Cargando…

The well-being valuation model: a method for monetizing the nonmarket good of individual well-being

The objective of this research is to advance the evaluation and monetization of well-being improvement programs, offered by population health management companies, by presenting a novel method that robustly monetizes the entirety of well-being improvement within a population. This was achieved by ut...

Descripción completa

Detalles Bibliográficos
Autores principales: Sidney, James A., Jones, Ashlin, Coberley, Carter, Pope, James E., Wells, Aaron
Formato: Online Artículo Texto
Lenguaje:English
Publicado: Springer US 2016
Materias:
Acceso en línea:https://www.ncbi.nlm.nih.gov/pmc/articles/PMC5306175/
https://www.ncbi.nlm.nih.gov/pubmed/28239262
http://dx.doi.org/10.1007/s10742-016-0161-9
_version_ 1782507145018736640
author Sidney, James A.
Jones, Ashlin
Coberley, Carter
Pope, James E.
Wells, Aaron
author_facet Sidney, James A.
Jones, Ashlin
Coberley, Carter
Pope, James E.
Wells, Aaron
author_sort Sidney, James A.
collection PubMed
description The objective of this research is to advance the evaluation and monetization of well-being improvement programs, offered by population health management companies, by presenting a novel method that robustly monetizes the entirety of well-being improvement within a population. This was achieved by utilizing two employers’ well-being assessments with medical and pharmacy administrative claims (2010–2011) across a large national employer (n = 50,647) and regional employer (n = 6170) data sets. This retrospective study sought to monetize both direct and indirect value of well-being improvement across a population whose medical costs are covered by an employer, insurer, and/or government entity. Logistic regression models were employed to estimate disease incidence rates and input–output modelling was used to measure indirect effects of well-being improvement. These methodological components removed the burden of specifying an exhaustive number of regression models, which would be difficult in small populations. Members who improved their well-being were less likely to become diseased. This reduction saved, per avoided occurrence, US$3060 of total annual health care costs. Of the members who were diseased, improvement in well-being equated to annual savings of US$62 while non-diseased members saved US$26. The method established here demonstrates the linkage between improved well-being and improved outcomes while maintaining applicability in varying populations.
format Online
Article
Text
id pubmed-5306175
institution National Center for Biotechnology Information
language English
publishDate 2016
publisher Springer US
record_format MEDLINE/PubMed
spelling pubmed-53061752017-02-24 The well-being valuation model: a method for monetizing the nonmarket good of individual well-being Sidney, James A. Jones, Ashlin Coberley, Carter Pope, James E. Wells, Aaron Health Serv Outcomes Res Methodol Article The objective of this research is to advance the evaluation and monetization of well-being improvement programs, offered by population health management companies, by presenting a novel method that robustly monetizes the entirety of well-being improvement within a population. This was achieved by utilizing two employers’ well-being assessments with medical and pharmacy administrative claims (2010–2011) across a large national employer (n = 50,647) and regional employer (n = 6170) data sets. This retrospective study sought to monetize both direct and indirect value of well-being improvement across a population whose medical costs are covered by an employer, insurer, and/or government entity. Logistic regression models were employed to estimate disease incidence rates and input–output modelling was used to measure indirect effects of well-being improvement. These methodological components removed the burden of specifying an exhaustive number of regression models, which would be difficult in small populations. Members who improved their well-being were less likely to become diseased. This reduction saved, per avoided occurrence, US$3060 of total annual health care costs. Of the members who were diseased, improvement in well-being equated to annual savings of US$62 while non-diseased members saved US$26. The method established here demonstrates the linkage between improved well-being and improved outcomes while maintaining applicability in varying populations. Springer US 2016-10-25 2017 /pmc/articles/PMC5306175/ /pubmed/28239262 http://dx.doi.org/10.1007/s10742-016-0161-9 Text en © The Author(s) 2016 Open AccessThis article is distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution, and reproduction in any medium, provided you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license, and indicate if changes were made.
spellingShingle Article
Sidney, James A.
Jones, Ashlin
Coberley, Carter
Pope, James E.
Wells, Aaron
The well-being valuation model: a method for monetizing the nonmarket good of individual well-being
title The well-being valuation model: a method for monetizing the nonmarket good of individual well-being
title_full The well-being valuation model: a method for monetizing the nonmarket good of individual well-being
title_fullStr The well-being valuation model: a method for monetizing the nonmarket good of individual well-being
title_full_unstemmed The well-being valuation model: a method for monetizing the nonmarket good of individual well-being
title_short The well-being valuation model: a method for monetizing the nonmarket good of individual well-being
title_sort well-being valuation model: a method for monetizing the nonmarket good of individual well-being
topic Article
url https://www.ncbi.nlm.nih.gov/pmc/articles/PMC5306175/
https://www.ncbi.nlm.nih.gov/pubmed/28239262
http://dx.doi.org/10.1007/s10742-016-0161-9
work_keys_str_mv AT sidneyjamesa thewellbeingvaluationmodelamethodformonetizingthenonmarketgoodofindividualwellbeing
AT jonesashlin thewellbeingvaluationmodelamethodformonetizingthenonmarketgoodofindividualwellbeing
AT coberleycarter thewellbeingvaluationmodelamethodformonetizingthenonmarketgoodofindividualwellbeing
AT popejamese thewellbeingvaluationmodelamethodformonetizingthenonmarketgoodofindividualwellbeing
AT wellsaaron thewellbeingvaluationmodelamethodformonetizingthenonmarketgoodofindividualwellbeing
AT sidneyjamesa wellbeingvaluationmodelamethodformonetizingthenonmarketgoodofindividualwellbeing
AT jonesashlin wellbeingvaluationmodelamethodformonetizingthenonmarketgoodofindividualwellbeing
AT coberleycarter wellbeingvaluationmodelamethodformonetizingthenonmarketgoodofindividualwellbeing
AT popejamese wellbeingvaluationmodelamethodformonetizingthenonmarketgoodofindividualwellbeing
AT wellsaaron wellbeingvaluationmodelamethodformonetizingthenonmarketgoodofindividualwellbeing