학술논문

The well-being valuation model: a method for monetizing the nonmarket good of individual well-being.
Document Type
Article
Source
Health Services & Outcomes Research Methodology. Mar2017, Vol. 17 Issue 1, p84-100. 17p.
Subject
*MEDICAL care costs
*COST control
*ECONOMIC aspects of diseases
*EMPLOYMENT
*HEALTH promotion
*INSURANCE companies
*MATHEMATICAL models
*LOGISTIC regression analysis
*THEORY
*WELL-being
*DISEASE incidence
*RETROSPECTIVE studies
*DESCRIPTIVE statistics
*ECONOMICS
Language
ISSN
1387-3741
Abstract
The objective of this research is to advance the evaluation and monetization of well-being improvement programs, offered by population health management companies, by presenting a novel method that robustly monetizes the entirety of well-being improvement within a population. This was achieved by utilizing two employers' well-being assessments with medical and pharmacy administrative claims (2010-2011) across a large national employer ( n = 50,647) and regional employer ( n = 6170) data sets. This retrospective study sought to monetize both direct and indirect value of well-being improvement across a population whose medical costs are covered by an employer, insurer, and/or government entity. Logistic regression models were employed to estimate disease incidence rates and input-output modelling was used to measure indirect effects of well-being improvement. These methodological components removed the burden of specifying an exhaustive number of regression models, which would be difficult in small populations. Members who improved their well-being were less likely to become diseased. This reduction saved, per avoided occurrence, US$3060 of total annual health care costs. Of the members who were diseased, improvement in well-being equated to annual savings of US$62 while non-diseased members saved US$26. The method established here demonstrates the linkage between improved well-being and improved outcomes while maintaining applicability in varying populations. [ABSTRACT FROM AUTHOR]