Valuing Life-Saving Drugs: What is the Price of Life and Who Decides?

Share on Facebook
Share on Twitter
Share on
LinkedIn
+

Hubwonk host Joe Selvaggi talks with Pioneer Institute visiting fellow Dr. Bill Smith about Quality Adjusted Life Years (QALY) standards, and the ways in which so-called objective cost-containing strategies use expert opinion to determine the value of a life and thereby disadvantage the elderly, disabled, and those with less common vulnerabilities to disease.

Guest:

William S. Smith is Visiting Fellow in Life Sciences at Pioneer Institute. He has 25 years of experience in government and in corporate roles, including as vice president of public affairs and policy at Pfizer, and as a consultant to major pharmaceutical, biotechnology and medical device companies. He held senior staff positions for the Republican House leadership on Capitol Hill, the White House, and in the Massachusetts Governor’s office. He is affiliated as research fellow and managing director with the Center for the Study of Statesmanship at The Catholic University of America (CUA), where he earned his PhD.

Related research: Analysis: ICER Framework Ignores Patient Preferences, Innovation & Societal Benefits in Evaluating Cost-Effectiveness of New Cancer Treatments

Get new episodes of Hubwonk in your inbox!

Related Posts:

Doctor Heal Thyself: Insider’s Prescription For Healthcare Reform

Host Joe Selvaggi talks with surgeon and New York Times bestselling author Dr. Marty Makary about the healthcare reform themes in The Price We Pay, the 2020 Business Book of the Year.  The discussion covers the value of price transparency, provider accountability, and performance information to drive better medical outcomes and improve doctor and patient satisfaction.

New Analysis: ICER Framework Ignores Patient Preferences, Innovation & Societal Benefits in Evaluating Cost-Effectiveness of New Cancer Treatments

Pioneer Institute today released a new analysis, The QALY and Cancer Treatments: An Ill-Advised Match, that examines the alarming methodological and contextual shortcomings of the Quality Adjusted Life Years (QALY)-based methodology in evaluating new cancer therapies. The Pioneer Institute analysis reveals five specific problems with ICER’s evaluation of cancer treatments and demonstrates the urgent need to prohibit the use of the QALY amid trends in rapid cancer innovations and personalized medicine.

Travesty of Justice: Massachusetts Drug War Collapses on Lab Scandal

Joe Selvaggi talks with Pioneer Institute senior legal fellow Jim McKenna about Massachusetts’ drug prosecution cases resting on evidence produced by badly mismanaged drug testing labs, and the implications for potentially hundreds of thousands convicted on erroneous, tainted, or fabricated evidence.

Struggling For Sunshine: Transparency’s Power To Keep Leaders Accountable

/
Host Joe Selvaggi talks with Pioneer Institute's Mary Z. Connaughton about the value of transparency and Pioneer’s extensive work to provide greater access to legislative and policy information to hold elected officials accountable and build trust in our state government. Read Pioneer Institute's Sunshine Week Transparency Resolutions.

Traffic Strikes Back: New Transportation Strategies for Post-Pandemic Prosperity

Host Joe Selvaggi talks with Chris Dempsey, Director of Transportation for Massachusetts, about road and mass transit innovations that could address traffic challenges in a high-growth, post-pandemic economy.

Post-Pandemic Prospects: Tech Leaders’ Prescription for Preserving a Healthy Economy

/
Host Joe Selvaggi talks with Chris Anderson, President of the Massachusetts High Technology Council, about the reasons why Massachusetts has a thriving tech sector, what challenges his members have faced in the pandemic, and what he sees as the most prudent path toward future prosperity in the commonwealth.

Digesting Digital Medicine: Healthcare Benefits When Smart Pills Track When Taken

/
Host Joe Selvaggi and Pioneer Institute’s Bill Smith talk with Valerie Sullivan, President and CEO of EtectRX about the health care costs of improperly taking prescriptions and the promise of smart pills to signal and track medicines when ingested.

Patient-centered Model Outshines Insurance-centered Healthcare during Pandemic

/
Joe Selvaggi talks with Pioneer Institute Senior Fellow Josh Archambault about his newest research paper entitled, "Direct Health Care Agreements: A New Option For Patient-Centered Care That Costs Less and Reduces Provider Burn-out" and how this emerging service model provided its patients with comprehensive health service throughout the COVID-19 pandemic.

Wealth Migration Trends: Remote Work Technology Empowers Workers to Live Anywhere

/
Host Joe Selvaggi talks with Pioneer Institute’s Andrew Mikula about his recent research into migration trends of high-income individuals, how pandemic-related technologies may accelerate that movement, and what challenges these changes present for policy makers.

Interstate Legal Skirmish: New Hampshire Takes Massachusetts Telecommuter Tax to the Supreme Court

/
Host Joe Selvaggi talks with legal scholar and George Mason University Law Professor Ilya Somin about the details, the merits, and the likely implications of the Supreme Court case, New Hampshire v. Massachusetts, on state taxation power, federalism, and the power to vote with one’s feet.