An economic assessment of the information system for the surveillance of liver fluke and cholangiocarcinoma of the Fluke Free Thailand Project (Isan cohort)
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Abstract
This study aimed to assess the economic impact of the information system for the surveillance of liver fluke and cholangiocarcinoma of the Fluke Free Thailand Project (Isan cohort) implemented by Khon Kaen University with an allied network. The economic benefit of the Isan cohort was estimated using willingness to pay (WTP), obtained from the contingent valuation method (CVM). WTP was estimated using a Tobit model and maximum likelihood method. Future benefits were forecasted via a triple exponential smoothing method. Investment worthiness was also analyzed using a cost-benefit analysis covering a 10-year investment period, fiscal years 2017-2026, with four financial measures. The estimated result of the users’ WTP for accessing the Isan cohort was 54.64 Baht per access. The average value of the benefits was 27.2 million Baht per year. The payback period (PBP) of the project was within 0.94 years. This project was commercially worthwhile as the net present value was 153.3 million Baht (NPV > 0), the benefit-cost ratio was 6.92 (BCR > 1), and the internal rate of return (IRR) was 110.66% higher than the discount rate (8.00%). The Isan cohort project, therefore, should be invested in further. However, investment, operation, and maintenance of the project are high costs that should be supported by the Thai government, as the benefits of the project would provide an economic and social impact on the entire country. Conversely, the project would not be feasible if users utilized the software less than 50,669 times a year.
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References
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