Translational health economics (THE) can be defined as the use of theoretical concepts and empirical methods in health economics to bridge the gap between the decision to fund and use a new health technology in clinical practice (the backend of translational medicine) and the decision to invest into its development (the front end of translational medicine). This chapter provides an overview of this emerging area of research and discusses limitations and research needs.
Theoretical concepts and empirical methods for three aspects of THE are presented: First, to analyze “value” for a potential health technology and to apply or to further develop methods for scrutinizing value propositions related to the decision to initiate a translation process; second, to analyze “uncertainty” and to apply or to further develop methods for generating evidence about a health technology's value early on; and third, to analyze barriers of information and motivation in the cooperative process of translation as well as institutions to overcome these. Rather than the traditional concept where health economic evaluations inform health care decision makers about established technologies with established evidence, THE seeks to integrate the development of innovations, and to provide links to health care business perspectives and decisions.
|Title of host publication||World Scientific Handbook of Global Health Economics and Public Policy. Volume 3 — Health System Characteristics and Performance|
|Editors||Richard M. Scheffler|
|Publication status||Published - 2016|
|Name||World Scientific Series in Global Health Economics and Public Policy|