Annuitizing the human capital investment costs of health service professionals

Netten, Ann and Knight, John R. P. (1999) Annuitizing the human capital investment costs of health service professionals. Health Economics, 8 (3). pp. 245-255. ISSN 1057-9230. (The full text of this publication is not available from this repository)

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Abstract

When evaluating initiatives that make innovative uses of staff it is important to consider the long-term cost consequences of training an appropriately qualified workforce. In order to incorporate the costs of qualifying professionals we need both the costs themselves and an appropriate method of annuitizing these costs. This paper focuses on the latter and describes an approach to estimating the expected working life of health service professionals and a method of annuitization that takes into consideration patterns of employment over time. Analyses of the census and Labour Force Survey result in estimates of expected working lives of between 19 and 22 years for nurses and 26 and 29 years for doctors. The implications of different assumptions about the distribution of these years for the equivalent annual cost are identified. Copyright (C) 1999 John Wiley & Sons, Ltd.

Item Type: Article
Uncontrolled keywords: training costs; annuitization; employment patterns
Subjects: H Social Sciences
Divisions: Faculties > Social Sciences > School of Economics
Depositing User: I.T. Ekpo
Date Deposited: 29 Mar 2009 20:40
Last Modified: 25 Apr 2014 08:16
Resource URI: http://kar.kent.ac.uk/id/eprint/16960 (The current URI for this page, for reference purposes)
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