Posted by Michael Wonder on 02 Jun 2020
Traditional cost effectiveness formulas and precision medicines
1 June 2020 - Cost effectiveness analyses, which are often conducted to evaluate new medicines, use a standardised framework to inform health care decision makers.
However, a one-size-fits-all approach to evaluating cost-effectiveness is not adequate for every medicine. Current evaluation approaches often fail to capture unique attributes and circumstances, especially when they are applied to innovative medicines for rare, genetic, chronic diseases.
The current era of precision medicine is producing transformative treatments for previously intractable diseases and disrupting the standard of care for how they are treated or even cured.
