ISPOR Special Task Force Provides Recommendations for Measuring and Communicating the Value of Pharmaceuticals and Other Technologies in the US
Report Calls for Development of a More Comprehensive Economic Evaluation
Article ID: 690029
Released: 26-Feb-2018 8:05 AM EST
Newswise — Lawrenceville, NJ, USA—February 26, 2018—Value in Health, the official journal of ISPOR (the professional society for health economics and outcomes research), announced today the publication of a series of articles presenting and discussing the findings of the ISPOR Special Task Force on US Value Assessment Frameworks, which was co-chaired by Lou Garrison, PhD, University of Washington, and Peter Neumann, ScD, Tufts Medical Center. The special themed section, US Value Assessment Frameworks, appears in the February 2018 issue of Value in Health. The guest editors are Richard Norman, PhD, Curtin University, Perth, Australia, Kalipso Chalkidou, PhD, Imperial College, London, United Kingdom, and Anthony J. Culyer, CBE, BA, University of York, Heslington, York, United Kingdom.
The section comprises 12 articles, beginning with an overview by the guest editors in which they outline core value-assessment challenges and introduce the other articles in the series. This overview is followed by the 7 papers that form the Special Task Force report, providing specific guidance regarding methods of measuring and communicating the value of pharmaceuticals and other technologies for decision making in the United States. As described in the series, the Special Task Force makes 6 key recommendations:
- Be explicit about decision context and perspective in value assessment frameworks.
- Base health plan coverage and reimbursement decisions on an evaluation of the incremental costs and benefits of healthcare technologies as is provided by cost-effectiveness analysis.
- Develop value thresholds to serve as one important input to help guide coverage and reimbursement decisions.
- Manage budget constraints and affordability based on cost-effectiveness principles.
- Test and consider using structured deliberative processes for health plan coverage and reimbursement decisions.
- Explore and test novel elements of benefit to improve value measures that reflect the perspectives of both plan members and patients.
The series closes with 4 commentaries offering value-assessment perspectives from key experts representing payers, patients, academia, and the pharmaceutical industry. “Value assessment is an integral component of decision making in health,” said Richard J. Willke, PhD, ISPOR’s chief science officer and a member of the Task Force leadership group. “This themed section not only presents the task force summary and key recommendations, but goes on to provide valuable insights from other stakeholders. We trust that the Special Task Force recommendations and these additional perspectives included will support both researchers and decision makers as they seek new approaches to the measurement and communication of the value of pharmaceuticals and other medical technologies.”
About the Special Task Force
The ISPOR Special Task Force on US Value Assessment Frameworks was part of an ISPOR Initiative on US Value Assessment Frameworks, which enlisted the expertise of leading health economists, concentrating on what the field of health economics can provide to help inform the development and use of value assessment frameworks. The task force was formed to review relevant perspectives and appropriate approaches and methods to support the definition and use of high-quality value frameworks in the United States.
ISPOR, the professional society for health economics and outcomes research (HEOR), is an international, multistakeholder, nonprofit dedicated to advancing HEOR excellence to improve decision making for health globally. The Society is the leading source for scientific conferences, peer-reviewed and MEDLINE®-indexed publications, good practices guidance, education, collaboration, and tools/resources in the field.
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ABOUT VALUE IN HEALTH
Value in Health (ISSN 1098-3015) is an international, indexed journal that publishes original research and health policy articles that advance the field of health economics and outcomes research to help healthcare leaders make evidence-based decisions. The journal’s 2016 impact factor score is 4.235. Value in Health is ranked 3rd out of 77 journals in health policy and services, 7th out of 347 journals in economics, and 9th out of 90 journals in healthcare sciences and services. Value in Health is a monthly publication that circulates to more than 10,000 readers around the world.
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ABOUT ISPOR GOOD PRACTICES FOR OUTCOMES RESEARCH TASK FORCE REPORTS
ISPOR has earned an international reputation for research excellence based, in part, on its Good Practices for Outcomes Research Task Force Reports. These highly cited reports are expert consensus guideline recommendations on good practice standards for outcomes research (clinical, economic, and patient-reported outcomes) and on the use of this research in healthcare decision making. ISPOR Task Forces comprise subject matter experts representing different stakeholders from diverse work environments (ie, regulators, payers, manufacturers, technology assessors, etc from research, government, academic, and industry sectors around the world). All ISPOR Good Practices for Outcomes Research Task Force Reports are published in the Society’s scientific journal, Value in Health, and are made freely available as open access articles as part of the Society’s mission.