The Influence of Varying Cost Formats on Preferences

Med Decis Making. 2017 Jan;37(1):17-26. doi: 10.1177/0272989X16677031. Epub 2016 Nov 17.

Abstract

Background: Numerous studies have found that cost strongly influences patients' decision making. The objective of this study was to explore the impact of varying cost formats on patients' preferences.

Methods: Mechanical Turk workers completed a choice-based conjoint (CBC) survey. The CBC survey was designed to examine stated preferences for the use of second-line agents to treat diabetes across 5 attributes: route of administration, efficacy, risk of low blood sugar, frequency of checking blood sugar levels, and cost. We developed 7 versions of the CBC survey that were identical except for the cost attribute. We described cost in terms of: Affordability, Monthly Co-pay, Dollar Sign Rating, How Expensive, or How Cheap compared with other medications, Working Hours Equivalent (per mo) and Percent of Monthly Income. The resulting part-worth utilities were used to calculate the relative importance of cost and to estimate treatment preferences for exenatide, a sulfonylurea, and insulin.

Results: The relative impact of cost varied significantly across the 7 formats. Cost had the greatest influence on participants' decisions when framed in terms of Affordability [mean (SD) relative importance, 37.3 (0.9)] and the lowest influence when framed in terms of How Cheap (compared with other drugs) [12.1 (0.9)]. A sulfonylurea was strongly preferred across 4 of the 7 formats. Preference for insulin, the most effective, albeit riskiest, option was low across all cost formats.

Conclusions: The format used to describe cost affects how the attribute impacts patients' preferences. Individuals are most cost-sensitive when cost is framed in terms of affordability and least cost-sensitive when cost is described in terms of how cheap the medication is compared with others.

Keywords: conjoint analysis; decision making; drug cost; patient preferences.

MeSH terms

  • Adult
  • Blood Glucose Self-Monitoring
  • Choice Behavior
  • Diabetes Mellitus / drug therapy*
  • Drug Administration Routes
  • Exenatide
  • Fees, Pharmaceutical / statistics & numerical data*
  • Female
  • Humans
  • Hypoglycemia / chemically induced
  • Hypoglycemic Agents / administration & dosage
  • Hypoglycemic Agents / adverse effects
  • Hypoglycemic Agents / economics*
  • Hypoglycemic Agents / therapeutic use*
  • Insulin / economics
  • Insulin / therapeutic use
  • Male
  • Middle Aged
  • Patient Preference
  • Peptides / economics
  • Peptides / therapeutic use
  • Socioeconomic Factors
  • Sulfonylurea Compounds / economics
  • Sulfonylurea Compounds / therapeutic use
  • Venoms / economics
  • Venoms / therapeutic use

Substances

  • Hypoglycemic Agents
  • Insulin
  • Peptides
  • Sulfonylurea Compounds
  • Venoms
  • Exenatide