Journal article
Addressing Challenges of Economic Evaluation in Precision Medicine Using Dynamic Simulation Modeling
DA Marshall, LR Grazziotin, DA Regier, S Wordsworth, J Buchanan, K Phillips, M Ijzerman
Value in Health | ELSEVIER SCIENCE INC | Published : 2020
Abstract
Objectives: The objective of this article is to describe the unique challenges and present potential solutions and approaches for economic evaluations of precision medicine (PM) interventions using simulation modeling methods. Methods: Given the large and growing number of PM interventions and applications, methods are needed for economic evaluation of PM that can handle the complexity of cascading decisions and patient-specific heterogeneity reflected in the myriad testing and treatment pathways. Traditional approaches (eg, Markov models) have limitations, and other modeling techniques may be required to overcome these challenges. Dynamic simulation models, such as discrete event simulation..
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Awarded by Arthritis Society
Funding Acknowledgements
Source of financial support: This study was funded in part by grants from the Canadian Institutes for Health Research (381280), Genome Canada, Arthritis Society, ZonMw (Netherlands Organisation for Health Research and Development), and ReumaNederlands, through the Understanding Childhood Arthritis Network Canada-Netherlands (UCAN CANDU) project, the National Human Genome Research Institute (U01 HG009599) and from the National Cancer Institutes (R01 CA221870). D.A.M. is supported by the Arthur J. E. Child Chair in Rheumatology and a Canada Research Chair in Health Systems and Services Research (20082018). L.R.G. is funded as a doctoral trainee by the Arthritis Society (TGP18-0244) and UCAN CAN-DU project. J.B. and S.W. were partly funded by the National Institute for Health Research (NIHR) and Oxford Biomedical Research Centre (BRC). K.P. receives consulting fees from Illumina. M.I. received travel funding by Illumina to attend the 2019 International Summit on Population Health Genomics. D.A.R., K.P., J.B., S.W., and D.A.M. received travel funding by Illumina to attend the Global Economics and Evaluation of Clinical Genomics Sequencing Working Group (GEECS) meeting.