Economic Evaluation as a Tool in Emerging Technology Assessment

Area of Science:

• Health Technology Assessment
• Health Economics
• Medical Device Evaluation

Background:

• Medical technologies, including medical devices (MD) and in vitro diagnostics (IVD), are integral to modern healthcare.
• Introducing new technologies involves analytical/clinical assessment, utility determination, and economic evaluation for reimbursement.
• Existing guidelines for economic methods are more developed for early-stage IVD development compared to broader medical technologies.

Purpose of the Study:

• To discuss economic evaluations of emerging medical technologies, focusing on point-of-care testing (POCT) and genetic testing.
• To highlight the factors influencing the economic outcomes of POCT studies.
• To review the cost-effectiveness of genetic testing-guided treatments.

Main Methods:

• Literature search on economic evaluations of emerging medical technologies.
• Analysis of factors affecting POCT economic study results (perspective, effectiveness values, clinical pathway understanding).
• Review of clinical utility and cost-effectiveness analyses for genetic testing-guided treatments.

Main Results:

• POCT economic study outcomes vary based on perspective, effectiveness metrics, and clinical pathway understanding.
• There is a need for improved understanding of care pathways and resource utilization with POCT implementation.
• Genetic testing-guided treatments are frequently found to be cost-saving or cost-effective compared to standard care.

Conclusions:

• Economic evaluation is essential for emerging medical technologies like POCT and genetic testing.
• Further research is needed to clarify the economic impact and optimal implementation of POCT.
• Genetic testing-guided treatments demonstrate significant economic benefits, supporting their integration into clinical practice.