In the latest issue of Health Affairs, Dana Goldman of the University of Southern California in Los Angeles and Tomas Philipson at the University of Chicago – two of the nation’s leading economists – debunk the most common misconceptions about cancer treatment.
They argue that evidence shows that patients value these treatments more highly than what is illustrated through traditional cost-effectiveness analysis. Furthermore, they assert coverage policies that place an undue burden on patients are socially wasteful and will likely discourage further innovation.
The authors highlight the fact that survival rates for all cancers increased by almost four years during the period 1998-2000, creating 23 million additional life-years and generating $1.9 trillion in additional value to society.
The abstract can be found at this link.