Cost-Benefit of Development of an Immunization Vaccine for Students - Essay Example

"Cost-Benefit of Development of an Immunization Vaccine for Students" is a worthy example of a paper on wellness and lifestyle. Even though annual influenza vaccination has the capacity to decrease the considerable humanistic and economic costs in various nations, the rates of immunization are lower than the recommended levels, and there have been concerns as to whether immunization programs can cost-beneficial(Fairbrother et al., 2010). This paper seeks to compare the cost-benefit of the development of an immunization vaccine for students.

            Cost evaluation of the vaccination development of the vaccine for the students is considered from the perspective of the school providing the vaccine while concentrating on direct costs to the vaccination program such as the costs of the vaccines, materials required, administration costs and indirect costs that will be incurred by the program among others(Molinari et al., 2007). The costs of these outcomes can be estimated by considering the rent that has to be paid for the place where the vaccine will be administered and advertising the vaccination initiative.

             The costs of the vaccination can be calculated through considering the purchase price of the vaccines, the time taken by the physicians to administer the vaccines to the students, the time taken by the nurses to administer the vaccines to the students, and implementing the administration of the vaccine(Li & Leader, 2007). The net economic benefit associated with the vaccination program is calculated by subtracting the sum of the cost of vaccinated students and the vaccination cost from the cost of the students who are not vaccinated.

The benefits that emanate from the costs associated with the vaccination program are estimated to be the reduction of production losses and utilization of healthcare programs, which can be considered an investment in human capital. When assessing the return on this investment, the value of the resulting time that the students will be healthy can be measured in regard to the increased and renewed productivity of the students in school activities. The benefit associated with the advertising cost is the fact that more students will make themselves available for the vaccination exercise and this makes the initiative more successful. Vaccines take some time to develop and this implies growing them in the laboratory for some time, which reduced their profits margins as there are also numerous other processes that are involved. This will lengthen the time period for renting premises and in the process increase the associated costs. On the other hand, taking the time to come up with an effective vaccine for the students will mean that it will have a higher likelihood of being effective.

The cost-benefit of the vaccine fundamentally comes down to looking at the numbers that will consider the risks associated with the vaccine versus the risks of disease. The total number of students who will develop sickness that may have been prevented by the vaccine will be higher than the number of people who the vaccine will affect in one way or the other. This fact may be ignored since the exceptions that include the students whose health will be affected as a result of a reaction to the vaccine, are likely to be more evident than numerous cases of the disease that will never occur. Nonetheless, the truth is in the numbers as from previous research, the benefits of the vaccine are more than the risks involved and this makes it the surest way of making sure the students remain healthy.

Cost item

Cost

Cost of vaccines and materials

Cost of administration by a nurse

Cost of administration by Doctors

Cost of renting a premises

Cost of advertising the vaccine