When I read about cost, value, and benefit my ears certainly perk up. If words like "cost" and "benefit" are troublemakers, "value" is a hardened criminal.
It is problematic to compare these conversations when few comparisons, at least the ones reaching the media, include meaningful model-based economic evaluations or appraisals of methodology implemented to support the comparisons.
A recent study highlighted the importance of including adverse event data in economic analyses. Including Adverse Drug Events in Economic Evaluations of Anti-Tumour Necrosis Factor-_α Drugs for Adult Rheumatoid Arthritis: A Systematic Review of Economic Decision Analytic Models.
The parallels with evaluation of cancer therapies can be made. Looking at rheumatoid evaluations, 43 model-based economic evaluations of biologics for adult RA were identified from 2,483 topic relevant studies. Nine studies included incidence and costs of adverse drug events or ADEs and were included in the review by Heather and colleagues. Unfortunately precise methods used to incorporate ADEs were not uniformally disclosed and a lack of consistent terminology limited direct comparisons.
Physician and patients need information to guide care decisions especially when adverse event profiles differ between regimens--directly impacting quality of life.
Several value assessment tools emerged in response to the escalating drug prices. The focus is not just about the cost, but it’s about the value and quality of cancer care we can afford to deliver to our patients. Defining value in healthcare is complicated and elusive; it depends on the perspectives of the stakeholders. The definition on value of prescription drugs also varied from different organizations (e.g., Institute for Clinical and Economic Review (ICER), ASCO.--Are we ready to assess the value of cancer drugs?
Moving onto value assessments in cancer care, you may have heard about the National Comprehensive Cancer Network (NCCN) evidence blocks--one of several frameworks integrating value into healthcare decisions at the point of care.
Many of the determinations are subjective and will vary based on the interpretation, for example, how will "very expensive" be quantified or differentiated from "expensive"?
You can reach your own conclusions about overall spend and quality of care. In the US, the level of spending was twice the Organisation for Economic Co-operation and Development (OECD) average (seen in red).
Thoughtful discussions about content development and outcomes analytics that apply the principles and frameworks of health policy and economics to persistent and perplexing health and health care problems...
Bonny is a data enthusiast applying curated analysis and visualization to persistent tensions between health policy, economics, and clinical research in oncology.