Logo Medical Science Monitor

Call: +1.631.470.9640
Mon - Fri 10:00 am - 02:00 pm EST

Contact Us

Logo Medical Science Monitor Logo Medical Science Monitor Logo Medical Science Monitor

01 March 2006

Discounting and risk characteristics in clinical decision-making.

Monica Ortendahl, James F. Fries

Med Sci Monit 2006; 12(3): RA41-45 :: ID: 447118

Abstract

Time-related aspects have attracted an increasing interest in medical decisions.Health promotion often works toward remote goals, and many clinical judgments and decisions include anexchange of costs today for benefits in the future. The concept of diminishing value over time is positivediscounting when the benefits occur so far in the future that they seem of little value relative to theimmediate cost. If there is a preference to live for the present rather than save for the future, sucha preference might not contribute to good health according to a lower discount rate. As discounting isrelated to risk an analysis of uncertainty is required being an unavoidable condition in health work.Shared decision-making between doctor and patient has increasingly been emphasized, where risk characteristicsand time-related aspects should be taken into account to reach a decision based upon mutual agreement.The framework of time and risk for analysis can perform a useful role in clinical judgments and decisions,where framing of different features of risk might diminish discounting and increase compliance to treatment.A summary of valuation factors in medical decision making is presented: (a) long-term decisions are sensitiveto discount rates; (b) discount rates vary by domain, by outcome, by individuals and by level of certainty;(c) probability discounting is used if the risk is perceived as controllable; (d) the doctor uses expectedvalue, the patient is risk aversive; (e) asymmetric discounting for patients and doctors gives poor compliance;(f) discount rates are influenced by framing.

Keywords: Attitude to Health, Attitude of Health Personnel, Costs and Cost Analysis, Decision Making, Physician-Patient Relations, Risk Factors, Uncertainty

0 Comments

Editorial

01 August 2022 : Editorial  

Editorial: Long-Term Effects of Symptomatic and Asymptomatic SARS-CoV-2 Infection in Children and the Changing Pathogenesis of Common Childhood Viruses Driven by the COVID-19 Pandemic

Dinah V. Parums
Science Editor, Medical Science Monitor, International Scientific Information, Inc., Melville, NY, USA

DOI: 10.12659/MSM.937927

Med Sci Monit 2022; 28:e937927

In Press

08 Aug 2022 : Clinical Research  

A 3-Year Clinical Evaluation of Endodontically Treated Posterior Teeth Restored with Resin Nanoceramic Comp...

Med Sci Monit In Press; DOI: 10.12659/MSM.937331  

08 Aug 2022 : Clinical Research  

Hemoglobin/Red Blood Cell Distribution Width Ratio in Peripheral Blood Is Positively Associated with Progno...

Med Sci Monit In Press; DOI: 10.12659/MSM.937146  

05 Aug 2022 : Clinical Research  

A Retrospective Study of 98 Elderly Patients with High-Risk Lateral Femoral Wall Intertrochanteric Hip Frac...

Med Sci Monit In Press; DOI: 10.12659/MSM.936923  

04 Aug 2022 : Clinical Research  

Radiological Assessment of Prevalance and Quality of Periapical Status of Endodontic Treatments

Med Sci Monit In Press; DOI: 10.12659/MSM.936569  

Most Viewed Current Articles

30 Dec 2021 : Clinical Research  

Retrospective Study of Outcomes and Hospitalization Rates of Patients in Italy with a Confirmed Diagnosis o...

DOI :10.12659/MSM.935379

Med Sci Monit 2021; 27:e935379

13 Nov 2021 : Clinical Research  

Acceptance of COVID-19 Vaccination and Its Associated Factors Among Cancer Patients Attending the Oncology ...

DOI :10.12659/MSM.932788

Med Sci Monit 2021; 27:e932788

08 Mar 2022 : Review article  

A Review of the Potential Roles of Antioxidant and Anti-Inflammatory Pharmacological Approaches for the Man...

DOI :10.12659/MSM.936292

Med Sci Monit 2022; 28:e936292

01 Nov 2020 : Review article  

Long-Term Respiratory and Neurological Sequelae of COVID-19

DOI :10.12659/MSM.928996

Med Sci Monit 2020; 26:e928996

Your Privacy

We use cookies to ensure the functionality of our website, to personalize content and advertising, to provide social media features, and to analyze our traffic. If you allow us to do so, we also inform our social media, advertising and analysis partners about your use of our website, You can decise for yourself which categories you you want to deny or allow. Please note that based on your settings not all functionalities of the site are available. View our privacy policy.

Medical Science Monitor eISSN: 1643-3750
Medical Science Monitor eISSN: 1643-3750