The Economics of New Health Technologies

Incentives, organization, and financing

Edited by Joan Costa-Font, Christophe Courbage, and Alistair McGuire

Contains a general health economics perspective, relevant to those in both health economics and policy
Looks at the whole process of innovation, making it an important resource for practitioners in the public and private sectors
Broader then simple economic evaluation, the book considers the behavioural aspects, organization, incentives, adoption and diffusion of new health technologies
Hugely topical for modern healthcare, relevant to issues such as nano-technology, cloning, and tissue engineering
Contributions from international experts including economists, health policy analysts, clinicians, and social scientists

The Economics of New Health Technologies

Incentives, organization, and financing

Edited by Joan Costa-Font, Christophe Courbage, and Alistair McGuire

Description

Technological change in healthcare has led to huge improvements in health services and the health status of populations. It is also pinpointed as the main driver of healthcare expenditure. Although offering remarkable benefits, changes in technology are not free and often entail significant financial, as well as physical or social risks. These need to be balanced out in the setting of government regulations, insurance contracts, and individual's decisions to use and consume certain technologies. With this in mind, this book addresses the following important objectives: to provide a detailed analysis of what technological change is; to identify drivers of innovation in several healthcare areas; to present existing mechanisms and processes for ensuring and valuing efficiency and development in the use of medical technologies; and to analyze the impact of advances in medical technology on health, healthcare expenditure, and health insurance.

Each of the seventeen chapters summarizes an important issue concerning the innovation debate and contributes to a better understanding of the role innovation has both at the macro level and at the delivery (meso) and micro level in the healthcare sector. The effectiveness of innovation in improving people's welfare depends on its diffusion and inception by the relevant agents in the health production process, and this book recognizes the multi-faceted contribution of policy makers, regulators, managers, technicians, consumers and patients to this technology.

This book offers the first truly global economic analysis of healthcare technologies, taking the subject beyond simply economic evaluation and exploring the behavioral aspects, organization and incentives for new technology developments, and the adoption and diffusion of these technologies.

The Economics of New Health Technologies

Incentives, organization, and financing

Edited by Joan Costa-Font, Christophe Courbage, and Alistair McGuire

Part I. Introduction
1. What do we know about the role of health care technology in driving healthcare expenditure growth?, Alistair McGuire & Victoria Serra
Part II. Innovation, diffusion and technology change
2. The process of innovation: incentives, behaviour and organization, Davide Consoli, Andrew McMeekin, J. Stan Metcalfe, Andrea Mina & Ronnie Ramlogan
3. Technology - scientific force or power force?, Nick Bosanquet
4. Diffusion of health technologies: evidence from the pharmaceutical sector, Victoria Serra-Sastre & Alistair McGuire
Part III. Technological change and health insurance
5. Insurance and new health technology, Mark Pauly & Adam Isen
6. Technological change and health insurance, Peter Zweifel
7. Health insurance and the uptake of new drugs in the United States, Marin Gemmill, Victoria Serra & Joan Costa-Font
8. Genetic advances and health insurance, Lilia Filipova & Michael Hoy
Part IV. Innovation, social demand and valuation
9. Ageing and pharmaceutical innovation, Roland Eisen & Yasemin Ilgin
10. New approaches to healthcare innovation: information for chronic patients, Manuel García-Goñi & Paul Windrum
11. The convergence of nano-, bio- and information technologies in healthcare, Nicola Pangher
12. Treatment uncertainty and irreversibility in medical care: implications for cost-effectiveness analysis, Joshua Graff Zivin, Matthew Neidell, & Lauri Feldman
13. The limits and challenges to the economic evaluation of health technologies, Adam Oliver & Corinna Sorenson
Part V. Incentives, mechanisms and processes
14. Intellectual property rights and pharmaceuticals development, Joan Rovira
15. Home, or nursing home? The effect of medical innovation on the demand for long-term care, Frank R. Lichtenberg
16. Demand for health information on the internet, Joan Costa-Font, Caroline Rudisill & Elias Mossialos
17. Institutional pathways for integrating genetic testing into mainstream healthcare, Hristina Petkova

The Economics of New Health Technologies

Incentives, organization, and financing

Edited by Joan Costa-Font, Christophe Courbage, and Alistair McGuire

Author Information

Dr Joan Costa-Font teaches political economy and European social policy at the London School of Economics and Political Science, and has previously taught Economics at the University of Barcelona. Dr Costa-Font is a fellow of CESifo (Munich), the health econometrics and data group (York), FEDEA (Madrid) , IESE Business School and CAEPS (Barcelona). He has received various awards, including the Bayer Health Economics Award in 2003, the Edad &Vida Research award in 2006 and the Rogeli Duacastella Award on Social Science granted by the Foundation "La Caixa" in 2008. He has acted as an economic and research consultant for the Word Bank, the European Commission, the Spanish Ministry of Health and the Catalan Ministry of Trade as well as for private organisations. Christophe Courbage, PhD in Economics, is Director of the Health and Ageing and Insurance Economics research programmes at the Geneva Association. He lectures in Health Economics at the University of Lausanne, and "International Faculty" at the Singapore College of Insurance. Dr Courbage is also Deputy Editor of The Geneva Papers and Executive Secretary of the European Group of Risk and Insurance Economists (EGRIE). Dr Courbage was awarded the 1999 Ernst Meyer Prize by the Geneva Association for the best PhD thesis in Insurance Economics, is Deputy Editor of The Geneva Papers on Risk and Insurance - Issues and Practice, and is Executive Secretary of the European Group of Risk and Insurance Economists (EGRIE). Professor Alistair McGuire [BA (Econ); MLitt (Econ); PhD (Econ)] is a Professor in Health Economics at LSE Health and Social Care. He has been professor of Economic at City University and thought at Oxford and Aberdeen. Professor McGuire has written numerous books, articles and reports in this area. He has also acted as an advisor to numerous UK government offices and research councils (including the ESRC and the MRC), as well as an economic consultant to a number of foreign governments, and domestic and foreign corporations and pharmaceutical companies. His current interests are in economic evaluation (especially when conducted alongside clinical trials), the economics of the hospital, technological diffusion, and health care insurance.

Contributors:

Nick Bosanquet, Professor of Health Policy, Imperial College London, UK
Davide Consoli, Manchester Institute of Innovation Research (MIoIR), Manchester Business School, Manchester, UK
Joan Costa-Font, LSE Health, and European Institute, London School of Economics and Political Science, London, UK
Roland Eisen , Department of Economics, University of Frankfurt, Germany
Lauri Feldman, Undergraduate student, Columbia College, Chicago,USA
Lilia Filipova, University of Augsburg, Germany
Manuel García-Goñi, Universidad Complutense de Madrid, Spain
Marin Gemmill, LSE Health, London School of Economics and Political Science, London, UK
Joshua Graff Zivin, Associate Professor, Department of Health Policy and Management, Columbia University, New York, USA
Yasemin Ilgin, University of Frankfurt, Germany
Adam Isen, Business and Public Policy, The Wharton School, University of Pennsylvania, USA
Michael Hoy, Department of Economics, University of Guelph, Canada
Frank R. Lichtenberg, Columbia University and National Bureau of Economic Research, New York, USA
Alistair McGuire, LSE Health, London School of Economics and Political Science, UK
Andrew McMeekin, Manchester Institute of Innovation Research (MIoIR), Manchester Business School, Manchester, UK
J. Stan Metcalfe, Manchester Institute of Innovation Research (MIoIR), Manchester Business School, and Centre for Business Research, University of Cambridge, UK
Andrea Mina, Centre for Business Research, University of Cambridge, UK
Elias Mossialos, LSE Health, London School of Economics, London, UK
Matthew Neidell, Assistant Professor, Department of Health Policy and Management, Columbia University, New York, USA
Adam Oliver, LSE Health, London School of Economics and Political Science, UK
Nicola Pangher, Director, ITALTBS SpA, Italy
Mark V. Pauly, Health Care Systems Department, The Wharton School, University of Pennsylvania, USA
Hristina Petkova, EGENIS, University of Exeter, UK
Ronnie Ramlogan, Manchester Institute of Innovation Research (MIoIR), Manchester Business School, UK
Joan Rovira, University of Barcelona, Spain
Caroline Rudisill, LSE Health, London School of Economics, UK
Victoria Serra-Sastre, LSE Health, London School of Economics and Political Science, UK
Corinna Sorenson, LSE Health, London School of Economics and Political Science, UK
Paul Windrum, MMUBS, Manchester, UK
Peter Zweifel, University of Zurich, Switzerland