Applicability of discrete-choice methods to economic evaluations of complementary and alternative medicine

Author: Meenan, Richard T

Source: Expert Review of Pharmacoeconomics and Outcomes Research, Volume 5, Number 4, August 2005 , pp. 479-487(9)

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Abstract:

This review discusses the potential contributions of discrete-choice methods of stated preference assessment to future economic evaluations of complementary and alternative medicine. The manner in which some complementary and alternative medicine practitioners and researchers have framed the concept of therapeutic benefits including process-related benefits is first discussed. The mechanics of a discrete-choice exercise including assessment of health state utilities and willingness to pay are then described. Potential limitations of the discrete-choice method are discussed. This review concludes with a discussion of future research opportunities. The author suggests that discrete-choice methods may be integrated into economic evaluations through the benefit assessment process, particularly within the complementary and alternative medicine context.

Keywords: CAM; complementary medicine; conjoint analysis; cost–benefit; cost–effectiveness; discrete choice; economic evaluation

Document Type: Research article

DOI: http://dx.doi.org/10.1586/14737167.5.4.479

Publication date: 2005-08-01

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Expert Review of Pharmacoeconomics & Outcomes Research provides expert commentary on cost-benefit and pharmacoeconomic issues relating to the clinical use of drugs and therapeutic approaches. Coverage includes pharmacoeconomics and quality-of-life research, therapeutic outcomes, evidence-based medicine and cost-benefit research.
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