Health Affairs June 1, 2020
Cost-effectiveness analyses, which are often conducted to evaluate new medicines, use a standardized 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. These treatments have the potential to save lives and also have an immense impact on overall quality of life. However, there are unique attributes of many serious diseases and novel innovative medicines, that, when combined,...
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