Study evaluates costs and benefits of new chemotherapy drugs
Among those who received the new agents, life expectancy increased by 6.8 months and lifetime costs increased by $37,100, equating to a cost of $66,200 per year of life gained. After additional adjustments, the cost for each quality-adjusted life year (a year of life in perfect health) gained was $99,100, says lead study author Howard, associate professor of health policy and management, RSPH.
"New chemotherapeutic agents for colorectal cancer have been singled out as examples of high-cost/low-value medical care; no doubt they are the types of therapies that would receive close scrutiny if Medicare and other payers were to consider cost-effectiveness in coverage decisions," Howard and co-authors write.
"Our estimate of the cost per quality-adjusted life year gained, $100,000, is below most estimates of the willingness to pay for a life-year," the authors say. "However, continuation of Medicare's open-ended coverage policy for new chemotherapeutic agents and other expensive technologies will prove difficult to sustain as costs for the program continue to rise."
The study, "The Value of New Chemotherapeutic Agents for Metastatic Colorectal Cancer," is published in Archives of Internal Medicine.
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