Efficacy vs Effectiveness
I know I’ve written about efficacy, student success per dollar, and related topics before, but my mind continues to be drawn back to the issue. I can’t adequately express how important I believe this conversation to be. Consider the following fictitious scenario: A pharmaceutical company is developing a drug to cure a rare form cancer. During the clinical trials the drug eliminates cancer in 35% of the patients in the treatment group. The drug is hailed as a breakthrough, promising a second chance to the million people worldwide with the cancer. The company takes the drug to market as a pill to be taken once daily for six months, with a six-month supply costing $100,000. Individuals and governments accuse the company of price gouging and insurance companies refuse to cover the exorbitant cost of the drug, but the company holds firm on the price. Of the million people who need the drug, 1700 are able to purchase it during the first year of availability. 35% of the 1700 purchasers - 595 people - beat their cancer. ...