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Beyond cost‐effectiveness: A five‐step framework for appraising the value of health technologies in Asia‐Pacific
Author(s) -
Finkelstein Eric A.,
Krishnan Anirudh,
Doble Brett
Publication year - 2020
Publication title -
the international journal of health planning and management
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.672
H-Index - 41
eISSN - 1099-1751
pISSN - 0749-6753
DOI - 10.1002/hpm.2851
Subject(s) - subsidy , health technology , asia pacific , cost effectiveness , resource (disambiguation) , value (mathematics) , cost effectiveness analysis , cost–benefit analysis , business , actuarial science , risk analysis (engineering) , public economics , economics , environmental economics , health care , computer science , economic growth , political science , international trade , computer network , machine learning , law , market economy
Summary Given resource constraints and the potential for increasingly high‐cost, cost‐effective medicines to become available, policymakers require strategies that go beyond cost‐effectiveness when making resource allocation decisions. This manuscript presents a five‐step framework that complements traditional health technology assessment (HTA) guidance documents that policymakers in Asia‐Pacific and elsewhere may consider when setting up HTA guidelines and/or evaluating whether or not to subsidize a medicine or other health innovations. The framework recommends that subsidy decisions be based on five criteria: the relative burden of the condition as compared with other conditions (step 1), comparative and cost‐effectiveness of the medicine (steps 2 and 3), the short‐term impact on the budget (step 4), and other considerations including patient and societal preferences (step 5). Our approach, which is a complement to traditional HTA guidance documents, is not prescriptive but provides an evidence‐based framework that HTA agencies in Asia‐Pacific can follow as they aim to deliver value‐based medicines to their constituents.