1. Cost-Effectiveness in Individual Development Accounts
- Author
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Schreiner, Mark, Ng, Guat Tin, and Sherraden, Michael
- Abstract
Because resources are limited, the benefits and costs of social-work interventions--like all interventions--must be compared with the benefits and costs of alternatives. Evidence-based practice should ask, What works? How well does it work? And what does it cost? This article analyzes the provision of Individual Development Accounts (IDAs) with a new cost-effectiveness framework meant to help make assumptions and judgments explicit. In the specific IDA program examined, 1 month of services for 1 participant costs about $64. The mere existence of a cost figure--regardless of whether it is seen as high or low--has sparked many questions in the IDA community: How can costs be reduced without sacrificing quality? Which features of IDAs are essential? Are IDAs worth it? This sort of healthy questioning is precisely the purpose of cost-effectiveness analysis in social-work practice.
- Published
- 2006
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