A BRIEF INTRODUCTION TO GAME THEORY AND ITS POTENTIAL IMPLICATIONS FOR THE ECONOMICS OF ORTHOTICS & PROSTHETICS

Abstract

The economic viability of Orthotics & Prosthetics (O&P) service provision is an important concern for policy makers, patients, and practitioners. Against the background of limited funds that can be distributed for healthcare expenses overall, it is critical to identify the most cost-effective treatment options within and across disciplines, including surgical and pharmacological interventions. When those decisions are being negotiated, whether in the context of an individual case in the clinic or of general payer policies that allocate spending budgets, the O&P discipline is often perceived to be at a disadvantage due to its relatively young age, underdeveloped evidence base, and small economic clout as compared to other fields. Such asymmetrical negotiations have been the subject of economic theories and mathematical models, such as the “Game theory”, work on which has been awarded with several Nobel Prizes and other recognitions across the years. In this paper, we are introducing core concepts of this theory and discuss how they may be applied in negotiations on treatment approaches and reimbursement schedules with the goal to improve outcomes for the O&P profession. Article PDF Link: https://jps.library.utoronto.ca/index.php/cpoj/article/view/36661/28347 How To Cite: Fiedler G, Schikorra A. A brief introduction to game theory and its potential implications for the economics of orthotics & prosthetics. Canadian Prosthetics & Orthotics Journal. 2021; Volume 4, Issue 2, No.18. https://doi.org/10.33137/cpoj.v4i2.36661 Corresponding Author: Dr. Goeran Fiedler, PhD Department of Rehabilitation Science and Technology, University of Pittsburgh, Pittsburgh, PA 15206, USA. E-Mail: gfiedler@pitt.edu ORCID number: https://orcid.org/0000-0003-1532-1248