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KMID : 1124020220380020065
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Korean Social Security Studies
2022 Volume.38 No. 2 p.65 ~ p.102
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Evaluating the Value of Long-term Care Service based on the Willingness-to-pay: Focusing on Home-Visit Care Service
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Nam Jae-Wook
Han Ki-Myung
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Abstract
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The purpose of this study is to find an alternative value evaluation method including the social value or positive externality created by social services. To this end, this study applied a value evaluation method based on users’ WTP in the field of Home-Visit Care Service for older adults, and compared it with the existing service unit price. As a result of the analysis, the WTP for the survey participants in this study was about 1.87 to 1.99 times higher than the current unit price of the Home-Visit Care Service. This means that the actual value of the Home-Visit Care Service is higher than the market present. Among the respondents, respondents with service experience expressed a higher WTP, and their WTP was higher when their previous service satisfaction was high. Moreover, Respondents recognized that service providers were the most important in terms of service satisfaction and value. Taken together, Home-Visit Care Service for older adults actually create higher value than the existing value evaluation, and the value can be even higher by expanding service experience and improving service quality. This suggests the need to expand public investment in visiting care services, and the most important investment area is manpower.
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KEYWORD
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Social Services, Long-term Care Insurance, Home-Visit Care Service, Willingness-to-pay(WTP), Contingent Valuation Method(CVM)
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