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Dr Brett McQueen on Taking Into Account Nontraditional Criteria for Determining Cost Effectiveness
R. Brett McQueen, PhD, assistant professor, Department of Clinical Pharmacy, Pharmaceutical Outcomes Research, Skaggs School of Pharmacy and Pharmaceutical Sciences at the University of Colorado, discusses the need to account a myriad of criteria when determining cost effectiveness.
R. Brett McQueen, PhD, assistant professor, Department of Clinical Pharmacy, Pharmaceutical Outcomes Research, Skaggs School of Pharmacy and Pharmaceutical Sciences at the University of Colorado, discusses the need to account a myriad of criteria when determining cost effectiveness.
Transcript
When determining the cost-effectiveness or other value metrics, why is it important to have decision making that takes into account a myriad of criteria?
Taking into account not only traditional criteria, such as cost-effectiveness or comparative effectiveness, but also nontraditional criteria, such as novel mechanism of action, can help align incentives across multiple stakeholders, so it’s very beneficial in merging the discussion around stakeholders.
How does multiple-criteria decision analysis add value and transparency to current commonly used techniques for decision making?
Coverage and reimbursement decision making will always involve some form of deliberation. There’s no getting around that. But, MCDA [multiple-criteria decision analysis] can help form a structure for that deliberation, and even quantify that deliberation, and that really can help incentivize stakeholders to join in and have a transparent and open discussion about value.
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