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ASCO Physicians Consider Cost-Effectiveness of Expensive Oncology Drugs
The world's largest organization of cancer doctors plans to rate the cost effectiveness of expensive oncology drugs, and will urge physicians to use the ratings to discuss the costs with their patients.
The American Society of Clinical Oncology is weighing efficacy, side effects and price using an algorithm to determine the relative value of drugs, focusing first on therapies for advanced cases of lung and prostate cancer and for multiple myeloma, said Richard Schilsky, the group’s chief medical officer. The task force developing the system plans to present it for public comment later this year, he said.
With the price of many cancer regimens reaching $10,000 a month, doctors need to communicate the medical implications of their care and, increasingly, the cost so patients can make the best decisions for themselves and their families, panel members said.
“Cancer is one of the primary reasons families go bankrupt today,” said Gary Lyman, an oncologist at the Fred Hutchinson Cancer Research Center in Seattle and a member of the task force. “Often families are mortgaging their houses to pay for these expensive drugs. We want to make sure families understand both the benefits of what we can do, and the financial impact.”
Read the complete report here: http://bloom.bg/1gHhjyY
Source: Bloomberg
Exploring Racial, Ethnic Disparities in Cancer Care Prior Authorization Decisions
October 24th 2024On this episode of Managed Care Cast, we're talking with the author of a study published in the October 2024 issue of The American Journal of Managed Care® that explored prior authorization decisions in cancer care by race and ethnicity for commercially insured patients.
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April 25th 2024On this episode of Managed Care Cast, we're talking with the authors of a study published in the April 2024 issue of The American Journal of Managed Care® about their findings on the rates of low-value cancer care services throughout the COVID-19 pandemic.
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