Health Economics

Mission

The impact of health and health care costs on economic growth has long been described. Given the rising health care needs and an increased cost consciousness, health economics as a service has received considerable attention. In its broad definition, health economics comprises an organized and systemic analysis of the trade-offs between costs and units of effectiveness.

The goal of the Health Economics Unit (HEU) is to introduce health economics methods to investigators and provide expert services for applying a wide range of health economic tools. Research areas amenable to these services are diverse and include: bench-to-bedside translation, clinical trials, health services delivery research, and health policy reform. The viewpoints of these evaluations may variously include the patient, hospital, healthcare budget or society as a whole. Key responsibilities of the HEU include:

  • Helping investigators apply comparative effectiveness and health economics methodological tools to clinical and translational research
  • Evaluating the research impact of health economics services

Resources & Services

  • Cost-Effective Analysis (CEA): consequences of interventions (or programs) held as comparators are measured in natural units such as “life years gained” or “hospitalizations avoided.” A special form of CEA called cost-utility analysis (CUA) accounts for the consequences of alternative interventions are adjusted by health state preference scores called utility weights
  • Cost-Benefit Analysis: cost and health consequences are evaluated in a manner similar to a CEA, but when both the numerator and denominator are placed in monetary terms
  • Budget-Impact Analysis: down-stream estimate of total financial consequences within a specific healthcare budget from which to assess affordability
  • Sensitivity Analysis: an extreme scenario analysis to test the extent to which results are robust following extreme changes in values, assumptions and sets of values and assumptions

Leadership & Administration

Christopher Jones, DPhil Director Given Courtyard, S363
chris.jones@uvmhealth.org
802-656-8217
Ellen Dimick Coordinator Given Courtyard, S352
ellen.dimick@uvm.edu
802-656-8267

Faculty & Staff

Mujde Erten, PhD Health Economist
Assistant Professor
Given Courtyard S354
mujde.erten@uvm.edu
802-656-8296
Robert Everett, Jr., PhD Health Economist
Visiting Professor
robert.w.everett@uvm.edu
Eric Clark

Big Data Specialist
and Analyst

Given D319
eric.clark@uvm.edu

Affiliates

  • Caroline Rudisill, PhD, Lecturer, London School of Economics
  • Megan Frenzen, PhD, Assistant Professor, Champlain College
  • Donald Shepard, PhD, Professor of Economics at the Schneider Institutes for Health Policy, Brandeis University
  • Jeffrey Petrozzino, MD, PhD, Principal, Compara Biomedical, Inc.
  • Jack Caravelli, PhD, Cybersecurity Expert and Fellow of the GHEU