The Advanced Technology Program Assessing Outcomes (2001) / Chapter Skim
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Estimating Economic Benefits from ATP Funding of New Medical Technologies
Estimating Economic Benefits from ATP Funding of New Medical Technologies
Pages 211-222
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From page 211... ...
The method incorporates a counterfactual scenario with "defender technologies" to model the situation without ATP funding for ~ This paper summarizes a substantial study of seven ATP-funded tissue-engineering projects published as A Framework for Estimating the National Economic Benefits of ATP Funding of Medical Technologies, NIST GCR 97-737, led by Dr. Sheila A
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Tissue engineering integrates discoveries from biochemistry, cellular and molecular biology, genetics, material science, and biomedical engineering to produce materials and techniques that can be used either to replace or to correct poorly functioning components in humans or animals. At the time of the study, the seven projects examined comprised all of the tissue engineering projects funded by the ATP;
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2 Subsequently, ATP organized a Focused Program in Tissue Engineering and a number of additional tissue-engineering projects were funded. A description of the Focused Program and a listing of all tissue engineering projects funded through the present time can be found at the ATP website: http://www.atp.gov.
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Because currently no technologies can image soft tissue adequately to diagnose metastasis at a very early stage, Progenitor's technology will not replace current technologies, but rather will add to current diagnostic techniques. Alexion Pharmaceuticals' project to develop xenogenic transplants transplants from other animals to humans offers an approach to solve the severe shortage of donor organs for transplantation.
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Mansfield, Estimating Social and Private Returns from Innovations Based on the Advanced Technology Program: Problems and Opportunities, NIST GCR 99-780, January 1996.
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When the R&D process is a search or sampling process, as it is for the technologies we evaluated, the more effort spent searching, the more likely the entrepreneur is to find a successful solution to the problem if there is one.5 Technical Phase The R&D phase is characterized by large technical uncertainties regarding the outcome of the effort. Since the projects' technical development phase was not completed at the time of the study, our modeling of the R&D effort for these tissue-engineering projects also evaluates ATP's expected impact on the probability of technical success as well as on the timing of any success.
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New medical technologies that cost no more, or even less than the best alternative treatments, and provide increased benefits to patients, generate spillovers in the form of consumer surplus or market spillovers.7 The social return on public investment is the incremental net return to society from the technology that is attributable to the public investment. It is the difference in societal returns with, versus without, the ATP funding.8 There are three ways ATP funding may increase social returns: (1)
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QALY values allow the analyst to quantify health improvements by accounting for changes in quantity and quality of life in a single measure. We model the progression of chronic diseases treated by the tissue engineering projects as a Markow process where patients transition from one health state to the next over time.
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Significant shares of the expected total social returns from the projects are attributable to the ATP. The expected return on ATP funding of the projects demonstrates a wide range of values, from about 20 percent to over 100 percent per annum over the projected time horizon.
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"Stem Cell Expansion" and "Biopolymers for Tissue Repair" include health-care cost savings but no health well-being benefits due to the unavailability of QALY data for the associated health effects. The projects "Living Implantable Microreactors" and "Proliferated Human Islets" provide similar health benefits but differ with respect to their impact on health-care costs and their probability of technical success.
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1998. "Key Concepts in Evaluating Outcomes of ATP Funding of Medical Technologies." Special Issue Editor: Rosalie Ruegg.
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