Volume 6 - Special Issue 2 on COVID-19
Pharm Biomed Res 2020, 6 - Special Issue 2 on COVID-19: 93-104 |
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Kirigia J M, Muthuri R N D K. The Dollar Value of Human Life Losses Associated With COVID-19 in Canada. Pharm Biomed Res 2020; 6 (2) :93-104
URL: http://pbr.mazums.ac.ir/article-1-351-en.html
URL: http://pbr.mazums.ac.ir/article-1-351-en.html
1- African Sustainable Development Research Consortium (ASDRC), Nairobi, Kenya.
2- Faculty of Health Sciences, University of Pretoria, Pretoria, South Africa.
2- Faculty of Health Sciences, University of Pretoria, Pretoria, South Africa.
Abstract: (2928 Views)
Background: The coronavirus disease 2019 (COVID-19) pandemic continues to cause morbidity and premature mortality and ravage the socio-economic sectors in Canada.
Objectives: The study aimed to appraise the Total Dollar Value of Human Life Losses (TDVHL) associated with COVID-19 in Canada.
Methods: The net output approach was applied in the dollar valuation of the 8810 human life losses associated with COVID-19 in Canada as of July 16, 2020. The economic model was rerun assuming 3%, 5%, and 10% discount rates with Canada’s life expectancy of 83 years, the world’s average life expectancy of 73 years, the world’s highest average life expectancy of 88 years, and a 3% discount rate.
Results: The human lives lost to COVID-19 had an estimated value of the international dollar (Int$) 2037021173 and an average of Int$ 231217 per human life lost. Quebec and Ontario provinces alone accounted for 94.99% of the TDVHL. Reanalysis of the economic model with discount rates of 5% and 10% resulted in declines in TDVHL of Int$ 192721390 (9%) and Int$ 530132423 (26%), respectively. Substitution of the nation with the word’s average life expectancy shrank the TDVHL by Int$ 1754972473 (86%) while applying the world’s highest life expectancy triggered a growth in the TDVHL of Int$ 498674987 (24%).
Conclusion: The average value of human life lost is 4-fold the gross domestic product per capita for Canada.
Objectives: The study aimed to appraise the Total Dollar Value of Human Life Losses (TDVHL) associated with COVID-19 in Canada.
Methods: The net output approach was applied in the dollar valuation of the 8810 human life losses associated with COVID-19 in Canada as of July 16, 2020. The economic model was rerun assuming 3%, 5%, and 10% discount rates with Canada’s life expectancy of 83 years, the world’s average life expectancy of 73 years, the world’s highest average life expectancy of 88 years, and a 3% discount rate.
Results: The human lives lost to COVID-19 had an estimated value of the international dollar (Int$) 2037021173 and an average of Int$ 231217 per human life lost. Quebec and Ontario provinces alone accounted for 94.99% of the TDVHL. Reanalysis of the economic model with discount rates of 5% and 10% resulted in declines in TDVHL of Int$ 192721390 (9%) and Int$ 530132423 (26%), respectively. Substitution of the nation with the word’s average life expectancy shrank the TDVHL by Int$ 1754972473 (86%) while applying the world’s highest life expectancy triggered a growth in the TDVHL of Int$ 498674987 (24%).
Conclusion: The average value of human life lost is 4-fold the gross domestic product per capita for Canada.
Type of Study: Short Communication |
Subject:
Pharmacoeconomics
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