The Value Of Innovation
How do you define the value of a cancer treatment?
The discussion reignites each time a new cancer medicine becomes available to patients. In practice, assessing the value of cancer medicine must include many factors, including:
- Clinical benefits, such as better overall health outcomes, providing treatments for patients who previously had no treatment options, or fewer adverse side effects.
- Economic gains, such as a reduction in the use and costs of other health care services, and improvements in health that contribute to economic productivity.
- Lifestyle improvements, such as a better quality of life and well-being and a positive impact on caregivers.
Above all, our definition of value must reflect the preferences and beliefs of cancer patients, for whom each treatment choice has a profound implication on health and quality of life.
Since President Nixon declared the war against cancer nearly 40 years ago, we’ve seen great progress against cancer: overall cancer mortality rates have decreased by 20%. To continue this progress, public policies must foster research and discovery, reflect patient preferences, and recognize the value of continuous innovation for cancer patients.