PATIENT AND INFORMAL CAREGIVER TIME IN COST-EFFECTIVENESS ANALYSIS - A RESPONSE TO THE RECOMMENDATIONS OF THE WASHINGTON PANEL

The time invested by patients and informal caregivers in treatment and rehabilitation should be valued in a cost-effectiveness analysis (CEA ). The Washington Panel gives recommendations on incorporation of time costs that may misrepresent true societal costs. This article provide s alternative recommendations for incorporating costs of time in CEA. Following an opportunity costs approach, time is separated into three parts, each with its own valuation methods: time spent on paid work, u npaid work, and leisure.