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Hearing aids

In: Cost-Benefit Analysis and Dementia

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Abstract

The third new dementia intervention is hearing aids (HAs). For the previous two interventions, independent-living cost savings measured benefits. For the HA CBA, we now focus on the QoL as the final outcome to be valued. The monetary value for the QoL is based on the value of a statistical life (VSL) literature. Hearing loss is caused by the natural aging of the auditory system and can be offset by HAs. Since interfering with activities of daily living (ADL) is our behavioural definition of dementia, it is by HAs allowing ADL to continue that HAs reduce dementia symptoms. Using a one-way fixed effects estimation method is the causal strategy for explaining why HAs reduce dementia symptoms. For each dollar of costs for HAs, there are in total over 29 dollars of benefits, which includes 1.2 benefits per dollar of costs just from the dementia benefits. Thus, HAs are clearly worthwhile.

Suggested Citation

  • ., 2022. "Hearing aids," Chapters, in: Cost-Benefit Analysis and Dementia, chapter 5, pages 67-79, Edward Elgar Publishing.
    • Handle: RePEc:elg:eechap:19697_5
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