Willingness to Pay (WTP) versus Medical Need
A health economic analysis is usually measured over three dimensions: delta costs, health gain (expressed in QALYs or live years gained) and time. Together, these three parameters result in an ‘incremental cost-effectiveness ratio’, or ‘ICER’ for short. The ‘ICER‘ is a well-known measure to assess the extra cost to be invested to win one QALY […]
The value of ‘Net Monetary Benefit’
How to indicate if an innovation is worthwhile to pay for in view of the claimed benefit it will bring? Per assumption, innovation will change ‘something’ versus the current situation . In theory, the goal of innovation is to generate an improvement versus the current situation. Healthcare is a business focusing on optimisation of resource […]
Quality of Life – be vigilant!
Δ = innovation – SoC In general, in the world of market access of health care products, quality of life (QoL) is expressed in ‘utilities’. The healthier you are, the higher your utility score is. When performing health economic assessments, the difference in utilities for patients (delta utility) between the situation without and the situation […]