Editorial: Pharmacoeconomics in the era of health technology assessment and outcomes research to prioritize resource use, innovation and investment
Abstract
Health economic evaluations in health technology assessment (HTA) focus on balancing the costs and expected benefits of interventions compared to the use of standard-of-care to leverage value to patients and healthcare payers. Pharmaco-economic (PE) studies, in particular, assess the therapeutic value of medical technologies, such as drugs or devices, and encompass multidimensional aspects, e.g. assessments of mutually exclusive drugs options, combination with pre-emptive pharmaco-genetic (PGx) testing to limit adverse reactions, or therapeutic drug monitoring as a precision medicine procedure. The extent to which findings of PE evaluations are translated into informed policy decisions depend on national health care systems and population expectations. PE evaluations have the potential to streamline decision making and innovation in a wide range of therapeutic areas by determining whether the expense incurred by novel treatments is worthwhile, given the willingness-to-pay for health gains achieved, for example measured as quality-adjusted life-years (QALY). The QALY conceptual framework was first introduced in the 1960s in studies on chronic renal failure (Klarmann et al., 1968): authors reported that the quality-of-life (QoL) with kidney transplant was 25% higher than that with dialysis. The cost per life-year gained by different therapeutic options was estimated with and without the quality adjustment. More than 50 years later, despite the inherent limitations and ethical…
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