Handling Time in Economic Evaluation Studies
Unchalee Permsuwan PhD*, Kansinee Guntawongwan MA**, Piyaluk Buddhawongsa PhD**
Affiliation : * Department of Pharmaceutical Care, Faculty of Pharmacy, Chiang Mai University, Chiang Mai ** Faculty of Economics, Chiang Mai University, Chiang Mai
Background : Time horizon and discounting are important issues in economic evaluation studies and have an
impact on the priority of different programs.
Objective : Provides supporting rational and theories to propose the appropriate discount rate for both cost
and effect and time horizon for conducting economic evaluation studies in Thailand.
Material and Method: Describe the theories that explain time horizon for both the cost of a study and its effect.
Conclusion : The recommended uniform discount rate for both costs and effects at the base case is 3% with a
variance in range from 0-6% by sensitivity analysis. The time horizon should be long enough to capture the
full costs and effects of the programs.
Keywords : Time horizon, Discounting, Economic evaluation guideline, Thailand
