A STUDY ON THE COST-EFFECTIVENESS OF CORONARY REVASCULARIZATION - INTRODUCING THE SIMULTANEOUS MIMIC HEALTH-STATUS MODEL

An econometric model is presented to compare the cost-effectiveness of two alternative procedures, percutaneous transluminal coronary angiop lasty (PTCA) and coronary artery bypass surgery (CABG), for the treatm ent of multivessel coronary artery disease. This study utilizes the MI MIC (multiple indicator multiple cause) health model in a simultaneous equation system to analyse Emery Angioplasty Surgery Trial (EAST) dat a. This method eliminates the possibility of endogeneity bias, which m ay have affected the results of previous cost-effectiveness analyses o n this topic. The empirical results indicate that neither procedure pr oves more cost-effective at 3 year follow-up. (C) 1997 by John Wiley & Sons, Ltd.