Emerging Landscape of Health Economic Evaluation in the Era of Generative AI

ISSUE:

The widespread adoption of generative AI and Large Language Models (LLMs), such as ChatGPT, could disrupt the approach and process of developing health economic models. Generative AI can contribute to every stage of the model development process, including model conceptualization, data collection, model coding, quality assessment, and reporting. Generative AI could further serve as intelligent support tools, enabling swift early economic evaluations and standardizing processes for Health Technology Assessment (HTA) submissions. Additionally, generative AI-based tools could aid standardization of model development steps and improve structural sensitivity analysis. As generative AI continues to evolve and gain expertise through continuous training, the assessment of these tools should also evolve. It’s important to consider where they may fit in the workflow of model development, their quality assessment, and the consumption of insight generated from them. A dialogue between AI experts, health economists, and end users is needed to make the best and ethical use of this new technology.

OVERVIEW:

The session, moderated by Jag Chhatwal, will commence with an overview of the current landscape of generative AI and LLMs, and their intersection with health economic field. Turgay Ayer will provide an academic perspective on generative AI technology, discussing both its potential and limitations in health economic modeling. Following that, Baris Deniz will offer an industry viewpoint, shedding light on how generative AI is currently being utilized for early economic modeling and their potential role in HTA submissions in the future. Finally, Dalia Dawoud will present the HTA perspective, examining the use of generative AI for economic evaluations and proposing considerations for HTA bodies when evaluating such models. This comprehensive panel aims to provide insights into the diverse applications and implications of generative AI and LLMs in the field of health economic evaluation.