Unbiased Analysis of Today's Healthcare Issues
Which treatment is the best? This is a seemingly simple question, but there are many answers. Some people would say whatever the clinical evidence says. Others would contend that patient preferences are paramount and patient preferences should rule the day. In our current world of health care largely paid for by insurance, how should the preferences…
In one of my recent publications, I show that patient and physician risk preferences differ. Patients are willing to take take treatments with more both upside and downside risk, whereas physician prescribe treatments large based on which one provides the most efficacy to the average patient. One question that remains is how do patients and physician preferences over treatments…
Below is an abstract from on of my recent studies on patient and physician preferences for treatments for nonvalvular atrial fibrillation. The full article is HERE. Objectives The objective of this study was to compare patient and physician preferences for different antithrombotic therapies used to treat nonvalvular atrial fibrillation (NVAF). Methods Patients diagnosed with NVAF…
Generally, economists believe that individuals are rational and make choices to maximize utility. How do you reconcile the fact that most people would prefer to own a Ferrari, but actually own a car like a Toyota Matrix? Once you take into account all aspects of this choice (including price) then the Toyota Matrix doesn’t look…
Many studies have revealed patient non-compliance with medical prescriptions (e.g.: not taking prescribed drugs, not visiting the doctor) at around 50%. Most medical researchers believe that non-adherence is either due to 1) irrationality or 2) misinformation. Yet a Health Economics article by Lamiraud and Geoffard (2007) tests the hypothesis of whether or not this behavior…