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Article: Cost effectiveness can be part of benefit judgments
- Article from:
- Managed Healthcare Executive
- Article date:
- December 1, 2007
- Author:
CopyrightCopyright Advanstar Communications, Inc. Dec 2007. Provided by ProQuest LLC. (Hide copyright information)
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Cost-effectiveness comparisons come into play when clinical effectiveness is an even tradeoff
HOW DO YOU PUT A PRICE TAG on health? If you're talking about a new, expensive treatment for your mother's cancer, the price seems irrelevant. For payers struggling with unmanageable cost increases in the business of delivering care, however, price cannot be overlooked. Insurers don't necessarily deny coverage of a treatment just because it's expensive, but they would be remiss if they didn't take cost into consideration, as well as safety and effectiveness. Financial cost, clinical effectiveness and ultimate value remain a challenging matrix to measure, but have great potential for system ...