Many countries with national healthcare systems or payers such as insurance companies use cost-effectiveness analyses to decide whether to cover new medicines, balancing treatment costs with potential health benefits.
May 30 2024University of Miami Miller School of Medicine
"Cost-effectiveness analyses can help establish a value-based price for discussions with payers," including insurance companies and national health care systems, said senior author Gilberto Lopes, M.D., chief of Medical Oncology and medical director for International Affairs at Sylvester. The drug extends lifespan by more than 18 months compared to placebo, according to an analysis of five years of data from the PACIFIC clinical trial.
To quantify health benefits, the researchers used a measurement commonly used in economic evaluations called quality-adjusted life years . This data combines lifespan gains with information on quality of life. The researchers went on to show how reduced industry pricing can improve cost-effectiveness. This analysis used discounted prices in Singapore that are available through an industry pricing program. The program brought the cost-effectiveness ratio down from $153,461 per QALY to $45,164 -; below the official threshold in Singapore.
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