Hostname: page-component-78c5997874-4rdpn Total loading time: 0 Render date: 2024-11-15T17:59:04.638Z Has data issue: false hasContentIssue false
  • English
  • Français

Valuation of the Benefits of Risk-free Blood: Willingness to Pay for Hemoglobin Solutions

Published online by Cambridge University Press:  10 March 2009

Steven R. Eastaugh
Steven R. Eastaugh
Affiliation:
George Washington University
Get access Rights & Permissions [Opens in a new window]

Abstract

The dream of artificial blood has existed since the 1960s. Disease-free hemoglobin solutions will be commercially available in 1991. A willingness-to-pay (WTP) survey was undertaken to assess the tangible and intangible benefits to the public from this new product. The positive results suggest that third-party payers should cover this benefit and assist the diffusion of this new technology. From the perspective of industrial marketing, results suggest that there will be little consumer price resistance for hemoglobin solutions within the suggested price range of $225–300 per unit. Management implications of this new product are discussed.

Type
General Essays
Information
International Journal of Technology Assessment in Health Care , Volume 7 , Issue 1 , Winter 1991 , pp. 51 - 58
Copyright
Copyright © Cambridge University Press 1991

Access options

Get access to the full version of this content by using one of the access options below. (Log in options will check for institutional or personal access. Content may require purchase if you do not have access.)

References

1.Eastaugh, S.Cost of hospital-based AIDS research. Hospital Topics, 1989, 67, 18–22.Google Scholar
2.Eastaugh, S. R.Universal health insurance: Equivocation throughout the nation. New England Journal of Medicine, 1990, 322, 1339.Google Scholar
3.Eastaugh, S.Placing value on life and limb: The role of the informed consumer. Health Matrix, 1983, 1, 5–21.Google Scholar
4.Eastaugh, S.Financing health care: Economic efficiency and equity. Westport, CT: Green wood Press, 1987, 720.Google Scholar
5.Eastaugh, S. R.Financing the correct rate of growth of medical technology. Quarterly Review of Economics in Business, 1990, 30, 74–82.Google Scholar
6. Federal Register, Executive Order 12291. 02 19, 1981, 13193–13198.Google Scholar
7.Fisher, A.Chestnut, L., & Violette, D.The value of reducing risk of death. Journal of Policy Analysis and Management, 1989, 8, 88–100.Google Scholar
8.Kotler, P.Marketing for nonprofit organizations. Engelwood Cliffs, NJ: Prentice-Hall, 1990.Google Scholar
9.v., Kozup Georgetown University, 663 F. Supp., DC case, 1987.Google Scholar
10.Mishan, E.Cost-benefit analysis. New York: Praeger, 1976.Google Scholar
11.Moore, M., & Vicusi, K.Doubling the estimated value of life: Results using new occupa tional fatality data. Journal of Policy Analysis and Management, 1988, 7, 476–90.CrossRefGoogle Scholar
12.Quigley, P., Hinohara, T, & Phillips, H.Myocardial protection during coronary angioplasty with an autoperfusion balloon catheter in humans. Circulation. 1988, 78, 1128–33.Google Scholar
13.Schelling, T. The value of the life you save may be your own. In Chase, S. (ed.), Problems in public expenditure analysis. Washington, DC: Brookings, 1986, 127–62.Google Scholar
14.Sundram, P., Harvey, J., & Johnson, R.Benefit of the perfusion catheter for emergency coronary artery grafting after failed percutaneous transluminal coronary angioplasty. American Journal of Cardiology, 1989, 63, 282–85.Google Scholar
15.Surgenon, D., Wallace, E., Hao, F., & Chapman, R.Collection and transfusion of blood in the United States. New England Journal of Medicine, 1990, 322, 1646–51.Google Scholar
16.Udell, J.AIDS and the duty to warn. Health Matrix, 1988, 6, 31–35.Google Scholar
17.Urban, G., & Hauser, J.Design and marketing of new products. Engelwood Cliffs, NJ: Prentice-Hall, 1989.Google Scholar