United States health care costs are some of the highest in the world and they continue to increase annually. It has been estimated that within the next decade, one in every five dollars spent—or 20% of the gross domestic product in the U.S.—will be spent on health care. The cost of medications represents a significant portion of those rising costs. Clinical trials usually evaluate a drug's efficacy and sometimes its effectiveness, while economic evaluation offers tools to determine economic efficiency.
To prepare, review the Bombardier & Maetzel article, "Pharmacoeconomic Evaluation of New Treatments: Efficacy Versus Effectiveness Studies?" Consider the implications of changing the way clinical trials are conducted and how their findings are evaluated.
Post a comprehensive response to the following:
• Should economic evaluation play a role in the FDA's new drug approval process? Why or why not? • What would the impact be of using economic evaluation on the development of new drugs?
Sample Solution