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HSH719 - Economic Evaluation Assignment - Deakin University, Australia
Learning Outcomes - Assesses Unit Learning Outcome/s (ULO): Completing this task will help to develop the intended learning outcomes of:
1: Explain the essential characteristics of economic evaluation, and how it differs from other forms of health care evaluations;
2: Compare and contrast the different methods of undertaking an economic evaluation;
3: Explain the basic steps in conducting an economic evaluation of a health care intervention;
4: Explain the different types of cost that will be included in an economic evaluation and how to measure and value these costs; and
5: Analyse the different methods of presenting health outcomes in an economic evaluation.
Economic Evaluation of Anxiety Program
Question 1 - Justify why you believe that an economic evaluation is needed, including any additional information you might need to support your argument.
Anxiety is the common reaction of an individual towards stress which has both physical as well as psychological impacts on the person. Researchers have evaluated that the feeling of anxiety arises in the amygdala part of the brain which mostly deal with the intense emotional responses. Moreover, it has been observed that anxiety is difficult to diagnose and it remains hidden between the other diseases and eventually damages increases with the passage of time. Substance abuse, as well as physical addictions, are general reaction of anxiety. Moreover, it is also overlooked in chronic conditions like migraine headaches as well as IBS (Irritable Bowel Syndrome) (Elena, Donald, DiCenso, Misener, & Kilpatrick, 2017). The chances of heart diseases are also high in anxiety. It could be said that it is a silent killer for a person and it needs to be evaluated and treated on time so the life of the person can be saved.
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Question 2 - Form a well-defined study question to help guide your economic evaluation? Make sure you include all the elements of a good study question, including how health outcomes will be measured. Include a comment on whether you think the time horizon of the RCT is appropriate.
Do high scores have been noted in the physical, emotional and social functioning of the individual? This specific question will help in analyzing the current situation of the person. If the changes in the demeanour and mental condition of the individual is being noted then there are clear signs that the person is making the progress and over the time, the condition will only improve and the paid cost will be worthwhile. The RCT horizon which has been selected is quite appropriate. Because, even in the normal conditions the anti-depressants which are suggested by the doctor almost take 4 to 6 weeks for curing the anxiety and it is mandatory for the patient to use them on the regular basis for taking the disease out of the system (Jeremy, et al., 2009). However, it is not recommended that one use it whenever s/he finds the need. However, in this program instead of the medicine, the online sessions are being conducted thus it can take 8 weeks long to the person to get the anxiety out of the system and spend a healthy and happy life. There are chances that in the first few weeks the therapist evaluates the reasons for anxiety and then in the next weeks help the individual in coping it and finally ensuring that anxiety remains out of the system.
Question 3 - What type of economic evaluation do you think will be the most appropriate for answering your study question? Justify why you have chosen this method for your economic evaluation.
Economic evaluation refers toward the comparative evaluation of more than two interventions in reference of their cost and consequences. It is considered to be the assessment of numerous programs mainly based on their result sand outcomes. The basic concept in the economic evaluation is cost and benefits regarding all available programs. The pursuit of efficiency in the department of health care demands to put on priority the treatments which provide huge benefit per unit cost. This evaluation helps to prioritize program according to the nature of the study also, it allows making the best decision regarding optimal resource collection. Economic evaluation is used as a tool which allows accessing the probability and competence of various health interventions (Kendra, Day, & Dalton, 2015). There are different types of economic evaluation like Cost-benefit analysis, cost-effective analysis, cost-utility analysis, cost minimization analysis. Every process helps to analyses the system identification and measurement of the cost along with different consequences of various interventions. (Ques 1) Cost benefit analysis: this type of economic evaluation refers toward measuring cost along with benefits in commensurate terms majorly financial. According to the welfare economics, under some certain situation the excess over financial benefits over cost signify the gain in the wellbeing of the society. Cost benefit analysis allows to determine whether in person intervention gives overall net welfare gain along with the fact that how this welfare gain collected through intervention can compares with alternative interventions (Larry, Jago, & Forsyth, 2016). Cost Effective analysis: refers toward health benefits concerning with natural unites, for instance saved years of life and the improvement in related functional areas. The cost and benefits under this type of economic evaluation measured in units which are non-comparable. The ration of this units provides a yardstick in order to assess productive efficiency (Hazel, 2016). However, this fact does not allow us to evaluate relative efficiency regarding intervention. Consequently, this process provides greater benefits on the high cost while low benefits on the lower cost. Cost utility analysis: is considered to an adaptation of cost efficiency analysis. it measures the effects of intervention in both aspects qualitative and quantitative of health. Such as morbidity and mortality. For this study, the Cost unit analysis will be used because it is more convenient for the nature of the study. Further, is used the utility measure such as the quality life years and in this type the optimal decision rule in cost utility analysis includes the ranking incremental cost of different interventions.
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Question 4 - Identify the resources that you will collect under the categories C1, C2, C3 and C4.
In every healthcare program setting, there is a different kind of resources which are utilized. The healthcare resources comprised of the cost which is required for the proper operating and organization of program including the resources which are necessary to prevent any kind of adverse event. The cost can easily be evaluated by listing the ingredients like variable cost include supplies or healthcare professional while fixed cost comprised of heat, capital costs, rent and light. These resources can be divided into 4 different categories; C1, C2, C3 and C4. The C1 category is related to the healthcare sector which in turn is related to the health state change. the effects of this category are evaluated by the health state preference and willingness to pay (Sophy, et al., 2018). In the category C1, the researcher will also select the health state preferences because if the physical and mental condition of the individual will change then one will be more than willing to pay for the whole program. C2 comprised of the resources which are provided by the other sectors for the healthcare program for value creation. For instance, some of the non-profitable charity organizations can provide the helping hand for the overall program. While the C3 category of the consumed resources includes cost, which incurs to the patient or its family. These resources include any kind of patient or family resources which are out-of-pocket expenses. they use the cost of contributing to the healthcare program. The C4 is concerned regarding the cost which incurs due to productivity loss. For instance, when the patient or family members lose work time due to ensuring presence in the healthcare program then there can be productivity loss. The extra cost is also incur to the facility which is conducting the program in some other way for instance, as the anxiety program is being conducted in the school among the children and the timings have been selected after the school classes which will definitely save the productivity loss cost but it will increase the fixed cost such as the lights will remain turn on for the longer period moreover the computers will be also used which can enhance the electricity bill. To cover this extra cost there are chances that school can charge extra money to the parents and cover up the cost. These extra charges may remain the part of the fee even after the completion of the program which will be only a burden for the families but profitability for the school (David & Walker, 2017).
Question 5 - Outline the information and data sources that you would use for collecting the resource and cost information for your economic evaluation.
There are different methods which can be used for information gathering. However, the researcher will mainly rely on online information for it. This is mainly because the technology has progressed so much almost all the information regarding different methods and other things is present at the online platforms. Different web sources will be used including the official websites of the government and hospitals. Moreover, the general expenses mechanism will be also checked. Peer review journal articles will be searchers for evaluating the correct type of resources which are needed in the whole process. lastly, to further ensure the data information is correct some of the nearby organizations will be visited on to collect the information. Once the data has been collected then it will be compared and contrast with the online sources and in this manner, one can judge the correct required plan. Moreover, for the resources, a whole list will be prepared in which all the critical things will be mentioned which are mandatory for conducting the whole program in an effective manner and also deal with the unpleasant or uncertain conditions.
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Question 6 - Explain how you will value each of your resource inputs in your economic evaluation.
The increased point of the physical, social and environmental condition of the individuals is the key purpose of the whole program. if this requirement is being met then all the utilized resources, as well as the cost, is valued. This is mainly because the whole program is being conducted for improving the health of the school students. Stress and anxiety are not good for their health. It can cause hell a lot of problem for them in their life. For instance, they can fall prey to drug addiction or any other physical addiction which can destroy their whole life. Moreover, the chances of social crimes also increase with the passage of time because when the addicted do not get the required resources to meet their demands then they use different methods to fulfil their mission/
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Question 7 - Explain and justify how you will collect and value the health outcomes you have chosen for your economic evaluation.
The goal of measuring health care is to ensure the improvement of patient experience and to evaluate either this study accomplished the goals or not. In order to measure the results of treatment given to the students, an observer reported measurement tool will be considered to evaluate the consequences of the study and its impact on the mental health of students, parents can play role in providing the information regarding the situation of children participated in this study. This method is appropriate, it will reduce the ratio of any biased result, people will provide information which they have observed. On other hand, to evaluate the cost-effectiveness of this study, cost-effectiveness plane will be used to measure the results, the horizontal axis of that pane will help show the difference between the intervention and the interest, the vertical axis will show the cost while slope of OA line will provide the ratio of cost-effectiveness of this study. Every quadrant will represent the relationship of cost along with the ratio of effectiveness, most probably the research outcome will fall in the north-east quadrant, the effectiveness of the research and treatment will be effective but the cost is high as well. Other quadrants will show a lack of effectiveness in health outcomes. Selection of this tool is based on its effectivity, as it is useful to provide uncertainty regarding the outcomes (Delaney & Danna, 2019), it is possible that every evaluation will show some degree of uncertainty or controversy, which can be handled through sensitivity analysis. This evaluation will help in providing insights about the effectivity of the report and its impact on the participants.
The concern study is conducted in order to evaluate the factor of anxiety on school going kids. The population of the study is the students who practically fil the form and return form and agree to participate in the session which is going to held online with the experts and the people who are going through same phenomena. The victims sharing their stories with other will give courage to the anxiety patents. For this research number of techniques was used such as cost-effective plan to measure the cost effectiveness of the concern subject and typo measure the mental health of students along with observed report and measurement tool. The economic evaluation allows the research use different type and for this study the research had s use which was most convenient for the study, cost utility analysis. It can be applied on both qualitative and quantitate aspects, using this and other techniques the accuracy of the research will be high.
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