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Annuitizing the human capital investment costs of health service professionals

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  • Ann Netten
  • Jane Knight

Abstract

When evaluating initiatives that make innovative uses of staff it is important to consider the long‐term cost consequences of training an appropriately qualified workforce. In order to incorporate the costs of qualifying professionals we need both the costs themselves and an appropriate method of annuitizing these costs. This paper focuses on the latter and describes an approach to estimating the expected working life of health service professionals and a method of annuitization that takes into consideration patterns of employment over time. Analyses of the census and Labour Force Survey result in estimates of expected working lives of between 19 and 22 years for nurses and 26 and 29 years for doctors. The implications of different assumptions about the distribution of these years for the equivalent annual cost are identified. Copyright © 1999 John Wiley & Sons, Ltd.

Suggested Citation

  • Ann Netten & Jane Knight, 1999. "Annuitizing the human capital investment costs of health service professionals," Health Economics, John Wiley & Sons, Ltd., vol. 8(3), pages 245-255, May.
    • Handle: RePEc:wly:hlthec:v:8:y:1999:i:3:p:245-255
    DOI: 10.1002/(SICI)1099-1050(199905)8:3<245::AID-HEC430>3.0.CO;2-4
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    File URL: https://doi.org/10.1002/(SICI)1099-1050(199905)8:33.0.CO;2-4
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    Cited by:

    1. Matosevic, Tihana & Knapp, Martin & Forder, Julien & Kendall, Jeremy, 2000. "Independent sector domiciliary care providers in 1999," LSE Research Online Documents on Economics 19012, London School of Economics and Political Science, LSE Library.
    2. Alex J. Turner & Matt Sutton & Mark Harrison & Alexandra Hennessey & Neil Humphrey, 2020. "Cost-Effectiveness of a School-Based Social and Emotional Learning Intervention: Evidence from a Cluster-Randomised Controlled Trial of the Promoting Alternative Thinking Strategies Curriculum," Applied Health Economics and Health Policy, Springer, vol. 18(2), pages 271-285, April.

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