Portfolio evaluation of health programs: A reply to Sendi et al.

John F P Bridges, Darcey D. Terris

Research output: Contribution to journalArticle

Abstract

Sendi et al. (Soc. Sci. Med. 57 (2003) 2207) extend previous research on cost-effectiveness analysis to the evaluation of a portfolio of interventions with risky outcomes using a "second best" approach that can identify improvements in efficiency in the allocation of resources. This method, however, cannot be used to directly identify the optimal solution to the resource allocation problem. Theoretically, a stricter adherence to the foundations of portfolio theory would permit direct optimization in portfolio selection, however, when we include uncertainty in our analysis in addition to the traditional concept of risk (which is often mislabelled uncertainty) complexities are introduced that create significant hurdles in the development of practical applications of portfolio theory for health care policy decision making.

Original languageEnglish (US)
Pages (from-to)1849-1851
Number of pages3
JournalSocial Science and Medicine
Volume58
Issue number10
DOIs
StatePublished - May 2004
Externally publishedYes

Fingerprint

portfolio-theory
Resource Allocation
Program Evaluation
Uncertainty
uncertainty
portfolio selection
cost analysis
Policy Making
Health
resource allocation
Health Policy
health
evaluation
resources
health care
Cost-Benefit Analysis
Decision Making
decision making
Delivery of Health Care
efficiency

Keywords

  • Cost-effectiveness analysis
  • Portfolio
  • Uncertainty

ASJC Scopus subject areas

  • Economics and Econometrics
  • Public Health, Environmental and Occupational Health
  • Social Psychology
  • Development
  • Health(social science)

Cite this

Portfolio evaluation of health programs : A reply to Sendi et al. / Bridges, John F P; Terris, Darcey D.

In: Social Science and Medicine, Vol. 58, No. 10, 05.2004, p. 1849-1851.

Research output: Contribution to journalArticle

Bridges, John F P ; Terris, Darcey D. / Portfolio evaluation of health programs : A reply to Sendi et al. In: Social Science and Medicine. 2004 ; Vol. 58, No. 10. pp. 1849-1851.
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