Beyond Drug Prices: Understanding The True Cost of Treatment with Dr. Rafael Fonseca

In this episode of Real World Talk, host Kevin Keogh talks to Dr. Rafael Fonseca, a hematologist who specializes in multiple myeloma, and Interim Director of the Mayo Clinic’s Cancer Center.

They discuss the gulf between the idealized world of clinical trials and the reality experienced by patients with an incurable cancer like multiple myeloma — and how real world data can help bridge the gap.

“I wish we all lived in a world where Phase III trials could be completed in one day and where we had Phase III trials for every patient situation, but we just don't,” Dr. Fonseca says. “You have to realize that there is a reality when it comes to how much you can actually do.” For example, weighing the clinical implications of giving a patient a follow-up treatment that may interact with previous drugs. “We can apply some of the real world datasets to see if the actual performance in the clinical practice really mirrors what we're seeing in the clinical trials,” Dr. Fonseca says.

They also discuss calculating the real cost of treatments using a holistic method, and why Dr. Fonseca believes expensive drugs lead to more innovations in the long term.