Description
Blend positive wageIndexRatio and nonwageIndexRatio with wageShare in [0, 1], then multiply signed baseCost by that weightedIndex.
Health-economic costs depend on resource definitions, perspective, currency, price year, and timing. An incremental or discounted model term uses supplied assumptions without proving treatment benefit or determining an adoption decision.
Blend positive wageIndexRatio and nonwageIndexRatio with wageShare in [0, 1], then multiply signed baseCost by that weightedIndex.
When to use this tool
Use Health Cost Wage Nonwage Index Weight when you need one transparent health-economic cost or comparison component.
How to use the tool and how it works
- Enter baseCost, wageShare, wageIndexRatio, nonwageIndexRatio. Use the units and conventions below.
- Run the tool. Correct any format, range, or cross-field input error before interpreting the output.
- Read weightedIndex, updatedCost. Use the output convention below.
Blend positive wageIndexRatio and nonwageIndexRatio with wageShare in [0, 1], then multiply signed baseCost by that weightedIndex.1
| Input field | Meaning and units | Accepted input |
|---|---|---|
| baseCost | Base Cost | Required. Finite number. |
| wageShare | Wage Share | Required. Finite number; minimum 0; maximum 1. |
| wageIndexRatio | Wage Index Ratio | Required. Finite number; strictly above 0. |
| nonwageIndexRatio | Nonwage Index Ratio | Required. Finite number; strictly above 0. |
| Output field | Interpretation | Returned shape |
|---|---|---|
| weightedIndex | Weighted Index | Required. Finite number. |
| updatedCost | Updated Cost | Required. Finite number. |
{
"input": {
"baseCost": 1000,
"wageShare": 0.6,
"wageIndexRatio": 1.2,
"nonwageIndexRatio": 1.1
},
"output": {
"weightedIndex": 1.1600000000000001,
"updatedCost": 1160.0000000000002
}
}Limitations and assumptions
- Both indexes must use the same source/target period orientation; the weighted update does not select official price indexes or establish real resource use.
- Inputs must satisfy both the field types and the cross-field conditions above. Invalid input causes an error; a successful false flag or documented placeholder is a different result.
- Numeric calculations use binary floating point unless exact decimal-integer arithmetic is explicitly stated. No hidden measurement tolerance or decimal rounding is added; nonfinite or out-of-contract results are rejected. Numeric signed-zero results are exported as zero.
Alternative or Complementary methods
Review the complete economic evaluation, clinical evidence, uncertainty, and relevant decision context separately.
References
Similar or alternative tools
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