Please use this identifier to cite or link to this item: https://hdl.handle.net/2440/112081
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Type: Journal article
Title: The political economy of the assessment of value of new health technologies
Author: Karnon, J.
Edney, L.
Afzali, H.
Citation: Journal of Health Services Research and Policy, 2018; 23(2):116-122
Publisher: SAGE Publications
Issue Date: 2018
ISSN: 1355-8196
1758-1060
Statement of
Responsibility: 
Jonathan Karnon, Laura Edney and Hossein Afzali
Abstract: Health technology assessment provides a common framework for evaluating the costs and benefits of new health technologies to inform decisions on the public funding of new pharmaceuticals and other health technologies. In Australia and England, empirical analyses of the opportunity costs of government spending on new health technologies suggest more quality adjusted life years are being forgone than are being gained by a non-trivial proportion of funded health technologies. This essay considers the relevance of available empirical estimates of opportunity costs and explores the relationship between the public funding of health technologies and broader political and economic factors. We conclude that the benefits of a general reduction in the prices paid by governments for new technologies outweigh the costs, but evidence of informed public acceptance of reduced access to new health technologies may be required to shift the current approach to assessing the value of new health technologies.
Keywords: Health technology assessment; economic evaluation; opportunity costs; politics; reimbursement
Rights: © The Author(s) 2018 Reprints and permissions: sagepub.co.uk/journalsPermissions.nav
DOI: 10.1177/1355819617751816
Grant ID: http://purl.org/au-research/grants/nhmrc/1084387
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