How cancer patients value hope and the implications for cost-effectiveness assessments of high-cost cancer therapies.

@article{Lakdawalla2012HowCP,
  title={How cancer patients value hope and the implications for cost-effectiveness assessments of high-cost cancer therapies.},
  author={Darius N. Lakdawalla and John A. Romley and Yuri Sanchez and J. Ross Maclean and John R. Penrod and Tomas J. Philipson},
  journal={Health affairs},
  year={2012},
  volume={31 4},
  pages={676-82}
}
Assessments of the medical and economic value of therapies in diseases such as cancer traditionally focus on average or median gains in patients' survival. This focus ignores the value that patients may place on a therapy with a wider "spread" of outcomes that offer the potential of a longer period of survival. We call such treatments "hopeful gambles" and contrast them with "safe bets" that offer similar average survival but less chance of a large gain. Real-world therapy options do not have… CONTINUE READING
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