1. The monetary value of informal care: obtaining pure time valuations using a Discrete Choice Experiment
- Author
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Werner B. F. Brouwer, Job van Exel, Renske J. Hoefman, Health Economics (HE), Applied Economics, and Erasmus School of Health Policy & Management
- Subjects
Adult ,Time Factors ,Cost-Benefit Analysis ,Psychological intervention ,Choice Behavior ,03 medical and health sciences ,0302 clinical medicine ,Spillover effect ,Monetary value ,Health care ,Economics ,Humans ,030212 general & internal medicine ,Utility model ,Valuation (finance) ,Multinomial logistic regression ,Pharmacology ,Actuarial science ,Operationalization ,business.industry ,030503 health policy & services ,Health Policy ,Public Health, Environmental and Occupational Health ,Logistic Models ,Caregivers ,Research Design ,Patient Care ,0305 other medical science ,business - Abstract
Background Interventions in health care often not only have an efect on patients, but also on their informal caregivers.Caregiving can have a profound impact on the health and wellbeing of carers. Ignoring these spillovers in economic evaluations risks labelling interventions mistakenly as cost-efective, at the expense of informal caregivers.Objective This paper investigates willingness-to-accept (WTA) values for an hour of informal care, corrected for positiveand negative impacts of informal care, to facilitate the inclusion of informal care hours on the cost side of economic evaluations without double-counting spillover efects.Methods A discrete choice experiment (DCE) was conducted among a representative sample of the adult population in theNetherlands (n=552) in September 2011. An experimental design minimizing the D-error was used to construct choicesets with two unlabelled alternatives with the attributes ‘hours caregiving’, ‘monetary compensation for caregiving’ andseven impacts of caregiving. To operationalize the random utility model, we used a panel mixed multinomial logit (MMNL)parameter model. For calculation of WTA, we used both population-level parameters and individual-level parameters.Results The mean WTA for an additional hour of informal care, corrected for positive and negative impacts of informal care,was €14.57. The signs of the coefcients were all in the expected directions.Conclusions This study reports a preference-based monetary value for informal care, corrected for other impacts. This valuation facilitates the inclusion of informal care hours on the cost side in economic evaluations without double-counting anyspillover efects included on the efects side.
- Published
- 2019
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