Use of contingent valuation to place a monetary value on pharmacy services: an overview and review of the literature.
An important goal for the pharmacy profession is to quantify the economic value of pharmacy services. The contingent valuation (CV), or willingness-to-pay method, offers one approach to valuing the benefits of pharmacy services. The potential advantage CV offers is that it reflects, in a single monetary amount, the entire range of attributes (both benefits and "nonbenefits") offered by the good or service being valued. This paper provides a brief overview of the CV method and reviews 10 published studies that used a willingness-to-pay question to place a monetary value on pharmacy services. Suggestions for other researchers wishing to use this method are provided.
Blumenschein
K
K
College of Pharmacy and Martin School of Public Policy and Administration, University of Kentucky, Lexington 40536-0082, USA.
Johannesson
M
M
D003362:Cost-Benefit Analysis / Q000379:methods; D018803:Models, Economic; D010607:Pharmacy Service, Hospital / Q000191:economics*; D013548:Sweden