Alternative Economic Assessment for Expressing Healthcare Value and Informing Resource Allocation Decisions
Various stakeholders are involved in the funding, decision-making, policy-making, and delivery of effective healthcare. Each of these areas requires different perspectives and constraints that can’t be addressed by applying a single perspective modeling framework such as conventional cost-effectiveness analysis. Increasingly, alternative methodological frameworks are required for informing stakeholders outside of the HTA process regarding healthcare and how to inform decisions considering known constraints including budget. This course will discuss different established economic frameworks for assessing economic value. Firstly, faculty will explore fiscal health modeling (FHM) which reflects the government perspective on population health and investments in medical technologies. Specifically, the course will cover how government can benefit from investments in healthcare based on future changes in tax revenue and reduced transfer costs attributed to changes in health status. The course will also cover constrained optimization modeling which considers that decision-making is often made under specific constraints including budget, logistics, compliance, among other features. Thirdly, faculty will discuss the social accounting matrix (SAM) analytic framework which reflects multiple perspectives simultaneously and is used in developed and developing countries for assessing new budget policies. In the context of health, we apply SAM to understand how money flows through different economic sectors based on investments in healthcare. The course will discuss the strengths and weaknesses of these different frameworks and applications in resource allocation decisions. The course outline will follow the recently completed work of the ISPOR Task Force on Economic Analysis of Vaccination Programs Chaired by Josephine Mauskopf and Baudouin Standaert and published in Value in Health. Participants who wish to gain hands-on experience must bring their personal laptops with Microsoft Excel for Windows installed.
Conference/Value in Health Info
2020-11, ISPOR Europe 2020, Milan, Italy
Code
SC32