IDEAS home Printed from https://ideas.repec.org/a/spr/hecrev/v11y2021i1d10.1186_s13561-021-00327-x.html
   My bibliography  Save this article

Economic evaluation of process utility: elucidating preferences for a non-invasive procedure to treat restenosis

Author

Listed:
  • Maria V. Aviles-Blanco

    (University of Sevilla)

Abstract

Background In health economic evaluation, utility associated with a health state is outcome-oriented and usually measured using the QALY methodology. Even though there is consistent evidence of utility not only being derived from outcomes but also from procedures, process utility has not been fully integrated in QALY calculations. The aim of this paper is twofold: first, to provide evidence of process utility associated with an alternative treatment to angioplasty, and second, to estimate a monetary value of such process utility using the willingness to pay (WTP) approach. Methods A total of 1514 people were polled on their WTP to avoid angioplasty to have a drug-eluting stent (DES) implanted. WTP is estimated with a contingent valuation (CV) survey. Individuals are also asked if they would be WTP for a non-invasive procedure with similar results being achieved. WTP responses were analyzed using a double bounded (DB) logit model. Results Most of the participants showed positive preferences for avoiding angioplasty, with an estimated mean WTP of €5692.87. Using QALY gains for avoiding angioplasty, varying from 0.0035 to 0.08 QALYs, our WTP estimate imply monetary values per QALY that range from €71,160.87 to €1,626,534.28. Discussion A WTP of €5692.87 to avoid angioplasty imply a monetary value per QALY that greatly exceed the cost per QALY thresholds established in different countries to consider health programs as beneficial to society. Our results reflect how different methodologies for HTA may lead to different conclusions. From the ICER perspective, the cost that would make the treatment with pills option cost-effective, using a threshold of €40,000/QALY, would be €224. However, a cost-benefit approach could support health programs even with a higher cost. Conclusion WTP methodology captures outcome and process factors related to angioplasty as our WTP estimations are non-significantly different for the costs of angioplasty. WTP approach must be considered as a genuine alternative to QALY approaches to value process utility.

Suggested Citation

  • Maria V. Aviles-Blanco, 2021. "Economic evaluation of process utility: elucidating preferences for a non-invasive procedure to treat restenosis," Health Economics Review, Springer, vol. 11(1), pages 1-10, December.
    • Handle: RePEc:spr:hecrev:v:11:y:2021:i:1:d:10.1186_s13561-021-00327-x
    DOI: 10.1186/s13561-021-00327-x
    as

    Download full text from publisher

    File URL: http://link.springer.com/10.1186/s13561-021-00327-x
    File Function: Abstract
    Download Restriction: no
    File URL: https://libkey.io/10.1186/s13561-021-00327-x?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Patrick W. Sullivan & Vahram Ghushchyan, 2006. "Preference-Based EQ-5D Index Scores for Chronic Conditions in the United States," Medical Decision Making, , vol. 26(4), pages 410-420, July.
    2. Bruno Frey & Matthias Benz & Alois Stutzer, 2004. "Introducing Procedural Utility: Not Only What, but Also How Matters," Journal of Institutional and Theoretical Economics (JITE), Mohr Siebeck, Tübingen, vol. 160(3), pages 377-401, September.
    3. Greenberg, Dan & Bakhai, Ameet & Neumann, Peter J. & Cohen, David J., 2004. "Willingness to pay for avoiding coronary restenosis and repeat revascularization: results from a contingent valuation study," Health Policy, Elsevier, vol. 70(2), pages 207-216, November.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Carlo Borzaga & Ermanno Tortia, 2004. "Worker involvement in entrepreneurial nonprofit organizations. Toward a new assessment of workers' perceived satisfaction and fairness," Department of Economics Working Papers 0409, Department of Economics, University of Trento, Italia.
    2. Bhuiyan, Muhammad Faress & Ivlevs, Artjoms, 2019. "Micro-entrepreneurship and subjective well-being: Evidence from rural Bangladesh," Journal of Business Venturing, Elsevier, vol. 34(4), pages 625-645.
    3. Astrid Dannenberg & Carlo Gallier, 2020. "The choice of institutions to solve cooperation problems: a survey of experimental research," Experimental Economics, Springer;Economic Science Association, vol. 23(3), pages 716-749, September.
    4. Hans-Jürgen Engelbrecht, 2015. "A General Model of the Innovation - Subjective Well-Being Nexus," Economic Complexity and Evolution, in: Andreas Pyka & John Foster (ed.), The Evolution of Economic and Innovation Systems, edition 127, pages 69-90, Springer.
    5. Marc Le Menestrel, 2003. "A one-shot Prisoners’ Dilemma with procedural utility," Economics Working Papers 819, Department of Economics and Business, Universitat Pompeu Fabra.
    6. DeCaro, Daniel, 2021. "Codebook For Analyzing Content And Function Of Communication In Social-Ecological Dilemma Experiments," SocArXiv 856hm, Center for Open Science.
    7. Schnellenbach, Jan & Schubert, Christian, 2015. "Behavioral political economy: A survey," European Journal of Political Economy, Elsevier, vol. 40(PB), pages 395-417.
    8. Cueto, Begona & Pruneda, Gabriel, 2015. "Job Satisfaction of Wage and Self-Employed workers. Do preferences make a difference?," MPRA Paper 65432, University Library of Munich, Germany.
    9. Violeta Misheva, 2016. "What Determines Emotional Well-Being? The Role of Adverse Experiences: Evidence Using Twin Data," Journal of Happiness Studies, Springer, vol. 17(5), pages 1921-1937, October.
    10. Stutzer Alois & Frey Bruno S., 2006. "Making International Organizations More Democratic," Review of Law & Economics, De Gruyter, vol. 1(3), pages 305-330, January.
    11. Ortiz-Riomalo, Juan Felipe & Koessler, Ann-Kathrin & Engel, Stefanie, 2021. "Inducing perspective-taking for prosocial behaviour in natural resource management," Journal of Environmental Economics and Management, Elsevier, vol. 110(C).
    12. Knott, R. & Lorgelly, P. & Black, N. & Hollingsworth, B., 2016. "Differential item functioning in the EQ-5D: An exploratory analysis using anchoring vignettes," Health, Econometrics and Data Group (HEDG) Working Papers 16/14, HEDG, c/o Department of Economics, University of York.
    13. Jirjahn Uwe & Tsertsvadze Georgi, 2006. "Betriebsräte und Arbeitszufriedenheit / Works Councils and Job Satisfaction," Journal of Economics and Statistics (Jahrbuecher fuer Nationaloekonomie und Statistik), De Gruyter, vol. 226(5), pages 537-561, October.
    14. Pillai N., Vijayamohanan & B. P., Asalatha, 2013. "Objectivizing the Subjective: Measuring Subjective Wellbeing," MPRA Paper 45005, University Library of Munich, Germany.
    15. Miloš Fišar & Tommaso Reggiani & Fabio Sabatini & Jiří Špalek, 2022. "Media negativity bias and tax compliance: experimental evidence," International Tax and Public Finance, Springer;International Institute of Public Finance, vol. 29(5), pages 1160-1212, October.
    16. Sana El Harbi & Gilles Grolleau & Insaf Bekir, 2014. "Substituting piracy with a pay-what-you-want option: does it make sense?," European Journal of Law and Economics, Springer, vol. 37(2), pages 277-297, April.
    17. Yahya Gamal & Nuno Pinto & Deljana Iossifova, 2024. "The role of procedural utility in land market dynamics in Greater Cairo: An agent based model application," Environment and Planning B, , vol. 51(4), pages 954-970, May.
    18. Nikolova, Milena, 2016. "Minding the happiness gap: Political institutions and perceived quality of life in transition," European Journal of Political Economy, Elsevier, vol. 45(S), pages 129-148.
    19. Stutzer, Alois & Baltensperger, Michael & Meier, Armando N., 2018. "Overstrained Citizens?," Working papers 2018/25, Faculty of Business and Economics - University of Basel.
    20. Bruno S. Frey & Alois Stutzer, "undated". "The Role of Direct Democracy and Federalism in Local Power," IEW - Working Papers 209, Institute for Empirical Research in Economics - University of Zurich.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:spr:hecrev:v:11:y:2021:i:1:d:10.1186_s13561-021-00327-x. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com/economics/journal/13561 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.