Use of contingent valuation to place a monetary value on pharmacy services: An overview and review of the literature

Karen Blumenschein, Magnus Johannesson

Research output: Contribution to journalArticlepeer-review

35 Scopus citations

Abstract

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.

Original languageEnglish
Pages (from-to)1402-1417
Number of pages16
JournalClinical Therapeutics
Volume21
Issue number8
DOIs
StatePublished - 1999

Keywords

  • Contingent valuation
  • Health economic evaluation methodology
  • Pharmacy services
  • Willingness to pay

ASJC Scopus subject areas

  • Pharmacology
  • Pharmacology (medical)

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