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Cost–Benefit Analysis and Health Care Evaluations, Second Edition

Robert J. Brent, Professor of Economics, Fordham University, New York, US
Cost–benefit analysis is the only method of economic evaluation that can effectively indicate whether a health care treatment or intervention is worthwhile. In this thoroughly updated and revised second edition, Robert Brent expands the scope of the field by including the latest concepts and applications throughout all regions of the world. This book attempts to strengthen the link between cost–benefit analysis and the mainstream health care evaluation field, which is dominated by non-economists. The need to build a bridge between the two is more important than ever before, as the general understanding of cost-benefit analysis appears to have regressed.
Extent: 512 pp
Hardback Price: $180.00 Web: $162.00
Publication Date: 2015
ISBN: 978 1 78100 458 6
Availability: In Stock
Paperback Price: $65.00 Web: $52.00
Publication Date: 2016
ISBN: 978 1 78347 772 2
Availability: In Stock
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  • Economics and Finance
  • Health Policy and Economics
  • Valuation
  • Environment
  • Valuation
  • Social Policy and Sociology
  • Health Policy and Economics
Cost–benefit analysis is the only method of economic evaluation that can effectively indicate whether a health care treatment or intervention is worthwhile. In this thoroughly updated and revised second edition, Robert Brent expands the scope of the field by including the latest concepts and applications throughout all regions of the world. This book attempts to strengthen the link between cost–benefit analysis and the mainstream health care evaluation field, which is dominated by non-economists. The need to build a bridge between the two is more important than ever before, as the general understanding of cost–benefit analysis appears to have regressed.

Case studies are used throughout to explain and illustrate the various methodologies being examined. In addition, the author now covers more of the statistical requirements that are necessary to understand and carry out health care evaluations, and follows an applied economics approach. Ultimately, he resolves a number of disputes and makes some new, but subtle, contributions by reinterpreting, correcting and extending existing work. The book covers the topic in an accessible manner, from the foundations to the frontiers of the field, and clearly explains all the necessary economic principles along the way.

Cost–Benefit Analysis and Health Care Evaluations, Second Edition will be invaluable to students and researchers of health economics, public policy and health care policy, as well as policymakers and health care practitioners. It can also be used as a comprehensive introductory text by anyone with an interest in cost–benefit analysis. From this perspective, the new additional final chapter is particularly useful as it supplies a summary of CBA that highlights the main conclusions of the text in a single chapter.
Acclaim for the first edition:

‘Professor Brent’s book is a superb and much-needed text in the field of health care evaluation. The economic approaches for appraisal of health care programs are presented with greater clarity than any other available text. A comprehensive review of cost-minimization, cost-effectiveness analysis, cost–utility analysis, and cost–benefit analysis is given in a simple and yet very insightful manner that pointedly demonstrates their fundamental principles, methodological requirements, and common linkages for evaluation research. The book skilfully merges theory and application of the economic analyses of health care, combining the latest literature with adroit illustrations of required methodologies and easily understandable examples that inform the reader of how empirical evaluation research should be conducted. Major evaluation concerns about the appropriateness of discounting health benefits, the appropriate discount (interest) rate, and intangible benefits and costs are critically appraised. Not only is the criterion of economic efficiency of health care programs explored directly and with lucidity, but the important social question of the equity of health interventions is also assessed straightforwardly. Students of health care as well as health policy analysts and administrators are provided with a considerable solid foundation for undertaking evaluation of complex health care issues. In short, Professor Brent has even made the economics of health care evaluation accessible to non-economists in the health care field.’
– Paul L. Solano, University of Delaware, US
Contents: 1. Introduction to Health Care Evaluation 2. Cost Minimization and the Definition of ‘Cost’ 3. Types of Costs and their Measurement 4. External Costs 5. Social Cost of Taxation 6. Fundamentals of Cost-effectiveness Aanalysis 7. Further Issues of Cost-effectiveness Analysis 8. Fundamentals of Cost–utility Analysis 9. Measuring Utilities in Cost–utility Analysis 10. Cost–utility Analysis and Equity 11. Cost–benefit Analysis and the Human Capital Approach 12. Cost–benefit Analysis and Willingness to Pay 13. Cost–benefit Analysis and Equity 14. Methods for Measuring the Benefits of HIV/AIDS Interventions Index