The menu-setting problem and subsidized prices: drug formulary illustration

Article Abstract:

The essence of the menu-setting problem (MSP) involves determining the goods and services a profit-seeking organization provides and the prices charged for these offerings. A study investigated the importance of the MSP in the health care business and, in particular, drug formularies, where MSP functions as a mathematical model that explicitly describes patient heterogeneity and considers all medical conditions/drugs together when selecting a formulary. Findings indicate that the MSP framework does much more than just permitting optimization in a subsidized situation.

Econometrics & Model Building, Models, Analysis, Usage, Econometrics, Mathematical models, Mathematical optimization, Optimization theory, Business models, Pharmacopoeias

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Willingness to pay for antihypertensive therapy - further results

Article Abstract:

A Swedish study concerning patient willingness to pay for therapy for hypertension treatment demonstrated mean willingness to pay around Swedish Kroner 6,000/year (in 1991 prices). A contingent valuation (CV) approach was used, with 525 questionnaires sent to hypertension patients being treated at a Swedish primary health facility. An explicit expected utility model was the basis for calculation of mean willingness to pay.

Finance, Hypertension, Preventive medicine, Medicine, Preventive

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Hypothetical versus real willingness to pay in the health care sector: results from a field experiment

Article Abstract:

This research attempts to determine whether consumer responses to an offer of an asthma care program can be relied upon. The study found that people answered 'yes,' when they didn't actually purchase the plan later. The higher the price of the program, the lower the correlation of survey responses to actual enrolment.

World, Purchasing, Pharmaceutical industry, Marketing, Asthma, Consumer behavior

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