Assessing the Broader Economic Value of Selected Healthcare Interventions in Greece

OBJECTIVES: To estimate public health benefits and subsequently assess the broader economic gains from using vaccines and pharmacological interventions, aimed at preventing and/or treating morbidity and at averting mortality which can be attributed to a vector of health conditions including pediatric vaccinations, lipid-lowering therapies and treatments for osteoporosis, glaucoma, pain, mental health and autoimmune disorders (ankylosing spondylitis, rheumatoid arthritis and ulcerative colitis).

METHODS: A mathematical model was constructed converting vaccine and treatment-induced mortality and morbidity gains into present values of averted lifetime or annual income loss, absenteeism, hospitalization costs, tax revenue loss and prevented disability pensions. Results were assessed using societal and fiscal analytic perspectives, utilized different mean ages per scope disease and were reported per 1,000 persons. Evidence for the effectiveness of healthcare interventions was obtained from literature. Economic data were obtained from official sources.

RESULTS: The lifetime societal and fiscal gain from vaccinating an annual cohort of 1,000 children is estimated at €0.4 million and €0.3 million, respectively. Treatment-induced reductions of cardiovascular morbidity and mortality [Ν=1000 patients, mean 63 years of age (YoA)] are expected to yield lifetime societal and fiscal gains of €0.2 and €0.1 million, respectively. The combined lifetime societal and fiscal benefits from treating glaucoma (69 YoA) and osteoporosis (64 YoA) are estimated at €0.02 and €0.09 million, respectively. Treating mental health (patients aged 25 YoA) may yield annual societal and fiscal gains of €1.3 and €0.5 million, respectively. Treating autoimmune disorders among working-aged adults may generate annual societal and fiscal gains of €6.5 and €1.3 million, respectively. The combined annual societal and fiscal gains from treating pain and respiratory diseases are estimated at €1.3 million and €0.5 million, respectively.

CONCLUSIONS: Prevention and treatment of ill-health in Greece may result in considerable economic returns which, in turn, increase fiscal space and contribute to the sustainability of public finances.