Generalized Cost-Effectiveness Analysis (GCEA)
Right now, many health economists rely on a narrow methodology to determine a drug's "cost-effectiveness" (CEA) that excludes many components of a drug's individual and societal value. Essentially, they want to know if a drug is "worth it" at its price but are failing to ask the right questions. Insurers often use this bad math to deny access or charge high co-pays to patients for life-saving treatments prescribed to them by their physician.
In contrast, generalized cost-effectiveness analysis (GCEA) asks a broader set of questions:
- What will be the impact of this drug going generic?
- Will this drug ease the burden on caregivers?
- Will this treatment keep you out of the hospital and able to work and take care of family?
- And more.
NPLB has begun to fund a number of studies that seek to answer these questions and preserve patient access to lifesaving medicines. You can read some of our early findings and work below:
The Failure to Communicate Value
Watch NPLB's founder Peter Kolchinsky present at November's CNS Summit about the importance of innovators communicating the true value of drugs and NPLB's work.
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