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Estimates often rely on evidence from early randomized controlled trials conducted prior to regulatory approval, where provider and patient behaviors are tightly controlled. This approach ignores how different supply conditions and incentives in practice influence behaviors. This paper considers how provider and patient incentives can differ between trial and practice settings and analyses how healthcare use changed when new prostate cancer treatments were funded on the public health insurance scheme in Australia. We find evidence that doctors treated patients with worse prognosis compared to the trials, patients ceased prior treatment and switched to the new treatments earlier than expected, and treatment duration was longer than expected. These and other behavioral responses reduced value for money <jats:italic>ex post<\/jats:italic>. Our findings suggest that health insurers should carefully consider the supply conditions and incentives in practice when funding new treatments.<\/jats:p>","DOI":"10.1002\/hec.4958","type":"journal-article","created":{"date-parts":[[2025,3,18]],"date-time":"2025-03-18T08:20:22Z","timestamp":1742286022000},"page":"1239-1254","update-policy":"https:\/\/doi.org\/10.1002\/crossmark_policy","source":"Crossref","is-referenced-by-count":3,"title":["Behavioral Responses to Healthcare Funding Decisions and Their Impact on Value for Money: Evidence From Australia"],"prefix":"10.1002","volume":"34","author":[{"ORCID":"https:\/\/orcid.org\/0000-0002-7532-7847","authenticated-orcid":false,"given":"Peter","family":"Ghijben","sequence":"first","affiliation":[{"name":"Centre for Health Economics Monash Business School Monash University  Caulfield Australia"}],"role":[{"role":"author","vocabulary":"crossref"}]},{"given":"Dennis","family":"Petrie","sequence":"additional","affiliation":[{"name":"Centre for Health Economics Monash Business School Monash University  Caulfield Australia"}],"role":[{"role":"author","vocabulary":"crossref"}]},{"given":"Silva","family":"Zavarsek","sequence":"additional","affiliation":[{"name":"Deakin Health Economics School of Health and Social Development Institute for Health Transformation Deakin University  Burwood Australia"}],"role":[{"role":"author","vocabulary":"crossref"}]},{"ORCID":"https:\/\/orcid.org\/0000-0002-8385-5965","authenticated-orcid":false,"given":"Gang","family":"Chen","sequence":"additional","affiliation":[{"name":"Centre for Health Economics Monash Business School Monash University  Caulfield Australia"}],"role":[{"role":"author","vocabulary":"crossref"}]},{"given":"Emily","family":"Lancsar","sequence":"additional","affiliation":[{"name":"Department of Health Economics Wellbeing and Society College of Health &amp; Medicine The Australian National University  Acton Australia"}],"role":[{"role":"author","vocabulary":"crossref"}]}],"member":"311","published-online":{"date-parts":[[2025,3,18]]},"reference":[{"key":"e_1_2_12_2_1","doi-asserted-by":"publisher","DOI":"10.2165\/00019053\u2010200624010\u201000001"},{"key":"e_1_2_12_3_1","first-page":"941","article-title":"Uncertainty and the Welfare Economics of Medical Care","volume":"53","author":"Arrow K.","year":"1963","journal-title":"American Economic Review"},{"key":"e_1_2_12_4_1","unstructured":"Australian Cancer Network Management of Metastatic Prostate Cancer Working Party2010.Clinical Practice Guidelines for the Management of Locally Advanced and Metastatic Prostate Cancer."},{"key":"e_1_2_12_5_1","unstructured":"Australian Government.2011a.Public Summary Document. 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