Net Present Value as an instrument to simplificate the decision making process in health technologies economic evaluation

Abstract

Objectives: The study aims to highlight the Present Value (PV) as a financial analysis tool which could simplify the decision making process of introducing health technologies. The financial evaluation can be extended as necessary, including outcomes and utility. As a model, the instrument was applied to the economic analysis of a robotic-assisted surgery equipment acquisition at José de Alencar Gomes da Silva National Cancer Institute (INCA – Ministry of Health – Brazil). Methods: The economic analysis of a robotic-assisted surgery equipment acquisition in an institute for oncology using the PV. Quantitative data was simulated to allow the development of an economic model, considering prostatectomy as a basis. The PV was calculated using MS EXCEL®. The results allowed us to formulate the goals of a Budget Impact Analysis (BIA) or other health economics evaluation within the process of public choice in a Beveridge model health care system. Results: The PV in this model was positive. Data collection and processing was simple and extrinsic macroeconomics variables, such as inflation and change, were important to reflect their impact to the budget. Cost information reflected the local market. A negative PV provided information on the financial resource amount to introduce technology by justified use. Conclusions: The PV has proved to be a useful and robust instrument to evaluate financial risks, especially those related to the introduction of a recent technology. This financial perspective as performed helped to set the goals of a societal perspective in a unified health care system through the health economics evaluation.