A Contingent Valuation Study for Eliciting a Monetary Value of a Quality-Adjusted Life-Year in the General Greek Population

Mavrodi, Afentoula; Aletras, Vassilis

doi:10.1016/j.vhri.2020.03.002

Cited by 4 publications

(6 citation statements)

References 44 publications

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“…The survey tool developed for this research followed the design of the questionnaire described in a previous study 11 and consisted of 4 parts: (i) assessment of current health state using EuroQoL-5D-3L 5,12,30 ; (ii) WTP elicitation; (iii) assessment of healthcare services provision; and (iv) demographic/ socioeconomic characteristics.…”

Section: Survey Toolmentioning

confidence: 99%

“…Starting from the minimum (maximum) bid, if respondents replied positively (negatively), the payment was doubled (halved) until they were unwilling (willing) to pay the specified amount. 9,11,[33][34][35][36] The maximum bid offered was set at 10 times the monthly net national disposable income of the year of study (€13 991), without though exceeding it; 37 an approach followed by researchers in similar studies. 9,11,34,35 Finally, participants had to respond to a 0 to 10 certainty scale (0 referring to no certainty and 10 to extreme certainty) with respect to the WTP amount they provided.…”

Section: Survey Toolmentioning

confidence: 99%

“…9,11,[33][34][35][36] The maximum bid offered was set at 10 times the monthly net national disposable income of the year of study (€13 991), without though exceeding it; 37 an approach followed by researchers in similar studies. 9,11,34,35 Finally, participants had to respond to a 0 to 10 certainty scale (0 referring to no certainty and 10 to extreme certainty) with respect to the WTP amount they provided. 4,10 Respondents' overall satisfaction from healthcare services provision was examined through a 0 to 10 satisfaction scale (0 referring to extremely dissatisfied and 10 to extremely satisfied).…”

Section: Survey Toolmentioning

confidence: 99%

“…Many CV studies have found that individuals’ demographic and socioeconomic characteristics 4 , 5 , 8 - 16 have an impact on WTP values. Nevertheless, research on the impact of the above factors on the likelihood of an individual having a positive (non-zero) WTP for a treatment is rather limited.…”

Section: Introductionmentioning

confidence: 99%

“…Specifically, respondents in CV studies are asked to consider a scenario for a hypothetical treatment and state their maximum willingness-to-pay (WTP) to ensure the health improvement offered by this treatment. [3][4][5][6][7][8][9] Many CV studies have found that individuals' demographic and socioeconomic characteristics 4,5,[8][9][10][11][12][13][14][15][16] have an impact on WTP values. Nevertheless, research on the impact of the above factors on the likelihood of an individual having a positive (non-zero) WTP for a treatment is rather limited.…”

Section: Introductionmentioning

confidence: 99%

See 4 more Smart Citations

Examining Willingness-to-Pay and Zero Valuations for a Health Improvement with Logistic Regression

Mavrodi

Chatzopoulos

Aletras

2021

INQUIRY

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Study aim was to elicit the Greek general population’s willingness-to-pay (WTP) for a health improvement (recovery to perfect health), examine attitudinal differences between willing- and unwilling-to-pay individuals regarding healthcare services provision, and investigate —using a logistic regression model—demographic/socioeconomic factors impact on their intention to pay for a health improvement. A research tool was developed to conduct a cross-sectional stated-preference telephone-based survey (January-February 2019) and a representative sample (n = 1342) of the Greek general population was queried. The computer-assisted telephone-interview (CATI) method was used to ensure random sampling. WTP was elicited using the iterative bidding technique. Participants’ attitudes toward healthcare services provision were assessed through pre-defined statements. Test-retest reliability of these statements was assessed using intraclass correlation coefficients (ICC). Logistic regression was employed to identify sociodemographic factors’ effect on WTP intention. Differences among individuals’ attitudes were assessed using the chi-square test. All analyses were conducted using the IBM SPSS Software v.25.0. Analysis showed acceptable reliability for WTP estimates (ICC = .67) and good reliability for healthcare services assessment statements (ICC = .83-.94). Mean WTP was estimated at €439.8. Respondents with higher educational level and higher household income were more likely to be willing to pay for a health improvement. On the contrary, older participants were less likely to be willing to pay. Most participants who considered public healthcare services to be of high quality were unwilling to pay. Logistic regression analysis led to the development of an effective predictive model regarding factors affecting individuals’ WTP intention for a health improvement. Further classification of unwilling-to-pay individuals into protest responders and “true” zero valuators showed that protest responders are unlikely to be representative of the population. Hence, study results can be used for debiasing WTP responses, leading to a more accurate use of WTP estimates by policy makers, exploiting WTP values in medical interventions cost-benefit analysis within reimbursement decisions framework.

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Section: Survey Toolmentioning

confidence: 99%

Section: Survey Toolmentioning

confidence: 99%

Section: Survey Toolmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

See 3 more Smart Citations

Examining Willingness-to-Pay and Zero Valuations for a Health Improvement with Logistic Regression

Mavrodi

Chatzopoulos

Aletras

2021

INQUIRY

View full text Add to dashboard Cite

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Estimating a cost-effectiveness threshold for healthcare decision-making in the Greek NHS

Athanasakis,

Agorastos,

Kyriopoulos

2024

Health Policy and Technology

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Estimating the range of incremental cost-effectiveness thresholds for healthcare based on willingness to pay and GDP per capita: A systematic review

2022

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Background Decision-making in healthcare policy involves assessing both costs and benefits. In determining the cost-effectiveness (CE) threshold, willingness to pay (WTP) per quality-adjusted life year (QALY), GDP per capita, and other factors are important. However, the relationship between WTP/QALY or GDP per capita and the CE threshold is unclear. It is important to clarify the relationship between WTP/QALY and GDP to provide a clear basis for setting the CE threshold. Objective The purpose of this study was to compare WTP/QALY and GDP per capita, and to develop a new CE threshold range based on WTP using GDP per capita. The relationship between WTP/QALY and healthy life expectancy (HALE) was also investigated. Methods We searched MEDLINE, EMBASE and Web of Science from 1980/01/01 to 2020/12/31 using the following selection criteria (latest search: Dec 2021):1, studies that estimated WTP/QALY; 2, the general population was surveyed; 3, the article was in English. From the collected articles, we obtained average values of WTP/QALY for various countries and compared WTP/QALY with GDP per capita. The correlation between WTP/QALY and HALE was also examined. Results We identified 20 papers from 17 countries. Comparison of mean WTP/QALY values with GDP per capita showed that most WTP/QALY values were in the range of 0.5–1.5 times GDP per capita, though the median values were less than 0.5 times. Comparison of WTP/QALY with HALE showed a statistically significant positive correlation when Taiwan was excluded as an outlier. Conclusions Our results suggest a CE threshold range of 0.5–1.5 times GDP per capita is appropriate but lower than the WHO-recommended range of 1–3 times. The correlation between WTP/QALY and HALE suggests that investment in healthcare is reflected in an increased healthy life expectancy. Since WTP is based on consumer preferences, this range could be used to set a generally acceptable criterion.

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A Contingent Valuation Study for Eliciting a Monetary Value of a Quality-Adjusted Life-Year in the General Greek Population

Cited by 4 publications

References 44 publications

Examining Willingness-to-Pay and Zero Valuations for a Health Improvement with Logistic Regression

Examining Willingness-to-Pay and Zero Valuations for a Health Improvement with Logistic Regression

Estimating a cost-effectiveness threshold for healthcare decision-making in the Greek NHS

Estimating the range of incremental cost-effectiveness thresholds for healthcare based on willingness to pay and GDP per capita: A systematic review

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