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The Burrill Report (August 7, 2009): Examining the True Cost of Medical Innovation (.MP3,11.41 Mb)
A new generation of cancer drugs is providing greater results for patients, but they carry a heavy price tag. The average cost of providing a colorectal cancer patient with a 24-week chemotherapy regimen increased to $36,300 in 2005, up from just $127 in 1993. But researchers at Cornell University argue that the true cost of cancer drugs – once longevity and quality of life are considered – is actually as much as 30 percent less than a decade ago. We spoke to study author Sean Nicholson, associate professor in the Department of Policy Analysis and Management at Cornell University and a Faculty Research Fellow at the National Bureau of Economic Research, about the study, how he and his colleague arrived at those numbers and how policymakers, payors and patients should measure the value of innovative medical technologies that may be more expensive than their predecessors, but provide important new benefits.
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HEALTHCARE REFORM | August 07, 2009
How Much Are Breakthroughs Worth?
Podcast: August 7, 2009[Please login to post comments]
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