A study on the cost-effectiveness of coronary revascularization: Introducing the simultaneous mimic health status model

Jae Sang Lee; Martin J. Bailey; Jinook Jeong; Patrick D. Mauldin; William S. Weintraub

doi:10.1002/(sici)1099-1050(199711)6:6<613::aid-hec305>3.3.co;2-y

A study on the cost-effectiveness of coronary revascularization: Introducing the simultaneous mimic health status model

Jae Sang Lee, Martin J. Bailey, Jinook Jeong, Patrick D. Mauldin, William S. Weintraub

Department of Economics

Research output: Contribution to journal › Article › peer-review

7 Citations (Scopus)

Abstract

An econometric model is presented to compare the cost-effectiveness of two alternative procedures, percutaneous transluminal coronary angioplasty (PTCA) and coronary artery bypass surgery (CABG), for the treatment of multivessel coronary artery disease. This study utilizes the MIMIC (multiple indicator multiple cause) health model in a simultaneous equation system to analyse Emery Angioplasty Surgery Trial (EAST) data. This method eliminates the possibility of endogeneity bias, which may have affected the results of previous cost-effectiveness analyses on this topic. The empirical results indicate that neither procedure proves more cost-effective at 3 year follow-up.

Original language	English
Pages (from-to)	613-623
Number of pages	11
Journal	Health Economics
Volume	6
Issue number	6
DOIs	https://doi.org/10.1002/(sici)1099-1050(199711)6:6<613::aid-hec305>3.3.co;2-y
Publication status	Published - 1997

All Science Journal Classification (ASJC) codes

Health Policy

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10.1002/(sici)1099-1050(199711)6:6<613::aid-hec305>3.3.co;2-y

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abstract = "An econometric model is presented to compare the cost-effectiveness of two alternative procedures, percutaneous transluminal coronary angioplasty (PTCA) and coronary artery bypass surgery (CABG), for the treatment of multivessel coronary artery disease. This study utilizes the MIMIC (multiple indicator multiple cause) health model in a simultaneous equation system to analyse Emery Angioplasty Surgery Trial (EAST) data. This method eliminates the possibility of endogeneity bias, which may have affected the results of previous cost-effectiveness analyses on this topic. The empirical results indicate that neither procedure proves more cost-effective at 3 year follow-up.",

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