Louis P. Garrison

TL;DR: This article examines performance-based risk-sharing agreements for pharmaceuticals from a theoretical economic perspective and concludes that a value of information/real option framework is likely to be the most helpful approach for understanding the costs and benefits of risk sharing.

TL;DR: In this article, the authors define a health economics approach to the concept of value in health care systems, and discuss the relationship of value to perspective and decision context, that is, how recently proposed value frameworks vary by the types of decisions being made and by the stakeholders involved; describing the patient perspective on value because the patient is a key stakeholder, but one also wearing the hat of a health insurance purchaser.

TL;DR: A more comprehensive economic evaluation is called for that could include novel elements of value (e.g., insurance value and equity) as part of either an "augmented" cost-effectiveness analysis or a multicriteria decision analysis.

TL;DR: A formal risk-benefit framework may accelerate the utilization and practice-based evidence development of genomic tests that pose low risk and offer plausible clinical benefit, while discouraging premature use of tests that provide little benefit or pose significant health risks compared with usual care.

TL;DR: The Task Force recommends that for CEAs of brand name drugs performed from a societal perspective, either CEA analysts use a cost that more accurately reflects true societal drug costs or refer to their analyses as from a "limited societal perspective."