Measuring the Value Healthy Individuals Place on Generous Insurance Coverage of Severe Diseases –…

by akoloy

That is the title of a paper I simply revealed at Value in Health with Suepattra G. May, Lauren M. Zhao, Katalin Bognar, Yong Yuan, John R. Penrod, and John A. Romley. The subtitle is A Stated Preference Survey of Adults Diagnosed With and Without Lung Cancer. The full summary is under:

Objectives: To examine the ex ante willingness to pay (WTP) of wholesome people for beneficiant insurance coverage protection of novel lung most cancers remedies to the WTP for protection of such therapy amongst people with lung most cancers.
Methods: A survey was administered to 2 cohorts of US adults: (1) wholesome people with out most cancers and (2) people recognized with lung most cancers. A a number of random staircase survey design was used to elicit respondent WTP for protection of novel lung most cancers remedy related to survival features.
Results: Of the 84 937 wholesome people invited, 300 accomplished the survey. Of the 36 249 within the lung most cancers cohort invited, 250 accomplished the survey. Mean age by cohort was 50.0 (SD 14.6) and 48.4 (SD 16.8) years, and 55.2% and 47.2% had been feminine, respectively. Respondents within the wholesome and lung most cancers cohorts had been prepared to pay $97.52 (95% confidence interval (CI) $89.89-$105.15) and $22 304 (95% CI $20 194-$24 414) monthly, respectively, for protection of a novel remedy offering 5-year survival of 15% versus standard-of-care remedy with a 5-year survival of 4%. After accounting for the probability that wholesome people are recognized with lung most cancers sooner or later, we estimated that 89.8% of the full worth of latest lung most cancers remedies comes from the WTP wholesome people place on beneficiant insurance coverage protection.
Conclusions: Total societal willingness to pay for lung most cancers is far larger than conventionally thought, as most wholesome people are risk-averse and extremely worth having lung most cancers remedies accessible to them sooner or later.

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