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Willingness to pay and financing preferences for COVID-19 vaccination in China.
Vaccine. 2021 04 01; 39(14):1968-1976.V

Abstract

BACKGROUND

The COVID-19 pandemic has caused significant diseases and economic burdens in the world. Vaccines are often considered as a cost-effective way to prevent and control infectious diseases, and the research and development of COVID-19 vaccines have been progressing unprecedently. It is needed to understand individuals' willingness to pay (WTP) among general population, which provides information about social demand, access and financing for future COVID-19 vaccination.

OBJECTIVE

To investigate individuals' WTP and financing mechanism preference for COVID-19 vaccination during the pandemic period in China.

METHODS

During March 1-18, 2020, we conducted a network stratified random sampling survey with 2058 respondents in China. The survey questionnaires included out-of-pocket WTP, financing mechanism preference as well as basic characteristics of the respondents; risk perception and impact of the COVID-19 pandemic; attitude for future COVID-19 vaccination. Multivariable Tobit regression was used to determine impact factors for respondents' out-of-pocket WTP.

RESULTS

The individuals' mean WTP for full COVID-19 vaccination was CNY 254 (USD 36.8) with median of CNY 100 (USD 14.5). Most respondents believed that governments (90.9%) and health insurance (78.0%) needed to pay for some or full portions of COVID-19 vaccination, although 84.3% stated that individuals needed to pay. Annual family income, employee size in the workplace, and whether considering the COVID-19 pandemic in China in a declining trend affected respondents' WTP significantly.

CONCLUSION

The findings demonstrated the individuals' WTP for COVID-19 vaccination in China and their preferences for financing sources from individuals, governments and health insurance. And to suggest an effective and optimal financing strategy, the public health perspective with equal access to COVID-19 vaccination should be prioritized to ensure a high vaccination rate.

Links

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Authors+Show Affiliations

Wang J
School of Public Health, Peking University, Beijing 100083, China; China Center for Health Development Studies, Peking University, Beijing 100083, China. Electronic address: jiahaowang@pku.edu.cn.
Lyu Y
School of Public Health, Peking University, Beijing 100083, China; China Center for Health Development Studies, Peking University, Beijing 100083, China. Electronic address: yun.lyu@bjmu.edu.cn.
Zhang H
School of Public Health, Peking University, Beijing 100083, China; China Center for Health Development Studies, Peking University, Beijing 100083, China. Electronic address: haijunzhang@pku.edu.cn.
Jing R
School of Public Health, Peking University, Beijing 100083, China; China Center for Health Development Studies, Peking University, Beijing 100083, China. Electronic address: rzjing2015@hsc.pku.edu.cn.
Lai X
School of Public Health, Peking University, Beijing 100083, China; China Center for Health Development Studies, Peking University, Beijing 100083, China. Electronic address: laixiaozhen@pku.edu.cn.
Feng H
School of Public Health, Peking University, Beijing 100083, China; China Center for Health Development Studies, Peking University, Beijing 100083, China. Electronic address: yffenghuang@pku.edu.cn.
Knoll MD
International Vaccine Access Center, Bloomberg School of Public Health, Johns Hopkins University, Baltimore, MD 21205, USA. Electronic address: mknoll2@jhu.edu.
Fang H
China Center for Health Development Studies, Peking University, Beijing 100083, China; Peking University Health Science Center-Chinese Center for Disease Control and Prevention Joint Center for Vaccine Economics, Beijing 100083, China; Key Laboratory of Reproductive Health National Health Commission of the People's Republic of China, Beijing 100083, China. Electronic address: hfang@hsc.pku.edu.cn.

MeSH

AdolescentAdultCOVID-19COVID-19 VaccinesChinaFemaleHealth ExpendituresHumansMaleMiddle AgedPandemicsPatient PreferenceSurveys and QuestionnairesVaccinationYoung Adult

Pub Type(s)

Journal Article
Research Support, Non-U.S. Gov't

Language

eng

PubMed ID

33714653

Citation

Wang, Jiahao, et al. "Willingness to Pay and Financing Preferences for COVID-19 Vaccination in China." Vaccine, vol. 39, no. 14, 2021, pp. 1968-1976.
Wang J, Lyu Y, Zhang H, et al. Willingness to pay and financing preferences for COVID-19 vaccination in China. Vaccine. 2021;39(14):1968-1976.
Wang, J., Lyu, Y., Zhang, H., Jing, R., Lai, X., Feng, H., Knoll, M. D., & Fang, H. (2021). Willingness to pay and financing preferences for COVID-19 vaccination in China. Vaccine, 39(14), 1968-1976. https://doi.org/10.1016/j.vaccine.2021.02.060
Wang J, et al. Willingness to Pay and Financing Preferences for COVID-19 Vaccination in China. Vaccine. 2021 04 1;39(14):1968-1976. PubMed PMID: 33714653.
* Article titles in AMA citation format should be in sentence-case
TY - JOUR T1 - Willingness to pay and financing preferences for COVID-19 vaccination in China. AU - Wang,Jiahao, AU - Lyu,Yun, AU - Zhang,Haijun, AU - Jing,Rize, AU - Lai,Xiaozhen, AU - Feng,Huangyufei, AU - Knoll,Maria Deloria, AU - Fang,Hai, Y1 - 2021/02/27/ PY - 2020/08/24/received PY - 2021/02/22/revised PY - 2021/02/24/accepted PY - 2021/3/15/pubmed PY - 2021/4/7/medline PY - 2021/3/14/entrez KW - COVID-19 KW - Financing KW - SARS-CoV-2 KW - Vaccine KW - Willingness to pay SP - 1968 EP - 1976 JF - Vaccine JO - Vaccine VL - 39 IS - 14 N2 - BACKGROUND: The COVID-19 pandemic has caused significant diseases and economic burdens in the world. Vaccines are often considered as a cost-effective way to prevent and control infectious diseases, and the research and development of COVID-19 vaccines have been progressing unprecedently. It is needed to understand individuals' willingness to pay (WTP) among general population, which provides information about social demand, access and financing for future COVID-19 vaccination. OBJECTIVE: To investigate individuals' WTP and financing mechanism preference for COVID-19 vaccination during the pandemic period in China. METHODS: During March 1-18, 2020, we conducted a network stratified random sampling survey with 2058 respondents in China. The survey questionnaires included out-of-pocket WTP, financing mechanism preference as well as basic characteristics of the respondents; risk perception and impact of the COVID-19 pandemic; attitude for future COVID-19 vaccination. Multivariable Tobit regression was used to determine impact factors for respondents' out-of-pocket WTP. RESULTS: The individuals' mean WTP for full COVID-19 vaccination was CNY 254 (USD 36.8) with median of CNY 100 (USD 14.5). Most respondents believed that governments (90.9%) and health insurance (78.0%) needed to pay for some or full portions of COVID-19 vaccination, although 84.3% stated that individuals needed to pay. Annual family income, employee size in the workplace, and whether considering the COVID-19 pandemic in China in a declining trend affected respondents' WTP significantly. CONCLUSION: The findings demonstrated the individuals' WTP for COVID-19 vaccination in China and their preferences for financing sources from individuals, governments and health insurance. And to suggest an effective and optimal financing strategy, the public health perspective with equal access to COVID-19 vaccination should be prioritized to ensure a high vaccination rate. SN - 1873-2518 UR - https://www.unboundmedicine.com/medline/citation/33714653/Willingness_to_pay_and_financing_preferences_for_COVID_19_vaccination_in_China_ DB - PRIME DP - Unbound Medicine ER -