新的研究表明，金融工程可以挽救生命的药物更有效和负担得起的-达纳法伯癌症研究所

当突破治疗某些癌症，丙型肝炎，和罕见的疾病仍然是无法实现的许多患者由于其高昂的成本，新的研究由达纳-法伯癌症研究所和麻省理工学院斯隆管理学院的研究人员提供了一个潜在的补救措施：医疗保健消费贷款证券化（HCLS）。

可能，大型医疗费用贷款相当，流传多年的治疗费用，让他们到需要它们的人更实惠。可能通过证券化融资-金融工程技术，包括池贷款转换成证券会让更多患者获得药物同时产生具有吸引力的回报给投资者，这项研究的作者说。达纳法伯戴维Weinstock博士进行的，麻省理工学院斯隆商学院教授安得烈·W·罗博士和麻省理工学院的博士后研究员瓦希德montazerhodjat，博士，该研究发表在今天科学转化医学。

Scientists have recently developed several breakthrough cures for diseases, but often the medicine’s cost is stratospheric。 Case in point: Glybera, a gene therapy that cures the highly rare disease lipoprotein lipase deficiency, was recently approved in Germany。 Its price tag: nearly $1 million。 The benefit from Glybera may last for the patient’s remaining lifetime but the entire cost is paid upfront。

“The stark reality is that many patients don’t have access to transformative therapies like Glybera solely due to affordability,” said Weinstock。 “This is a problem that will only grow as scientists create more cures。 In the next five to seven years we could see cures for diseases like amyotrophic lateral sclerosis, Duchenne muscular dystrophy, and many types of cancer, but those therapies could be too expensive for the average patient。”

“This is an instance where financial engineering could benefit the entire ecosystem,” said Lo。 “It helps patients by providing them with affordable access to therapeutic drugs and cures。 It helps biopharmaceutical companies by enabling them to get paid back for the substantial investments in R&D they make to develop the therapies in the first place。 And it helps insurance companies by linking payment to ongoing benefit。”

Securitized HCLs may also be profitable investments。 Based on numerical simulations and statistical models, a large, diversified fund of HCLs generated hypothetical annual returns of 12%。 For comparison, over the ten-year period from January 2006 to December 2015, the Standard & Poor’s 500 Index saw a compound annual return of only of 7。3%。

Weinstock and his co-authors acknowledge that using financial engineering techniques in healthcare is not without risk — especially as securitization was chief among the techniques that precipitated the recent global financial crisis。 While securitization is actively used in many markets today and plays a critical role in financing mortgages, student loans, and consumer credit, it can still be abused if proper protections, including regulatory oversight, are absent。

“但认为证券化是“太危险了”没有一个合理的替代方法是把需要的患者现状,” said Lo。 “Securitized HCLs make expensive breakthrough therapies more affordable right now。 The science is here and it’s moving at breakneck speed。 Now we need the financial models to catch up。”

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