A Health Economics Approach to US Value Assessment Frameworks—Introduction: An ISPOR Special Task Force Report [1]

Concerns about rising spending on prescription drugs and other areas of health care have led to multiple initiatives in the United States designed to measure and communicate the value of pharmaceuticals and other technologies for decision making. In this section we introduce the work of the Internat...

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Bibliographic Details
Published in:Value in health 2018-02, Vol.21 (2), p.119-123
Main Authors: Neumann, Peter J., Willke, Richard J., Garrison, Louis P.
Format: Article
Language:English
Subjects:
Associations
Cancer
Cardiology
Clinical outcomes
Cost analysis
cost-effectiveness analysis
Decision making
Drugs
Economics
Economists
Evaluation
Experts
Health economics
Health initiatives
Oncology
Pharmaceutical industry
Pharmacology
Prescription drugs
QALYs
Task forces
Valuation methods
Value
value assessment frameworks
Visibility
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Summary:Concerns about rising spending on prescription drugs and other areas of health care have led to multiple initiatives in the United States designed to measure and communicate the value of pharmaceuticals and other technologies for decision making. In this section we introduce the work of the International Society for Pharmacoeconomics and Outcomes Research Special Task Force on US Value Assessment Frameworks formed to review relevant perspectives and appropriate approaches and methods to support the definition and use of high-quality value frameworks. The Special Task Force was part of the International Society for Pharmacoeconomics and Outcomes Research 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. We focus on five value framework initiatives: the American College of Cardiology/American Heart Association, the American Society of Clinical Oncology, the Institute for Clinical and Economic Review, the Memorial Sloan Kettering Cancer Center, and the National Comprehensive Cancer Network. These entities differ in their missions, scope of activities, and methodological approaches. Because they are gaining visibility and some traction in the United States, it is essential to scrutinize whether the frameworks use approaches that are transparent as well as conceptually and methodologically sound. Our objectives were to describe the conceptual bases for value and its use in decision making, critically examine existing value frameworks, discuss the importance of sound conceptual underpinning, identify key elements of value relevant to specific decision contexts, and recommend good practice in value definition and implementation as well as areas for further research.
ISSN:1098-3015
1524-4733
DOI:10.1016/j.jval.2017.12.012