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Estimated Financial Savings From Clinical Studies at Oslo Myeloma Center in the Period 2015-2021
Lars Henrik Dahl Hamnvik1, Stella Eide-Olsen2, Arne Fosseng3
1Oslo Myeloma Center, Department of Hematology, Oslo University Hospital, Oslo, Norway.
Background:
The number of clinical studies in the Western world has been declining the last decade. Clinical studies offer valuable opportunities for cancer patients to access new treatments and serve as arenas for learning and competence development for health care workers. In addition to this, clinical studies can significantly contribute to financial savings for the health care system through the provision of drugs. The extent of these savings have not been evaluated before.
Materials And Methods:
We assessed the financial savings from drugs provided in clinical studies conducted at Oslo Myeloma Center between 2015 and 2021. Only drugs that had marketing license or another equivalent drug with marketing license were considered to estimate savings.
Results:
A total of 314 patients across 24 different studies were given treatment with drugs possessing marketing license. Drugs approved for clinical use and reimbursed by the national health care system gave a financial saving of 20.3 million USD and was considered a direct saving. Drugs not approved for clinical use, but having equivalent approved alternatives yielded a financial saving of 4.7 million USD.
Conclusion:
Clinical studies not only offer new opportunities for patients and advancements in medical treatment and knowledge but also contribute significantly to financial saving for the health care system through reduced drug expenses.
Insights
Clinical studies significantly reduce healthcare costs by providing drugs, saving over $25 million USD in 24 studies at Oslo Myeloma Center. These trials offer cancer patients access to novel treatments while cutting expenses.
Area of Science:
- Oncology
- Health Economics
Background:
- Declining clinical study enrollment in Western countries poses challenges for patient access to novel therapies.
- Clinical studies are crucial for healthcare professional development and advancing medical knowledge.
- The financial impact of drugs provided through clinical studies on healthcare systems remains largely unevaluated.
Purpose of the Study:
- To quantify the financial savings generated by drugs supplied within clinical studies.
- To assess the economic contribution of clinical trials to the healthcare system.
Main Methods:
- Financial savings from drugs in clinical studies at Oslo Myeloma Center (2015-2021) were evaluated.
- Analysis included only drugs with existing marketing authorization or equivalent alternatives.
Main Results:
- A total of 314 patients across 24 studies received treatments with marketing-authorized drugs.
- Direct savings of $20.3 million USD were realized from approved and reimbursed drugs.
- An additional $4.7 million USD was saved from unapproved drugs with approved alternatives.
Conclusions:
- Clinical studies provide substantial financial savings to healthcare systems via reduced drug expenditures.
- These trials offer vital patient access to new treatments and foster medical knowledge advancement.
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