The insurance value of multiple sclerosis treatments
“Existing economic evaluations of multiple sclerosis therapies omitted a substantial share of the value these treatments provide.”
Multiple sclerosis exerts a high burden on patients and caregivers. A manufacturer was concerned that existing economic evaluations of multiple sclerosis therapies omitted a substantial share of the value these treatments provide to patients and society more generally. In particular, healthy people may derive value from the insurance an effective treatment for multiple sclerosis provides, protecting against the possibility they may acquire the disease in the future.
Quantify the “insurance value” that the healthy, premium-paying individuals may derive from a new effective multiple sclerosis therapy by building an economic model that assesses the benefits to healthy people who may acquire multiple sclerosis in the future.
PHE’s economic model found that approximately half of the value of multiple sclerosis treatments accrues to healthy consumers by mitigating the negative health impacts if they acquire multiple sclerosis in the future. The results provide evidence that healthy individuals are willing to pay premiums for access to treatments prior to becoming ill.
The results of this study demonstrate that, for a severe disease such as multiple sclerosis, new treatments may generate substantial value to the healthy population, in addition to the value they provide to those with disease. The results highlight the importance of considering an expansive set of components in quantifying value in the healthcare setting.
New treatments may generate substantial value to the healthy population, in addition to the value they provide to those with disease.
Reconsidering the economic value of multiple sclerosis therapies. American Journal of Managed Care