Estimating the marginal cost of a life year in Sweden's public healthcare sector

The European Journal of Health Economics : HEPAC : Health Economics in Prevention and Care
Jonathan Siverskog, Martin Henriksson

Abstract

Although cost-effectiveness analysis has a long tradition of supporting healthcare decision-making in Sweden, there are no clear criteria for when an intervention is considered too expensive. In particular, the opportunity cost of healthcare resource use in terms of health forgone has not been investigated empirically. In this work, we therefore seek to estimate the marginal cost of a life year in Sweden's public healthcare sector using time series and panel data at the national and regional levels, respectively. We find that estimation using time series is unfeasible due to reversed causality. However, through panel instrumental variable estimation we are able to derive a marginal cost per life year of about SEK 370,000 (EUR 39,000). Although this estimate is in line with emerging evidence from other healthcare systems, it is associated with uncertainty, primarily due to the inherent difficulties of causal inference using aggregate observational data. The implications of these difficulties and related methodological issues are discussed.

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Citations

Mar 17, 2020·Medical Decision Making : an International Journal of the Society for Medical Decision Making·Jonathan Siverskog, Martin Henriksson
Sep 22, 2020·Expert Review of Pharmacoeconomics & Outcomes Research·Jessica OchalekKimberly M Thompson
Oct 7, 2020·Diabetes Therapy : Research, Treatment and Education of Diabetes and Related Disorders·Lars BernfortLars-Åke Levin
Jan 26, 2021·International Journal of Technology Assessment in Health Care·Jonathan Siverskog, Martin Henriksson
Feb 1, 2021·PharmacoEconomics·Mike Paulden, Christopher McCabe
Jun 5, 2021·Health Services Research·Peter J NeumannJoshua T Cohen
Jul 22, 2021·Applied Health Economics and Health Policy·Stephen MartinFrancesco Longo
Dec 8, 2021·Health Policy and Planning·Oscar EspinosaMateo Ceballos

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Software Mentioned

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