There are various economic analysis approaches used in healthcare programs whose suitability, and as indicated by the United States National Library of Medicine, depend not only on the purpose of an assessment but also the availability of data as well as other resources. Some of the most common financial analyses include the cost of illness analysis, cost minimization analysis, cost-effectiveness analysis, cost-utility analysis, cost consequence analysis, and cost-benefit analysis as well as budget impact analysis.
Impact of Finance on Program Success
Cost Effective Analysis for Breast Cancer Awareness Program
Cost-effective analysis, which the United States National Library of Medicine (2008) defined as a comparison of costs in monetary terms visa vie the outcomes measured in quantitative non-monetary terms. The cost-effective analysis is the most appropriate for this breast cancer awareness program among African American women as it can help policymakers in determining the number of cases prevented and compare the outcome of the intervention with other interventions that affect the same result.
Financial Implications of Breast Cancer
Dealing with breast cancer problem is one of the most challenging things that can happen in a person’s life. It affects every facet of an individual’s daily life and that of her family members. Failure to address the problem of breast cancer among African American women can lead to financial implications among the target population. Jagsi et al. (2014) asserted that the financial implications could take two different forms: additional costs and reduction in income. Other costs appear in various ways like the cost of medication, additional medical expenses, cost of treatment, changes in personal care expenses, increased day to day cost of living and managing the side effects of breast cancer. With regards to reduction in income, persons with breast cancer may be forced to leave their jobs leading to loss of earnings. This medium implies that persons with cancer and their families have to manage on reduced household income despite the increasing cost associated with diagnosis, medication, and treatment.
Short-Term and Long-Term Implications of Breast Cancer
Failure to address the problem of breast cancer among African American women can impact on the physical and psychological well-being of not only the patients but also their family members in the short and long run. The short-term impacts according to Glanz and Lerman (1992) included adjusting to the disease, the stresses of medical treatment, depression, anxiety, insomnia, relationship strains, and emotional needs. From the long-term impact perspective, breast cancer can cause early menopause and fertility issues, weight gain, heart problems and changes to the breast as well as cells damage, psychological problems and sexual disorders among women (Glanz & Lerman, 1992). Pumo et al. (2012) indicated that psychological issues might affect a patient during treatment and follow-ups and it may persist for long after diagnosis. Some psychosocial implications of breast cancer include psychological stress, anxiety, depression, cognitive and affective disorders as well as fear. With regards to sexual dysfunction, persons with breast cancer have impaired relationship with their partners arising from problems associated with cancer treatment. Women may experience pain during intimacy (Pumo et al., 2012).
Cost Effectiveness Analysis and Quality of Program Outcome
Cost-effectiveness analysis, at its core, measures the ratio of the costs of a given program to the impacts it has on a single outcome (NLM, 2008). With this in mind, cost-effectiveness analysis can be used to measure the cost for a given degree of level of effectiveness such as the cost of increasing breast cancer screening attendance by 12 months. Alternatively, cost-effectiveness analysis strategy can be used to measure the level of effectiveness at a given cost like the months of additional participation to breast cancer screening by African American women induced by spending 500,000 United States dollars. Melnikow et al. (2013), in their support, pointed out that cost-effectiveness analysis summarizes a program’s impacts as a ratio of costs or effects for a specific outcome.
References
Glanz, K., & Lerman, C. (1992). Psychosocial impact of breast cancer: A critical review. Annals of Behavioral Medicine, 14(3), 204-212.
Jagsi, R., Pottow, J. A., Griffith, K. A., Bradley, C., Hamilton, A. S., Graff, J., … & Hawley, S. T. (2014). The long-term financial burden of breast cancer: Experiences of a diverse cohort of survivors identified through population-based registries. Journal of Clinical Oncology, 32(12), 1269-1276
Melnikow, J., Tancredi, D. J., Yang, Z., Ritley, D., Jiang, Y., Slee, C., … & Smalley, S. (2013). Program-specific cost-effectiveness analysis: breast cancer screening policies for a safety-net program. Value in Health, 16(6), 932-941.
Pumo, V., Milone, G., Iacono, M., Giuliano, S. R, Lopiano, C., …….& Tralongo, P. (2012). Psychological and sexual disorders in long-term breast cancer survivors. Cancer Management and Research, 4, 61-64.
U.S. National Library of Medicine. (2008). HTA 101: IV. Cost analysis methods. Retrieved from http://www.nlm.nih.gov/nichsr/hta101/ta10106.html
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