Please use this identifier to cite or link to this item: http://hdl.handle.net/2440/69854
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dc.contributor.authorKarnon, J.en
dc.contributor.authorBen-Tovim, D.en
dc.contributor.authorPham, C.en
dc.contributor.authorCaffrey, O.en
dc.contributor.authorHakendorf, P.en
dc.contributor.authorCrotty, M.en
dc.contributor.authorPhillips, P.en
dc.date.issued2011en
dc.identifier.citationAustralian Health Review, 2011; 35(4):501-506en
dc.identifier.issn0156-5788en
dc.identifier.issn0159-5709en
dc.identifier.urihttp://hdl.handle.net/2440/69854-
dc.description.abstractObjective. Proposed Australian healthcare reforms describe a move towards partial Commonwealth funding of public hospitals, whereby hospitals will be paid an ‘efficient price’ for each separation, incorporating both the costs and benefits of services. This paper describes a potential approach to setting the efficient price using risk adjusted cost-effectiveness (RAC-E) analysis. Methods. RAC-E analysis uses a decision analytic framework to estimate lifetime costs and survival for individual patients, which are standardised by comparing observed and expected values. Analysis of standardised costs and effects at different hospitals identifies efficient hospitals, from which efficient prices can be defined. Results. A RAC-E analysis of services for stroke patients at the four main public hospitals in South Australia demonstrates the need to account for costs and benefits in identifying efficient hospitals. The hospital with the best patient outcomes incurred additional costs relative to less effective hospitals. If an investment of AU$14 760 to gain an additional life year in stroke patients is deemed to be a cost-effective use of resources, then the most effective hospital is also the most efficient hospital. Conclusions. The applied RAC-E analysis demonstrates a framework for comparing the economic efficiency of care provided at different hospitals, which provides a basis for defining the efficient price and appropriate funding incentives to achieve better patient outcomes.en
dc.description.statementofresponsibilityJonathan Karnon, David I. Ben-Tovim, Clarabelle T. Pham, Orla Caffrey, Paul H. Hakendorf, Maria Crotty, Paddy A. Phillipsen
dc.language.isoenen
dc.publisherAustralian Healthcare Associationen
dc.rightsJournal compilation © AHHA 2011en
dc.subjectHealth Care Reform; Hospitals, Public; Financing, Government; Efficiency, Organizational; Risk Adjustment; Australiaen
dc.titleThe efficient price: an opportunity for funding reformen
dc.typeJournal articleen
dc.identifier.rmid0020115148en
dc.identifier.doi10.1071/AH10966en
dc.identifier.pubid26600-
pubs.library.collectionPublic Health publicationsen
pubs.verification-statusVerifieden
pubs.publication-statusPublisheden
dc.identifier.orcidKarnon, J. [0000-0003-3220-2099]en
dc.identifier.orcidPham, C. [0000-0003-4509-5368]en
dc.identifier.orcidPhillips, P. [0000-0002-9985-7631]en
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