Parametric estimation of medical care costs under conditions of censoring

Maria Raikou and Alistair McGuire

LSE Research Online Documents on Economics from London School of Economics and Political Science, LSE Library

Abstract: This paper is concerned with a set of parametric estimators that attempt to provide consistent estimates of average medical care costs under conditions of censoring. The main finding is that incorporation of the inverse of the probability of an individual not being censored in the estimating equations is instrumental in deriving unbiased cost estimates. The success of the approach is dependent on the amount of available information on the cost history process. The value of this information increases as the degree of censoring increases.

Keywords: Cost of medical care; Censoring; Survival analysis; Regression analysis; Health care economic evaluation. (search for similar items in EconPapers)
JEL-codes: C00 (search for similar items in EconPapers)
Pages: 23 pages
Date: 2009-02
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Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:ehl:lserod:28857

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