Stanford researchers suggest ways for physicians to individualize cost-effectiveness of treatments

In an era of skyrocketing health-care costs and finite financial resources, health economists are increasingly called upon to determine which medical treatments are the most cost-effective. To do so, they compare the price of an intervention with the improvement it is expected to deliver. For example, a highly advanced cold medicine that costs $5,000 to deliver just one additional symptom-free day to the average patient would appear to be a less-wise investment than a new chemotherapy that costs $10,000 but delivers a year or more of life to most patients.

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