Question

why is it important to achieve a balance between clinical efficacy and economic worth ( cost effectiveness) of medical treatments ? ( 300 words)

Answer 1

Achieving a balance between the clinical efficacy and cost effectiveness will require a change in the American mindset. QALY (Quality-adjusted life year) in the ACA promote the use of technology without regard to cost benefit.

And hence without malpractice reform, overuse of technology will continue to rack up costs. The United States has not found a way to limit the use of high-cost medical technology but it is highly desired.

This practice may create a major barrier for the adoption of delivering services on the basis of economic worth.

• In US, there is fear that an organization risks being sued if it denies access to treatments that are known to be medically effective even when their cost effectiveness is questionable

Hence the overuse of technology will continue to rack up costs. On the other hand there is no choice in front of US but to restrict the use of medical technology on the basis of their economic worth is the need.

So there should be balance between cost effectiveness and efficacy.

And it is well defined that efficacy is concerned only with the benefit to be derived from the use of technology.

While cost-effectiveness emphasize on the benefits against cost.

Finally it is also a set point that health care is cost-effective when benefits exceed the costs.

Hence there is need to maintain a balance between clinical efficacy and cost effectiveness of the therapy, and it is need of time.

The health care professional are expected to set a common goal to achieve such balance and they can make awareness about it to the patient also for the transparent and reliable paient care.