Abstract
Pharmacogenomic technologies can potentially be beneficial to patients and healthcare providers alike. Decision-makers allocating finite healthcare budgets require robust and timely evidence to support the cost-effectiveness of pharmacogenomic technologies. This paper describes the use of the quality adjusted life year (QALY) to inform decision-making drawing on the examples of National Institute for Health and Care Excellence (NICE) technology appraisals of pharmacogenomic technologies in the UK. Importantly, the paper explains two theoretical viewpoints that underpin the two main types of economic analysis: cost benefit analysis and cost-effectiveness analysis. The advantages and disadvantages of QALYs are discussed together with potential options for moving beyond the QALY such as the use of the capability approach and willingness to pay methods. However, the paper concludes that most health economists, as providers of information for societal decision-making, are probably not yet ready to depart from the QALY to inform resource allocation in the context of pharmacogenomic technologies.
Keywords: Cost benefit analysis, cost effectiveness analysis, decision-making, economic evaluation, QALYs, resource allocation.
Current Pharmacogenomics and Personalized Medicine
Title:Economics of Pharmacogenomics: Rethinking Beyond QALYs?
Volume: 11 Issue: 3
Author(s): Katherine Payne and Alexander J. Thompson
Affiliation:
Keywords: Cost benefit analysis, cost effectiveness analysis, decision-making, economic evaluation, QALYs, resource allocation.
Abstract: Pharmacogenomic technologies can potentially be beneficial to patients and healthcare providers alike. Decision-makers allocating finite healthcare budgets require robust and timely evidence to support the cost-effectiveness of pharmacogenomic technologies. This paper describes the use of the quality adjusted life year (QALY) to inform decision-making drawing on the examples of National Institute for Health and Care Excellence (NICE) technology appraisals of pharmacogenomic technologies in the UK. Importantly, the paper explains two theoretical viewpoints that underpin the two main types of economic analysis: cost benefit analysis and cost-effectiveness analysis. The advantages and disadvantages of QALYs are discussed together with potential options for moving beyond the QALY such as the use of the capability approach and willingness to pay methods. However, the paper concludes that most health economists, as providers of information for societal decision-making, are probably not yet ready to depart from the QALY to inform resource allocation in the context of pharmacogenomic technologies.
Export Options
About this article
Cite this article as:
Payne Katherine and Thompson J. Alexander, Economics of Pharmacogenomics: Rethinking Beyond QALYs?, Current Pharmacogenomics and Personalized Medicine 2013; 11 (3) . https://dx.doi.org/10.2174/18756921113119990001
DOI https://dx.doi.org/10.2174/18756921113119990001 |
Print ISSN 1875-6921 |
Publisher Name Bentham Science Publisher |
Online ISSN 1875-6913 |
- Author Guidelines
- Graphical Abstracts
- Fabricating and Stating False Information
- Research Misconduct
- Post Publication Discussions and Corrections
- Publishing Ethics and Rectitude
- Increase Visibility of Your Article
- Archiving Policies
- Peer Review Workflow
- Order Your Article Before Print
- Promote Your Article
- Manuscript Transfer Facility
- Editorial Policies
- Allegations from Whistleblowers
- Announcements
Related Articles
-
Reduction of Hyperproduction of Thyroid Autoantibodies in Patients without Disturbance of the Thyroid Function: New Patents
Recent Patents on Endocrine, Metabolic & Immune Drug Discovery Tumor Vasculature Targeting Through NGR Peptide-Based Drug Delivery Systems
Current Pharmaceutical Biotechnology Direct Modification of Bioactive Phenothiazines by Exposure to Laser Radiation
Recent Patents on Anti-Infective Drug Discovery The Interaction of NK Cells and Dendritic Cells in the Tumor Environment: How to Enforce NK Cell & DC Action Under Immunosuppressive Conditions?
Current Medicinal Chemistry Nelarabine- A New Purine Analog in the Treatment of Hematologic Malignancies
Reviews on Recent Clinical Trials Nanotherapeutics in Tumour Microenvironment for Cancer Therapy
Nanoscience & Nanotechnology-Asia Targeting Cancer Cells by an Oxidant-Based Therapy
Current Molecular Pharmacology Impact of Oncogenic Protein Tyrosine Phosphatases in Cancer
Anti-Cancer Agents in Medicinal Chemistry Thiopurine S-Methyltransferase as a Pharmacogenetic Biomarker: Significance of Testing and Review of Major Methods
Cardiovascular & Hematological Agents in Medicinal Chemistry Chromosomal Abnormalities, Cancer and Mouse Models The Critical Role of Translocation-Associated Genes in Human Cancer
Current Genomics Differential Role of Apoptosis and Autophagy Associated with Anticancer Effect of Lupulone (Hop β-Acid) Derivatives on Prostate Cancer Cells
Anti-Cancer Agents in Medicinal Chemistry Lumiflavin Enhances the Effects of Ionising Radiation on Ovarian Cancer Stem-Like Cells by Inhibiting Autophagy
Anti-Cancer Agents in Medicinal Chemistry AAV Hybrid Serotypes: Improved Vectors for Gene Delivery
Current Gene Therapy Locked Nucleic Acid Holds Promise in the Treatment of Cancer
Current Pharmaceutical Design Pediatric Health Effects of Chronic Exposure to Extremely Low Frequency Electromagnetic Fields
Current Pediatric Reviews Experimental Strategies in Autoimmunity: Antagonists of Cytokines and their Receptors, Nanocarriers, Inhibitors of Immunoproteasome, Leukocyte Migration and Protein Kinases
Current Pharmaceutical Design PDE-5 Inhibitors for BPH-Associated LUTS
Current Drug Targets P2X7 Receptors: Channels, Pores and More
CNS & Neurological Disorders - Drug Targets Therapeutic Strategies for Targeting BRAF in Human Cancer
Reviews on Recent Clinical Trials Evolutionary Advantage and Molecular Modes of Action of Multi-Component Mixtures Used in Phytomedicine
Current Drug Metabolism