A cost-benefit analysis of the life-prolonging effect of nonsteroidal anti-inflammatory drugs for persons with dementia and pain
Year: 2024
Type: article
Abstract: Persons with dementia are more susceptible to pain. If they take Nonsteroidal Anti-Inflammatory Drugs (NSAID) as pain relievers, the policy question is whether these medicines will be socially worthwhile. In this paper, a Cost-Benefit Analysis (CBA) was undertaken of the NSAID to see whether their benefits outweigh the costs for elderly persons with dementia. To construct the benefits, a Quality Adjusted Life Year was used as the intervention output, which was then converted into monetary terms using the Value of a Statistical Life Year. Using estimates based on a large, US national panel data set, the CBA found that the NSAID generated positive net-benefits. It was possible to re-evaluate all the prior dementia interventions that were based on the same data set, using the same methods as for the NSAID CBA. By comparing the NSAID results with those from the other alternative dementia interventions one can establish public funding priorities.
Source: Applied Economics
Author: Robert J. Brent
Institution: Fordham University
Language: English
Subfield: Economics and Econometrics
Domain: Social Sciences
Open Access status: hybrid
Awards: G2190936067, G4429651648
OpenAlex ID: W4401470811