  • Estimated mean WTP was found to be higher than the mean treatment cost of HRT.
  • Implied WTP per QALY ranged from SEK 120,000 (RS) to SEK 160,000 (TTO).

Conclusions:

  • Women express a significant willingness to pay for HRT to alleviate menopausal symptoms.
  • The economic value of HRT, as indicated by WTP, supports its cost-effectiveness.
  • QALY-based valuations provide further economic justification for HRT interventions.

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