Incorporating Patient Preferences via Bayesian Decision Analysis

Chaudhuri, Shomesh E.; Lo, Andrew W.

doi:10.2215/cjn.12110720

Cited by 6 publications

(1 citation statement)

References 6 publications

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“…Most recently, a survey of more than 2,700 Parkinson's disease (PD) patients by Hauber et al (2021) finds that risk thresholds in a BDA framework for new neurostimulative devices in the treatment of PD increase markedly with the perceived benefit of the device to the patient (see also Chaudhuri et al 2022). BDA has also been applied retrospectively to medical devices for treating obesity (Chaudhuri et al 2018) and to APTs (Chaudhuri & Lo 2021a), and it is being considered as a prospective input to the trial design of devices to treat kidney disease (Chaudhuri & Lo 2021b).…”

Section: The Drug Development Processmentioning

confidence: 99%

Financing Biomedical Innovation

Thakor

2022

Annu. Rev. Financ. Econ.

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We review the recent literature on financing biomedical innovation, with a specific focus on the drug development process and how it may be enhanced to improve outcomes. We begin by laying out stylized facts about the structure of the drug development process and its associated costs and risks, and we present evidence that the rate of discovery for life-saving treatments has declined over time while costs have increased. We make the argument that these structural features require drug development (i.e., biopharmaceutical) firms to rely on external financing and at the same time amplify market frictions that may hinder the ability of these firms to obtain financing, especially for treatments that may have large societal value relative to the benefits going to the firms and their investors. We then provide an overview of the evidence for various types of market frictions to which these drug development firms are exposed and discuss how these frictions affect their incentive to invest in the development of new drugs, leading to underinvestment in valuable treatments. In light of this evidence, numerous studies have proposed ways to overcome this funding gap, including the use of financial innovation. We discuss the potential of these approaches to improve outcomes.

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Section: The Drug Development Processmentioning

confidence: 99%

Financing Biomedical Innovation

Thakor

2022

Annu. Rev. Financ. Econ.

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Financing Alzheimer’s Disease Drug Development

Cummings

Hu²,

Su³

et al. 2022

Alzheimer's Disease Drug Development

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The Milken Institute is a nonprofit, nonpartisan think tank determined to increase global prosperity by advancing collaborative solutions that widen access to capital, create jobs, and improve health. We do this through independent, data-driven research, action-oriented meetings, and meaningful policy initiatives. ABOUT THE CENTER FOR STRATEGIC PHILANTHROPYThe Milken Institute Center for Strategic Philanthropy (CSP) designs smart giving strategies to accelerate philanthropic goals and progress. It is focused on maximizing the return on philanthropic investment by ensuring that innovation used to address one social issue is translated to another, best practices and metrics guide new and existing giving programs, and resources are invested to optimize outcomes. CSP provides comprehensive, digestible information that helps donors evaluate research efforts and funding opportunities in various areas of health and medical research. Expert advisory boards, in-depth due diligence, and an objective framework for evaluation shapes its analysis. ACKNOWLEDGMENTSWe would like to acknowledge the S Family Foundation for supporting the work, and the artist, William C. from The I'm Still Here Foundation, for the cover image.

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Incorporating patient preferences and burden-of-disease in evaluating ALS drug candidate AMX0035: a Bayesian decision analysis perspective

Cho

Chaouch

et al. 2022

Amyotrophic Lateral Sclerosis and Frontotemporal Degeneration

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Incorporating Patient Preferences via Bayesian Decision Analysis

Cited by 6 publications

References 6 publications

Financing Biomedical Innovation

Financing Biomedical Innovation

Financing Alzheimer’s Disease Drug Development

Incorporating patient preferences and burden-of-disease in evaluating ALS drug candidate AMX0035: a Bayesian decision analysis perspective

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