A Cost–Benefit Analysis of COVID-19 Vaccination in Catalonia

(1) Background: In epidemiological terms, it has been possible to calculate the savings in health resources and the reduction in the health effects of COVID vaccines. Conducting an economic evaluation, some studies have estimated its cost-effectiveness; the vaccination shows highly favorable results, cost-saving in some cases. (2) Methods: Cost–benefit analysis of the vaccination campaign in the North Metropolitan Health Region (Catalonia). An epidemiological model based on observational data and before and after comparison is used. The information on the doses used and the assigned resources (conventional hospital beds, ICU, number of tests) was extracted from administrative data from the largest primary care provider in the region (Catalan Institute of Health). A distinction was made between the social perspective and the health system. (3) Results: the costs of vaccination are estimated at 137 million euros (€48.05/dose administered). This figure is significantly lower than the positive impacts of the vaccination campaign, which are estimated at 470 million euros (€164/dose administered). Of these, 18% corresponds to the reduction in ICU discharges, 16% to the reduction in conventional hospital discharges, 5% to the reduction in PCR tests and 1% to the reduction in RAT tests. The monetization of deaths and cases that avoid sequelae account for 53% and 5% of total savings, respectively. The benefit/cost ratio is estimated at 3.4 from a social perspective and 1.4 from a health system perspective. The social benefits of vaccination are estimated at €116.67 per vaccine dose (€19.93 from the perspective of the health system). (4) Conclusions: The mass vaccination campaign against COVID is cost-saving. From a social perspective, most of these savings come from the monetization of the reduction in mortality and cases with sequelae, although the intervention is equally widely cost-effective from the health system perspective thanks to the reduction in the use of resources. It is concluded that, from an economic perspective, the vaccination campaign has high social returns.

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A Cost-Benefit Analysis of COVID-19 Vaccination in Catalonia

10.20944/preprints202111.0435.v1 ◽

2021 ◽

Author(s):

Francesc López ◽

Martí Català ◽

Clara Prats ◽

Oriol Estrada ◽

Irene Oliva ◽

...

Keyword(s):

Cost Saving ◽

Health System ◽

Cost Benefit Analysis ◽

Vaccination Campaign ◽

Cost Benefit ◽

Point Of View ◽

Benefit Analysis ◽

Social Perspective ◽

System Perspective ◽

The Social

(1) Background: in epidemiological terms, it has been possible to calculate the savings in health resources and the reduction in health effects of COVID vaccines. From the point of view of economic evaluation, some studies have estimated its cost-effectiveness with the vaccination showing highly favorable results, which in some cases is cost-saving; (2) Methods: a cost-benefit analysis of the vaccination campaign in the North Metropolitan Health Region (Catalonia). An epidemiological model based on observational data and before and after comparison is used. The information on the doses used and the resources assigned (conventional hospital beds, ICU, number of tests) has been extracted from administrative data from the largest Primary Care provider in the region (Catalan Institute of Health). A distinction is made between the social perspective and the health system; (3) Results: the costs of vaccination are estimated at 137 million euros (€48.05/dose administered). This figure is significantly lower than the positive impacts of the vaccination campaign, which are estimated at 470 million euros (€164/dose administered). Of these, 18% corresponds to the reduction of ICU discharges, 16% to the reduction in conventional hospital discharges, 5% to the reduction in PCR tests and 1% to the reduction of RAT tests. Monetization of deaths and cases with sequelae avoided account for 53% and 5% of total savings, respectively. The benefit/cost ratio is estimated at 3.4 from a social perspective and 1.2 from a health system perspective. The social benefits of vaccination are estimated at €116.67 per dose of vaccine given (€19.93 from the point of view of the health system); (4) Conclusions: the mass vaccination campaign against COVID is cost-saving. From a social perspective, most of these savings come from the monetization of the reduction in mortality and cases with sequelae, although the intervention is equally widely cost-effective from the point of view of the health system thanks to the reduction in the use of resources. It is concluded that, from an economic perspective, the vaccination campaign has high social returns.

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A Cost-Benefit Analysis of COVID-19 Vaccination in Catalonia

10.20944/preprints202111.0435.v2 ◽

2021 ◽

Author(s):

Francesc López ◽

Martí Català ◽

Clara Prats ◽

Oriol Estrada ◽

Irene Oliva ◽

...

Keyword(s):

Cost Saving ◽

Health System ◽

Cost Benefit Analysis ◽

Vaccination Campaign ◽

Cost Benefit ◽

Point Of View ◽

Benefit Analysis ◽

Social Perspective ◽

System Perspective ◽

The Social

(1) Background: in epidemiological terms, it has been possible to calculate the savings in health resources and the reduction in health effects of COVID vaccines. From the point of view of economic evaluation, some studies have estimated its cost-effectiveness with the vaccination showing highly favorable results, which in some cases is cost-saving; (2) Methods: a cost-benefit analysis of the vaccination campaign in the North Metropolitan Health Region (Catalonia). An epidemiological model based on observational data and before and after comparison is used. The information on the doses used and the resources assigned (conventional hospital beds, ICU, number of tests) has been extracted from administrative data from the largest Primary Care provider in the region (Catalan Institute of Health). A distinction is made between the social perspective and the health system; (3) Results: the costs of vaccination are estimated at 137 million euros (€48.05/dose administered). This figure is significantly lower than the positive impacts of the vaccination campaign, which are estimated at 470 million euros (€164/dose administered). Of these, 18% corresponds to the reduction of ICU discharges, 16% to the reduction in conventional hospital discharges, 5% to the reduction in PCR tests and 1% to the reduction of RAT tests. Monetization of deaths and cases with sequelae avoided account for 53% and 5% of total savings, respectively. The benefit/cost ratio is estimated at 3.4 from a social perspective and 1.41 from a health system perspective. The social benefits of vaccination are estimated at €116.67 per dose of vaccine given (€19.93 from the point of view of the health system); (4) Conclusions: the mass vaccination campaign against COVID is cost-saving. From a social perspective, most of these savings come from the monetization of the reduction in mortality and cases with sequelae, although the intervention is equally widely cost-effective from the point of view of the health system thanks to the reduction in the use of resources. It is concluded that, from an economic perspective, the vaccination campaign has high social returns.

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Cost-benefit analysis targets ADEs for cost-saving interventions

PharmacoEconomics & Outcomes News ◽

10.1007/bf03270178 ◽

1996 ◽

Vol 73 (1) ◽

pp. 2-2

Keyword(s):

Cost Saving ◽

Cost Benefit Analysis ◽

Cost Benefit ◽

Benefit Analysis

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The social valuation of income: a survey approach

Journal of Economic Studies ◽

10.1108/jes-01-2013-0011 ◽

2014 ◽

Vol 41 (6) ◽

pp. 808-820 ◽

Cited By ~ 2

Author(s):

David John Evans ◽

Erhun Kula ◽

Yoko Nagase

Keyword(s):

Political Parties ◽

Cost Benefit Analysis ◽

Cost Benefit ◽

Statistical Testing ◽

Survey Method ◽

Benefit Analysis ◽

Content Type ◽

The Social ◽

Social Valuation ◽

Survey Approach

Purpose – The purpose of this paper is to estimate survey-based values of the elasticity of marginal social valuation of income, an important welfare parameter in cost-benefit analysis. Design/methodology/approach – A model relating equity welfare weights to income is developed, and iso-elasticity of marginal valuation of income is tested using survey data obtained from a sample of Turkish politicians who are instrumental in policy making. Findings – Based on the survey feedback, formal statistical testing indicates that Turkish politicians, regardless of party allegiance, reveal preferences consistent with an iso-elastic marginal social valuation of income. The estimated value of the elasticity measure is close to unity for each of the political parties. Originality/value – The originality of the paper is in terms of the survey method used to obtain from Turkish politicians estimates of the marginal social valuation of income. This welfare parameter is needed in the calculation of both social discount rates and welfare weights. The paper will be of interest to academics in the field of welfare economics as well as to practitioners involved in the appraisal of social projects and policies.

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Inclusion of Social Subsystem Issues in IT Investment Decisions

Advances in Information Resources Management - Advanced Topics in Information Resources Management, Volume 5 ◽

10.4018/978-1-59140-929-8.ch008 ◽

2011 ◽

pp. 164-183

Author(s):

Sherry D. Ryan ◽

Michael S. Gates

Keyword(s):

Survey Data ◽

Decision Process ◽

Cost Benefit Analysis ◽

Investment Decisions ◽

Cost Benefit ◽

Decision Makers ◽

Benefit Analysis ◽

Analysis Model ◽

Decision Criteria ◽

The Social

Researchers have attempted to augment the traditional cost/benefit analysis model used in the IT decision process. However, frequently social subsystem issues are inadequately considered. Survey data, collected from a U.S. sample of 200 executives, provides an empirical assessment of how these issues compare with other IT decision criteria given differing decision types. The social subsystem issues considered most important by decision makers are also identified and the manner by which they consider these issues is investigated.

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Environmental costs and their impact on the net present value of a hydro-electric project in Kerala, India

Environment and Development Economics ◽

10.1017/s1355770x0300160 ◽

2003 ◽

Vol 8 (2) ◽

pp. 311-330 ◽

Cited By ~ 1

Author(s):

V. Santhakumar ◽

Achin Chakraborty

Keyword(s):

Net Present Value ◽

Cost Benefit Analysis ◽

Cost Benefit ◽

Environmental Costs ◽

Benefit Analysis ◽

Costs And Benefits ◽

Net Benefit ◽

Pulp Industry ◽

The Social ◽

The Cost

This paper presents the operational procedures involved in incorporating the environmental costs in the cost–benefit analysis of a hydro-electric project. The proposed project, if implemented, would result in the loss of 2,800 hectares of tropical forests and dislocation of two settlements of about 200 families who are currently dependent on the forests for their livelihood. The forests are mainly used for extracting reed – a material used both by traditional artisans and the paper-pulp industry. The potential environmental costs and benefits of the project are identified and approximate estimates of some of these costs are made for items such as carbon sequestration, bio-diversity, and so on, based on similar estimates made elsewhere. These estimated environmental costs are incorporated into the analysis, and the hypothetical estimate of the non-use value, which would make the project's net benefit zero, is estimated under different discount rates. The analysis brings into sharp focus some crucial factors that have a direct bearing on the social trade-off involved in the project choice.

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Cost-Benefit Analysis and Social Welfare Functions

The Oxford Handbook of Ethics and Economics ◽

10.1093/oxfordhb/9780198793991.013.3 ◽

2019 ◽

pp. 397-422

Author(s):

Matthew D. Adler

Keyword(s):

Social Welfare ◽

Policy Analysis ◽

Moral Philosophy ◽

Social Welfare Function ◽

Cost Benefit Analysis ◽

Cost Benefit ◽

Well Being ◽

Benefit Analysis ◽

Important Policy ◽

The Social

This chapter describes and compares the two most important policy-analysis methodologies in economics: cost-benefit analysis (CBA) and the social-welfare-function (SWF) framework. Both approaches are consequentialist and welfarist; both are typically combined with a preference-based view of well-being. Despite these similarities, the two methodologies differ in significant ways. CBA translates well-being impacts into monetary equivalents, and ranks outcomes according to the sum total of monetary equivalents. By contrast, the SWF framework relies upon an interpersonally comparable measure of well-being. Each possible outcome is mapped onto a list (vector) of these well-being numbers, one for each person in the population; the ranking of outcomes, then, is driven by some rule (the SWF) for ranking these well-being vectors. The utilitarian SWF and the prioritarian family of SWFs (each corresponding to well-developed positions in moral philosophy) are especially plausible. The case for using CBA rather than one of these SWFs is weak—or so the chapter argues.

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Overview of the Economic and Social Impacts of Gambling in the United States

The Oxford Handbook of the Economics of Gambling ◽

10.1093/oxfordhb/9780199797912.013.0006 ◽

2013 ◽

pp. 107-128

Author(s):

Douglas M. Walker

Keyword(s):

Cost Benefit Analysis ◽

Cost Benefit ◽

The United States ◽

Social Impacts ◽

Casino Gambling ◽

Tax Revenue ◽

Benefit Analysis ◽

The Social ◽

Economic And Social Impacts ◽

Social Costs Of Gambling

This chapter provides an overview of empirical research on the economic and social impacts of gambling. Issues examined include the effects of casino gambling on economic growth; the relationships among gambling industries and the implications of these relationships on net government tax revenue; the social costs of gambling; casinos and crime; casinos and political corruption; and problems with cost-benefit analysis applied to gambling.

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