How to conduct cost and value analyses in health professions education: AMEE Guide No. 139

Abstract

Growing demand for accountability, transparency, and efficiency in health professions education is expected to drive increased demand for, and use of, cost and value analyses. In this AMEE Guide, we introduce key concepts, methods, and literature that will enable novices in economics to conduct simple cost and value analyses, hold informed discussions with economic specialists, and undertake further learning on more advanced economic topics. The practical structure for conducting analyses provided in this guide will enable researchers to produce robust results that are meaningful and useful for improving educational practice. Key steps include defining the economic research question, identifying an appropriate economic study design, carefully identifying cost ingredients, quantifying, and pricing the ingredients consumed, and conducting sensitivity analyses to explore uncertainties in the results.

Keywords:

• costs and cost analysis
• cost-effectiveness
• economics
• medical education
• health professions education

Disclosure statement

The authors report no conflicts of interest. All authors are members of the Society for Cost and Value in Health Professions Education. The authors alone are responsible for the content and writing of the article.

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Additional information

Notes on contributors

Jonathan Foo

Jonathan Foo, B.Physio(Hons), is a PhD candidate whose thesis is focused on the application of economic evaluations to health professions education. Jonathan is a practicing physiotherapist, Teaching Associate at Monash University Australia, and secretary for the International Society for Cost and Value in Health Professions Education.

David A. Cook

David A. Cook, MD, MHPE, is an Associate Director of Research in the Office of Applied Scholarship and Education Science, Chair of the Simulation Center Research Committee, and Professor of Medicine and Medical Education, Mayo Clinic College of Medicine and Science; and a Consultant in the Division of General Internal Medicine, Mayo Clinic, USA.

Martin Tolsgaard

Martin Tolsgaard, MD, PhD, DMSc., is Associate Professor, University of Copenhagen and a medical education scientist at Copenhagen Academy for Medical Education and Simulation (CAMES). He is an Obstetrician at Copenhagen University Hospital Rigshospitalet; and deputy editor for Advances in Health Sciences Education and for Perspectives on Medical Education.

George Rivers

George Rivers, BEc(Hons), MEc, PhD, is affiliated with the Department of Economics, Monash Business School, Monash University, Australia. He is on the board of the Economic Society of Australia and the executive committee of the Society for Cost and Value in Health Professions Education. Dr Rivers has also been engaged by various government departments as a cost-benefit economist including the Department of Health and Human Services (Victoria).

Jennifer Cleland

Jennifer Cleland, BSc(Hons), MSc, PhD, D Clin Psychology, is Vice-Dean of Education and Director, Medical Education Research and Scholarship Unit, Nanyang Technological University, Singapore. She is Adjunct/Associate Professor at the Universities of Southampton, UK; Curtin, Australia; and Uniformed Services University of The Sciences, USA.

Kieran Walsh

Kieran Walsh, MB, FRCPI, is Clinical Director at BMJ. He is the editorial lead of the medical education and evidence-based medicine products at BMJ. He is also Adjunct Associate Professor at Monash University. In the past he has worked as a hospital doctor specialising in General Internal Medicine and Geriatric Medicine.

Mohamed Elhassan Abdalla

Mohamed Elhassan Abdalla, MBBS, MHPE, PhD, is an Assistant Professor of Medical Education at the College of Medicine and Director of Medical Education Center, University of Sharjah, UAE, Fellow of the Academy of Medical Educators, Co-Chair of the taskforce on Social Accountability and Accreditation at the Network-TUFH, and Chairperson for the Group on Social Accountability of Medical Schools at the Association of Medical Education in the Eastern Mediterranean Region (AMEEMR).

You You

You You, BA, PhD, is an Assistant Professor and Research Scientist, National Center for Health Professions Education Development, Institute of Medical Education, and Institute of Economics of Education, Peking University, China.

Dragan Ilic

Dragan Ilic, BSc, MRepSci, PhD, is a Professor and Director of Teaching and Learning, School of Public Health and Preventive Medicine, Monash University, Australia.

Robert Golub

Robert Golub, MD, is Deputy Editor, JAMA (Journal of the American Medical Association) and Associate Professor of Medicine, Northwestern University Feinberg School of Medicine, Chicago, Illinois, USA.

Henry Levin

Henry Levin, BSc, MA, PhD, is Professor of Economics and Education, Teachers College, Columbia University, USA; David Jacks Professor of Education and Economics Emeritus, Stanford University, USA; and Director, Center for Benefit Cost Studies of Education (CBCSE).

Stephen Maloney

Stephen Maloney, B.Physio, MPH, PhD, eMBA, is Deputy Head of the School of Primary and Allied Health Care, Faculty of Medicine, Nursing and Health Sciences, Monash University, Australia. Stephen is a founding member of the International Society for Cost and Value in Health Professions Education, a fellow of the Monash Education Academy, and an adjunct of the Monash Education and Research Quality Unit.