Medical costs in patients with heart failure after acute heart failure events: one-year follow-up study

Aims: This study investigated annual medical costs using real-world data focusing on acute heart failure.

Methods: The data were retrospectively collected from six tertiary hospitals in South Korea. Overall, 330 patients who were hospitalized for acute heart failure between January 2011 and July 2012 were selected. Data were collected on their follow-up medical visits for 1 year, including medical costs incurred toward treatment. Those who died within the observational period or who had no records of follow-up visits were excluded. Annual per patient medical costs were estimated according to the type of medical services, and factors contributing to the costs using Gamma Generalized Linear Models (GLM) with log link were analyzed.

Results: On average, total annual medical costs for each patient were USD 6,199 (±9,675), with hospitalization accounting for 95% of the total expenses. Hospitalization cost USD 5,904 (±9,666) per patient. Those who are re-admitted have 88.5% higher medical expenditure than those who have not been re-admitted in 1 year, and patients using intensive care units have 19.6% higher expenditure than those who do not. When the number of hospital days increased by 1?day, medical expenses increased by 6.7%.

Limitations: Outpatient drug costs were not included. There is a possibility that medical expenses for AHF may have been under-estimated.

Conclusion: It was found that hospitalization resulted in substantial costs for treatment of heart failure in South Korea, especially in patients with an acute heart failure event. Prevention strategies and appropriate management programs that would reduce both frequency of hospitalization and length of stay for patients with the underlying risk of heart failure are needed.     

The experience sampling method: examining its use and potential in tourist experience research

Though a valid and widely used approach in leisure, recreation, and psychology, the experience sampling method (ESM) is rarely used in tourism studies as a way to collect data on immediate conscious experiences during tourist events. This paper examines the use of ESM as it relates to tourist experience research. We begin by introducing ESM before exploring the application of this method to emerging smartphone technology. We then introduce a research approach, which incorporates the use of a digital ESM modified to act as a predominantly qualitative procedure, using voice recording software, to study the experience of educational tourists in Peru. The data gathered using this approach are analysed to examine the application and operational aspects of ESM. We consider the methodological implications of this research method by presenting findings on the length of qualitative discussions, reported mood, qualitative content related to ESM procedures, and post-trip recollection of ESM. The discussion that follows focuses on evidence of participant burden, reactivity, and anthropomorphism related to the use of smartphones as data collection tools. This paper concludes by outlining future research areas, with specific reference to spatial aspects, affect, and smartphone use, which expand the potential of ESM in tourist experience studies.     

“Unprecedented,” “extraordinary,” and “we're all in this together”: Does advertising really need to be so tedious in challenging times?

As government-mandated lockdowns and steep declines in trade set in because of the COVID-19 pandemic, a common theme became apparent in the advertising of the time: It was all the same. Regardless of the product category or brand personality, many ads were remarkably similar. They began with melancholy music, voiceovers reminding the audience that the brand is here for them, and referred to these times as “unprecedented” and “extraordinary.” Ads reassured viewers that “together, we can get through this.” In this installment of Marketing & Technology, we articulate the problem of advertising sameness and explore how and why it likely arises during a time of crisis. We then discuss why advertising uniformity is a problem and present a series of strategic, media, and creative considerations—taking into account the constraints of a crisis— to help marketing professionals produce more effective advertising in the context of a disaster.     

Forecasting the Australian economy with DSGE and BVAR models

Reflecting the importance of commodities for the Australian economy, we construct a dynamic stochastic general equilibrium (DSGE) model of the Australian economy with a commodity sector. We assess whether its forecasts can be improved by using it as a prior for an empirical Bayesian vector autoregression (BVAR). We find that the forecasts from the BVAR tend to be more accurate than those from the DSGE model. Nevertheless, for output growth these forecasts do not outperform benchmark models, such as a small open economy BVAR estimated using the standard priors for forecasting. A Bayesian factor augmented vector autoregression produces the most accurate near-term inflation forecasts.     

Benchmarks in the spotlight: The impact on exchange traded markets

The Fix for precious metals is a global pricing benchmark that provides pricing and liquidity provision for market participants. We exploit the gradual change in the century old auction process to quantify the efficiencies related to more transparent pricing. Our focus is in the market impact of this change on exchange listed products. We find that reforms to the Fix have reduced quoted and effective bid-ask spreads and improved overall market depth. The results imply a positive spillover effect stemming from timelier and more accurate pricing information. The conditions under which we observe the benefits from transparency are related to product liquidity and the degree of market segmentation.     

Coordinating under incomplete information

We show that, in a minimum effort game with incomplete information where player types are independently drawn, there is a largest and smallest Bayesian equilibrium, leading to the set of equilibrium payoffs (as evaluated at the interim stage) having a lattice structure. Furthermore, the range of equilibrium payoffs converges to those of the deterministic complete information version of the game, in the limit as the incomplete information vanishes. This entails that such incomplete information alone cannot explain the equilibrium selection suggested by experimental evidence. We thank Atila Abdulkadiroglu, Hans Carlsson, Ani Guerdjikova and an anonymous referee for helpful comments. Part of this work was done while Asheim was visiting Cornell University, which hospitality is gratefully acknowledged.     

Ireland's Experiments with Pseudo-Keynesianism

How stands the Irish economy? Sean Barrett of Trinity College, Dublin examines the economic problems facing Mr Haughey's government.     

Aviation and the Pursuit of Contestability

Pro-contestability policies are required to promote efficient airlines. The problem is acute in Europe where protectionist policies have led to high-fare, low-profit, low-productivity airlines and a steady loss of market than of world aviation to the low-cost profitable airlines of the Asia-Pacific region.