Is Technological Change In Medicine Worth It?
Author:
Publisher
Health Affairs (Project Hope)
Subject
Health Policy
Reference24 articles.
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3. There is substantial debate about whether such costs ought to be included in the analysis or not. See Panel on Cost-Effectiveness in Health and Medicine,Cost-Effectiveness in Health and Medicine;and D. Meltzer, “Accounting for Future Costs in Medical Cost-Effectiveness Analysis,”Journal of Health Economics(Jan/Feb 1997 ): 33 –64. These two sources present opposing views. Conceptually, such costs ought to be included, but so too should the gains from extending longevity. To see why, consider the simplistic case of a medical technology that at negligible monetary cost would add one year to the life of a person just about to die. The technology will be worthwhile if the value to society of the person living a year is greater than the cost to society of having the person alive. Omitting either the costs or benefits from this equation biases the answer. The argument against including these costs and benefits has largely been based on the practical difficulty of doing so.
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