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Key concepts in evaluating outcomes of ATP funding of medical technologies

  • Symposium Evaluating a Public-private Partnership: The Advanced Technology Program
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Abstract

The Economic Assessment Office (EAO) of the Advanced Technology Program (ATP) commissions economic studies by outside research organizations. A recent study by the Research Triangle Institute (RTI) outlines a framework for evaluating ATP funding of medical technologies. The RTI study employs a standard approach to cost-benefit analysis, while utilizing a number of methods unique to health care assessment to measure the benefits brought about by the new medical technologies. This article highlights important analytical points and explicates key concepts forming the basis of understanding for the approach. Concepts of economic returns, such as private and social returns, and the returns to public investment, are discussed in the framework of cost-benefit analysis and net present value. For analyzing the benefits of new medical technology, methods from health care assessment and concepts such as QALYs and the statistical value of life are identified and explained.

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References

  • Jaffe, Adam B.Economic Analysis of Research Spillovers: Implications for the Advanced Technology Program. Prepared for Advanced Technology Program, National Institute of Standards and Technology, U.S. Department of Commerce. October 1996.

  • Research Triangle Institute (RTI).A Framework for Estimating the National Economic Benefits of ATP of Medical Technologies. Prepared for Advanced Technology Program, National Institute of Standards and Technology, U.S. Department of Commerce. July 1998 (expected).

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Authors and Affiliations

  1. Advanced Technology Program, National Institute of Standards and Technology Technology Administration, U.S. Department of Commerce, 20899, Gaithersburg, MD

    Andrew J. Wang

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  1. Andrew J. Wang
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Wang, A.J. Key concepts in evaluating outcomes of ATP funding of medical technologies. J Technol Transfer 23, 61–65 (1998). https://doi.org/10.1007/BF02509893

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  • DOI: https://doi.org/10.1007/BF02509893

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