Description
Value hours using replacementHourlyCost when useReplacement or foregoneHourlyEarnings otherwise, then subtract reimbursement.
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.
Value hours using replacementHourlyCost when useReplacement or foregoneHourlyEarnings otherwise, then subtract reimbursement.
When to use this tool
Use Informal Care Hour Value Term when you need one transparent health-economic cost or comparison component.
How to use the tool and how it works
- Enter hours, replacementHourlyCost, foregoneHourlyEarnings, useReplacement, reimbursed. Use the units and conventions below.
- Run the tool. Correct any format, range, or cross-field input error before interpreting the output.
- Read grossValue, netValue. Use the output convention below.
Require nonnegative hours, hourly values, and reimbursed. Value hours using replacementHourlyCost when useReplacement or foregoneHourlyEarnings otherwise, then subtract reimbursement.1
| Input field | Meaning and units | Accepted input |
|---|---|---|
| hours | Hours | Required. Finite number; minimum 0. |
| replacementHourlyCost | Replacement Hourly Cost | Required. Finite number; minimum 0. |
| foregoneHourlyEarnings | Foregone Hourly Earnings | Required. Finite number; minimum 0. |
| useReplacement | Use Replacement | Required. Boolean. |
| reimbursed | Reimbursed | Required. Finite number; minimum 0. |
| Output field | Interpretation | Returned shape |
|---|---|---|
| grossValue | Gross Value | Required. Finite number. |
| netValue | Net Value | Required. Finite number. |
{
"input": {
"hours": 20,
"replacementHourlyCost": 25,
"foregoneHourlyEarnings": 15,
"useReplacement": true,
"reimbursed": 100
},
"output": {
"grossValue": 500,
"netValue": 400
}
}Limitations and assumptions
- Amounts share currency and netValue may be negative; selecting a valuation basis does not determine care quality, legal compensation, or a recommended economic perspective.
- 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
- Health Cost Productivity Time Share Term
Multiply nonnegative lostHours by workFraction in [0, 1] for paidWorkHours, then nonnegative wagePerHour for gross cost, and one minus replacementFraction for unreplacedCost.
- Health Care Perspective Included Cost Tag
Always include payerCost and optionally include patientCost, productivityCost, and informalCareCost under their flags.