I was curious about how the socio-economic costs for rare diseases are quantified and what the results show. This post is a summary of what I found. First lets examine what constitutes cost for rare diseases. There are the direct costs that include – inpatient, outpatient and pharmaceutical costs. There are non-health care costs such…
Tag: Rare Disease
Rare Diseases – What are known market failures?
I’m going to take a look at rare diseases from the economic lens of three market failures. Negative Externalities Rare diseases impose significant negative externalities on society and healthcare systems. Consider this statistic – In Europe about 30 million people (1 in 17) suffer from a debilitating rare disease Now take a minute to review…