MICRO-COSTING METHODOLOGY
We developed methods for measuring costs grounded in the theory and process of identifying, estimating, and valuing resource costs. This provides alternative research avenues in economic evaluation and possibilities for addressing cost escalation and cost control in health policy. We developed a micro-costing methodology and protocol and are developing a checklist to standardize and provide guidelines for conducting, reporting, and appraising micro-costing studies. This enhances the consistency, transparency, and comparability of such studies. Our micro-costing method, precision costing, is found in leading health economics textbooks, the Second Panel on Cost-Effectiveness in Health and Medicine, and the United States Agency for Health Care Research and Quality.
Micro-costing findings surmount the technical hurdle of reflecting the true costs to health care and public health systems and to society, and provide transparent and consistent estimates. This is precision costing. Our method has been empirically tested in a series of cost and cost-effectiveness studies.
