Guest post by Mark Linthicum, Director of Scientific Communications at The Innovation and Value Initiative
To get to Value Assessment 2.0, a concerted effort across fields of expertise is needed to improve methods and establish practical approaches that make sense in real-world decision making. The Innovation and Value Initiative’s Open-Source Value Project aims to catalyze this change, and the research findings and methods development emerging from these ongoing efforts to develop open-source value models are yielding valuable insights.
At the annual ISPOR meeting last week, the nonprofit launched a new research brief series, Value Blueprints, designed to share these learnings. Our hope is that the series will add to the dialogue and spark further exploration into advancing next-generation value assessment.
The series launched with two inaugural research briefs. The first of these, Patient Insights as the Foundation for Value, Highlights results from qualitative research IVI conducted prior to beginning work on the open-source IVI-NSCLC model, which estimates outcomes and relative value of sequences of therapy for EGFR+ non-small cell lung cancer (NSCLC). We found, for example, that patients emphasize the need to make frequent trade-offs in treatment decisions, such as when weighing treatments’ potential efficacy against impacts on quality of life and day-to-day functioning. Patients also highlighted factors like treatments’ the route of administration and the risk of side effects.
Our second brief, Exploring the Implications of the ‘Value of Hope’, examines how the preferences of NSCLC patients, who research says may be willing to accept the risk of poorer outcomes in hopes of long-term survival benefits, may impact value estimates and whether it should be considered as a key component of patient-centered value assessment.
As a nonprofit dedicated to advancing the science and practice of value assessment, it’s our desire that these briefs – and future Value Blueprints snapshots – motivate others to take up the mantle of patient-centered and transparent health economics and outcomes research. For more information on IVI click here and for more information on a research Request for Proposal IVI recently released click here.