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[An economic perspective on targeted treatments]
1Inserm UMR912, Sciences économiques et sociales de la santé et traitement de l'information médicale (SESSTIM), 13006, Marseille, France - Université Aix Marseille, UMRS912, IRD (Institut de recherche pour le développement), 13006, Marseille, France.
Medecine Sciences : M/S
|November 20, 2014
Summary
Personalized medicine offers tailored treatments but raises cost concerns. Societal willingness-to-pay for quality-adjusted life years (QALY) can clarify cost-effectiveness, guiding treatment decisions.
Area of Science:
- Pharmacoeconomics
- Health Technology Assessment
- Personalized Medicine
Context:
- Drug research faces a crisis, with patients demanding more treatment involvement.
- Emerging personalized medicine necessitates evaluating clinical benefits against costs.
- Targeted therapies require identifying suitable patients and avoiding toxicity in others.
Purpose:
- To investigate societal willingness-to-pay for quality-adjusted life years (QALY).
- To clarify cost-effectiveness studies of personalized medicine.
- To disentangle the interdependence between diagnostic test pricing and treatment costs.
Summary:
- Personalized medicine offers tailored treatments, but determining cost-effectiveness is complex.
- The pricing of diagnostic tests and treatments are interdependent, obscuring cost-effectiveness conclusions.
- Societal willingness-to-pay for QALY gains can resolve these economic complexities.
Impact:
- Provides a framework for clearer cost-effectiveness analyses in personalized medicine.
- Supports informed decision-making regarding resource allocation for targeted therapies.
- Helps reconcile the economic challenges of implementing precision medicine in healthcare.