Health Measurement & Valuation
IEc is a national leader in quantifying and monetizing the benefits of laws, policies, and programs influencing health and safety. We specialize in valuing improvements in public health such as reductions in the number of cases of lung disease resulting from smoking cessation programs, or reduced incidence of kidney disease as the result of improved drinking water quality. IEc has developed and implemented methods to value a variety of fatal and nonfatal health outcomes, including acute and chronic illnesses and injuries.
Although health-related amenities often are not purchased in conventional markets, their value can be central to public policy management decisions. IEc applies a wide array of valuation methods that draw on our skills in statistical analysis, microeconomics, and risk analysis. For instance, we estimate averted medical treatment and lost productivity costs associated with improved air quality. Likewise, we implement revealed preference (e.g., hedonic wage studies) or stated preference (e.g., contingent valuation) analyses using both primary research and methods built on existing literature. We enhance our capabilities through collaboration with prominent academic economists.
IEc’s client base for health valuation is diverse and includes the U.S. EPA, U.S. Customs and Border Protection, U.S. Coast Guard, Consumer Products Safety Commission, Department of Health and Human Services, and Health Canada.