THE ECONOMIC VALUE OF PREVENTING RESPIRATORY AND CARDIOVASCULAR HOSPITALIZATIONS |
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| Authors: | LAURAINE G CHESTNUT MARK A THAYER JEFFREY K LAZO STEPHEN K VAN DEN EEDEN |
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| Institution: | Chestnut:;Managing Economist, Stratus Consulting, P.O. Box 4059, Boulder, CO 80306. Phone 1-303-381-8000, Fax 1-303-381-8200, E-mail Thayer:;Professor of Economics, Department of Economics, San Diego State University, San Diego, CA 92182. Phone 1-619-594-5510, Fax 1-619-594-5062, E-mail Lazo:;Director of the Societal Impacts Program, National Center for Atmospheric Research, P.O. Box 3000, Boulder, CO 80307. Phone 1-303-497-2857, Fax 1-303-497-8401, E-mail Van Den Eeden:;Research Scientist, Northern California Kaiser Permanente, 2000 Broadway, Oakland, CA 94612. Phone 1-510-891-3718, Fax 1-510-891-3761, E-mail |
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| Abstract: | This article provides estimates of the economic benefits of reducing respiratory and cardiovascular hospitalizations based on cost of illness and willingness to pay. The willingness-to-pay estimates indicate that individuals value prevention of a five-day hospitalization event at an average of approximately $2,400. Average total costs of illness per hospitalization are $22,000–39,000. A comprehensive cost-of-illness estimate that includes value of time losses for the hospitalization and at-home recovery periods provides a close approximation of total costs borne by third parties plus individual willingness to pay. Both exceed previous cost-of-illness estimates by about 10–25%. (JEL D61, I18, Q25 ) |
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