How Much You Are Worth
The Value of a Human Life in Corporate Cost Analysis: How Much Is Your Life Worth?
Corporate Human Cost Analysis
Many cost-of-illness studies have investigated the impact of rheumatoid arthritis on productivity, invariably concluding that productivity costs are high. Different methods exist to value productivity.
Human-capital methods take the patient’s perspective counts any hour not worked as an hour lost. By contrast, the friction-cost method takes the employer’s perspective and only counts as lost those hours not worked until another employee takes over the patient’s work.
- Both methods can produce widely different results. Productivity costs have the potential to compensate for the value of life.
What a Cost-of-Illness Study Is
Literature reviews of productivity losses and injuries, the experiences of two rheumatologists, and my examination of more than 15,000 nurses. We will conclude that these studies are inconclusive, raising important questions and suggesting possible alternative measures. Preface, The universe of medical cost-of-illness studies, focuses on two populations: an employee’s (or client’s) lost productivity and an employer’s financial costs of an employee’s (or…
