Each state’s prioritization may differ from the National Academies’ recommendations. It is worth noting that the vaccine rollout is not managed centrally in the United States, but by each state.
In the United States, since the first vaccine (Pfizer-BioNTech) received Emergency Use Authorization on December 11, 2020, over three million doses were distributed to healthcare facilities in all 50 states. The plan outlined by the United States National Academies of Sciences, Engineering, and Medicine prioritizes vaccine allocation for first responders, high-risk health workers, and vulnerable populations. Reducing the risk associated with the disease in vulnerable populations and in populations most affected by it.Įquity, while missing from many economic analyses, is important to consider when rolling out COVID-19 vaccines as deviations from perceived or explicit fairness may result in backlash and future hesitancy. Increasing the scientific knowledge in vaccine development and rollout, and disease prevention, thus paving the way for more effective vaccines and vaccine rollouts. Increasing a patient’s value of the vaccine beyond the average gain in quality-adjusted life years (QALY). Increasing the “value of knowing” and limiting the uncertainty by reducing the probability of disability or death. Reducing a person’s physical and financial risk in this pandemic. Reducing the fear of contagion in a pandemic and alleviating concerns attached to the freedom of movement and to congregate.Īvoiding getting sick from a potentially lethal or debilitating disease. suggested consideration of additional types of non-health-related costs : Non-health costs
RATE OF COVID VACCINE PRODUCTION PROFESSIONAL
Based on a report from the Professional Society for Health Economics and Outcomes Research (ISPOR), Garrison Jr. In addition to quantifying the economic value of returning to normalcy for business activities, other non-health benefits are known to economists and a few can be quantified and costed. To assess these broader impacts requires economists to forecast economic recovery as well as predict where the global economy would be in the absence of COVID-19. As such, economists cannot resort to traditional cost-effectiveness or cost-of-illness analysis as many of the benefits of preventing or treating COVID-19 are not health-related. In addition to health sector costs, the necessary business restrictions and lockdowns used as preventive measures – and resulting changes to consumer behavior – expanded the productivity loss beyond the health system and those infected. In addition to costs incurred due to COVID-19 itself, medical and health system accrue additional costs due to delayed elective procedures, forgone routine preventive health services (e.g., vaccination and cancer screenings) during lockdown periods, reduced ability to treat patients due to overcrowding of healthcare facilities with COVID-19 cases, and delays in care-seeking by individuals fearful of COVID-19. The considerable economic and social toll caused by the COVID-19 pandemic, however, extends well beyond direct health costs. Yet these estimates may undervalue the broader economic impact on society. The classic approach to assessing cost-of-illness assumes that the total cost is encompassed by these medical and non-medical costs. These costs also include indirect costs due to productivity loss, such as lost wages due to illness, disability, or premature death.
Most often, those costs consist of the average medical and non-medical costs incurred by an individual, the health system, or society, including insurance reimbursement payments and out-of-pocket payments for items such as diagnostic tests, medications, hospitalization, and transportation to and from healthcare facilities. To estimate the economic value of a preventive measure, economists typically assess the costs associated with the disease prevented. What is the economic value of vaccines against SARS-CoV-2?
Many biotechnological companies and partnerships are involved, collaborating and competing against each other to develop and produce effective and safe vaccines. There are over a hundred vaccines against SARS-CoV-2 in development, including at least 54 vaccines currently being tested on human subjects.
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