Quantifying Value: How Diagnostic Testing Drives Economic Impact
-
October 24, 2024
-
FTI Consulting’s Center for Healthcare Economics and Policy performed diagnostics research that demonstrated how the right tests can save lives and reduce costs, quantifying the value of cutting-edge diagnostic technologies and influencing key decisions in healthcare pricing and policy.
Our Impact
- FTI Consulting’s study found that improving bronchoscopy sensitivity by 10% could increase economic value by $8,729 per patient, reducing lung cancer diagnosis time and improving patient outcomes.
- Our study demonstrated that testing symptomatic patients for COVID-19 and influenza with molecular point of care (“mPOC”) may be cost-saving compared to central lab PCR testing. The estimated per-patient savings were €263 in Germany, £74 in the UK and €65 in France in the home treatment scenario.
- The study showed that there is significant value in increasing lung cancer screening rates derived from reducing health disparities. Increasing lung cancer screening to 100% compliance was cost-effective ($64,654 per quality-adjusted life-year) and produced economic value by up to $560 per person. Up to 32.2% of the value was due to reductions in health disparities.
Our Role
- FTI Consulting conducted sophisticated modelling to quantify the value of new diagnostic technologies.
- FTI Consulting partnered with key opinion leader (“KOL”) physicians to validate the results of the economic studies.
- We developed peer-reviewed quality research papers and conference presentations to influence key stakeholders.
Published
October 24, 2024
Key Contacts
Senior Managing Director