Since 2014
Valuing new medicines in the early 21:st century
Nordic Journal of Health Economics
View Archive Info| Field | Value | |
| Title |
Valuing new medicines in the early 21:st century
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| Creator |
Steen Carlsson, Katarina; Department of Clinical Sciences, Malmö, Lund University, Sweden The Swedish Institute for Health Economics, IHE, Lund, Sweden Jönsson, Bengt; Stockholm School of Economics, Stockholm, Sweden |
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| Subject |
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valuing medicines, ex post valuation, register based analyses, regional variation in utilization I11, O32, O33 |
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| Description |
What is the actual value of new medicines? The answer to this question is the key to rational use of new technologies in health care and for design of appropriate incentives for innovation. In this paper we present methods, data and study results for valuing new medical technologies in a life cycle perspective, relevant for development of a new approach to contract and payment for innovation that can replace present systems for pricing and reimbursement. Focus is on value in clinical practice, and on the data needs and methods needed for the development of outcome-based payment systems that balances risks and rewards for innovation in health care. We provide an overview of studies from the Swedish context on the value of new medicines introduced in the treatment of diabetes, cancer, cardiovascular disease and rheumatoid arthritis. These studies using national health data and quality registers emphasise the importance of continuing efforts to collect relevant data for assessment of value after a medicine reaches the market and starts to be used in clinical practice. It is only when medicines are used in clinical practice that the benefits for real-world patient populations can be identified, measured and valued. Analyses of real-world data will also assist further development and tailoring of treatment strategies to optimize the value of the new technology. While an effective patent system rewards innovation for a limited period of time, many innovations may continue to provide value to society long after patent protection, and these values must be included in the assessment of value of innovation.
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| Publisher |
University of Oslo
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| Contributor |
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| Date |
2017-12-16
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| Type |
info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion — |
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| Format |
application/pdf
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| Identifier |
https://www.journals.uio.no/index.php/NJHE/article/view/5538
10.5617/njhe.5538 |
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| Source |
Nordic Journal of Health Economics; Vol 5, No 1 (2017): Special issue: The value of new technology; pp. 7-22
1892-9710 1892-9729 |
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| Language |
eng
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| Relation |
https://www.journals.uio.no/index.php/NJHE/article/view/5538/5018
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| Rights |
Authors who publish with this journal agree to the following terms:Authors retain copyright and grant the journal right of first publication with the work simultaneously licensed under a Creative Commons Attribution License that allows others to share the work with an acknowledgement of the work's authorship and initial publication in this journal. Authors are able to enter into separate, additional contractual arrangements for the non-exclusive distribution of the journal's published version of the work (e.g., post it to an institutional repository or publish it in a book), with an acknowledgement of its initial publication in this journal. Authors are permitted and encouraged to post their work online (e.g., in institutional repositories or on their website) prior to and during the submission process, as it can lead to productive exchanges, as well as earlier and greater citation of published work.
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