health economics advice for analysis on SPSS

Greetings, Given the significant decrease in cost by 27.5% in the pilot group, it's crucial to estimate the potential cost savings resulting from the intervention. I propose the following approach to calculate the approximate yearly cost savings: Firstly, determine the average cost savings per patient by subtracting the median cost of intervention in the pilot group from the control group. In this case, the average cost savings per patient would be (£17,493 - £12,682) = £4,811. Given that approximately 52.8% of patients would be eligible yearly for the intervention in the pilot study, multiply the average cost savings per patient by the estimated number of eligible patients (1200) to find the total yearly cost savings. Perform the calculation to obtain the estimated yearly cost savings. This approach takes into account both the reduction in cost per patient and the projected number of patients eligible for the intervention, providing a comprehensive estimate of the economic impact of the pilot study. I will effectively capture the approximate yearly cost savings and contribute valuable insights to your health economics analysis. Best Regards, Zohaab.

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Hello. I understand you are looking for someone who can provide health economics advice for the analysis of SPSS and calculate the approximate yearly cost savings. Specifically, you want to know how to calculate the approximate yearly cost savings after implementing an intervention in a pilot study group - a decrease of 27.5% compared to the control group's median cost of £17,493. I believe I am the perfect fit for this project!

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To calculate the approximate yearly cost savings, you'll need to follow these steps: Calculate the cost per patient in both groups: Control group median cost = £17,493 Pilot group median cost = £12,682 Calculate the difference in cost per patient: Cost difference per patient = Control group median cost - Pilot group median cost Calculate the number of eligible patients yearly in the pilot group: Number of eligible patients = Total yearly eligible patients * Percentage eligible in the pilot group Given: Total yearly eligible patients = 1200 and Percentage eligible in the pilot group = 52.8% (or 0.528) Estimate the yearly cost savings: Yearly cost savings = Cost difference per patient * Number of eligible patients yearly in the pilot group Let's put these calculations into action: Cost per patient: Control group median cost = £17,493 Pilot group median cost = £12,682 Cost difference per patient = £17,493 - £12,682 = £4,811 Number of eligible patients yearly in the pilot group: Total yearly eligible patients = 1200 Percentage eligible in the pilot group = 0.528 Number of eligible patients = 1200 * 0.528 ≈ 634 Yearly cost savings ≈ Cost difference per patient * Number of eligible patients yearly in the pilot group Yearly cost savings ≈ £4,811 * 634 ≈ £3,052,074 So, the approximate yearly cost savings would be around £3,052,074.