1. Economic evaluation for mass vaccination against COVID-19
- Author
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Chen Yang Hsu, Wei-Chun Wang, Ray-E Chang, Hsiu-Hsi Chen, Jean Ching Yuan Fann, Jin-Tan Liu, Amy Ming Fang Yen, and Ya-Chung Jeng
- Subjects
Medicine (General) ,COVID-19 Vaccines ,Cost-Benefit Analysis ,Mass Vaccination ,03 medical and health sciences ,Indirect costs ,R5-920 ,0302 clinical medicine ,ChAdOx1 nCoV-19 ,Humans ,Medicine ,Productivity ,BNT162 Vaccine ,health care economics and organizations ,Cost–utility analysis ,Actuarial science ,Cost–benefit analysis ,business.industry ,Cost-utility analysis ,COVID-19 ,General Medicine ,Vaccination ,030220 oncology & carcinogenesis ,Economic evaluation ,Liberian dollar ,Original Article ,030211 gastroenterology & hepatology ,business ,Vaccine ,Value of statistical life ,Decision analysis - Abstract
Background Vaccine is supposed to be the most effective means to prevent COVID-19 as it may not only save lives but also reduce productivity loss due to resuming pre-pandemic activities. Providing the results of economic evaluation for mass vaccination is paramount important for all stakeholders worldwide. Methods We developed a Markov decision tree for the economic evaluation of mass vaccination against COVID-19. The effectiveness of reducing outcomes after the administration of three COVID-19 vaccines (BNT162b2 (Pfizer-BioNTech), mRNA-1273 (Moderna), and AZD1222 (Oxford-AstraZeneca)) were modelled with empirical parameters obtained from literatures. The direct cost of vaccine and COVID-19 related medical cost, the indirect cost of productivity loss due to vaccine jabs and hospitalization, and the productivity loss were accumulated given different vaccination scenarios. We reported the incremental cost-utility ratio and benefit/cost (B/C) ratio of three vaccines compared to no vaccination with a probabilistic approach. Results Moderna and Pfizer vaccines won the greatest effectiveness among the three vaccines under consideration. After taking both direct and indirect costs into account, all of the three vaccines dominated no vaccination strategy. The results of B/C ratio show that one dollar invested in vaccine would have USD $13, USD $23, and USD $28 in return for Moderna, Pfizer, and AstraZeneca, respectively when health and education loss are considered. The corresponding figures taking value of the statistical life into account were USD $176, USD $300, and USD $443. Conclusion Mass vaccination against COVID-19 with three current available vaccines is cost-saving for gaining more lives and less cost incurred.
- Published
- 2021
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