Econometric modelling of multiple self-reports of health states: The switch from EQ-5D-3L to EQ-5D-5L in evaluating drug therapies for rheumatoid arthritis
Year: 2017
Type: article
Abstract: EQ-5D is used in cost-effectiveness studies underlying many important health policy decisions. It comprises a survey instrument describing health states across five domains, and a system of utility values for each state. The original 3-level version of EQ-5D is being replaced with a more sensitive 5-level version but the consequences of this change are uncertain. We develop a multi-equation ordinal response model incorporating a copula specification with normal mixture marginals to analyse joint responses to EQ-5D-3L and EQ-5D-5L in a survey of people with rheumatic disease, and use it to generate mappings between the alternative descriptive systems. We revisit a major cost-effectiveness study of drug therapies for rheumatoid arthritis, mapping the original EQ-5D-3L measure onto a 5L valuation basis. Working within a comprehensive, flexible econometric framework, we find that use of simpler restricted specifications can make very large changes to cost-effectiveness estimates with serious implications for decision-making.
Source: Journal of Health Economics
Authors: Mónica Hernández-Alava, Stephen Pudney
Institution: University of Sheffield
Language: English
Subfield: Economics and Econometrics
Domain: Social Sciences
Open Access status: hybrid
Estimated APC paid: $2,105
Awards: Understanding Society Waves 6 to 8, Modelling generic preference based outcome measures - development and comparison of methods., Research Centre on Micro-Social Change, The Research Centre for Micro-Social Change (MiSoC): Understanding individual and family behaviours in a new era of uncertainty and change
OpenAlex ID: W2731622813