Value Assessment Frameworks

Healthcare systems have been moving toward more value-driven approaches that focus on evaluating therapeutic options based on health outcomes, value to the patient, and effectiveness compared with other potential treatment options. As a result, a number of value assessment frameworks have been developed in the past few years. The currently available frameworks, however, are widely diverse in their approaches. This inconsistency can lead to variable evaluations of treatments.

ISPOR recently led an initiative on US Value Assessment Frameworks collaborating with leading experts and key stakeholders in the health economics and outcomes research community. An ISPOR Summit, "Value Assessment Frameworks Stakeholder Conference," was held on September 23, 2016 in Washington, DC, USA that was designed to convene stakeholders across all segments of healthcare to generate input and help guide the scope of work for the Initiative's Special Task Force. More than 250 healthcare stakeholders attended the conference. The initiative culminated with the creation of 7 Special Task Force Reports that were published in a themed issue of Value in Health in February 2018.

An ISPOR Summit, "Value Assessment Frameworks Stakeholder Conference," was held on September 23, 2016 in Washington, DC, USA that was designed to convene stakeholders across all segments of healthcare to generate input and help guide the scope of work for the Initiative's Special Task Force. More than 250 healthcare stakeholders attended the conference. The initiative culminated with the creation of 7 Special Task Force Reports that were published in a themed issue of Value in Health in February 2018.

The Special Task Force Reports conclude that several areas should be considered when assessing value, including specificity about context and perspectives, consideration of incremental costs and benefits, and development of value thresholds. ISPOR continues to examine this important issue especially with respect to multiple stakeholders perspectives; most notably patients.

Commentaries on the Special Task Force Reports include:

• ISPOR’s Initiative on US Value Assessment Frameworks: The Use of Cost-Effectiveness Research in Decision Making among US Insurers
• ISPOR’s Initiative on US Value Assessment Frameworks: A Missed Opportunity for ISPOR and Patients
• ISPOR’s Initiative on US Value Assessment Frameworks: Seeking a Role for Health Economics
• ISPOR’s Initiative on US Value Assessment Frameworks: An Industry Perspective

An editorial on the initiatives papers was also published:

• A Health Economics Approach to US Value Frameworks: Serving the Needs of Decision Making

Following the work of that Special Task Force, on October 19, 2018, ISPOR held a Summit entitled “New Approaches to Value Assessment: Towards More Informed Pricing in Healthcare.”  This Summit explored and debated both standard and more recently proposed approaches to measuring value and how they could be used in pricing and coverage decisions. The proceedings of this Summit were published as a Supplement to Value in Health in June 2018.