OPUF (Online Elicitation of Personal Utility Functions): Understanding What Brings Value to the Individual
Discussion Leader: Nancy Joy Devlin, PhD, School of Population and Global Health, University of Melbourne, Melbourne, VIC, Australia
Discussants: Ben A Van Hout, PhD, ScHARR, University of Sheffield, Sheffield, UK; Marieke Heisen, PhD, Open Health, Rotterdam, Netherlands; Paul Schneider, MD, MSc, ScHARR, University of Sheffield, Sheffield, UK
PURPOSE:Established valuation methods, such as TTO and DCE require data from large samples. They typically lead to estimates of an “average” value function and are very limited in exploring the heterogeneity in peoples values. Given an instrument with different dimensions with various levels (within the workshop the EQ-5D-5L), the personal utility approach elicits weights from each individual for the different dimensions together with values concerning the levels within dimensions. Additionally, questions are posed to enable anchoring on a 0-1 scale. The advantage is that the result is “personal”; it leads to a value function for each individual and can be used in small samples. Workshop participants will get a live demonstration of the tool using the EQ-5D. Using a real-time survey we will ask the audience to participate. As such, an “ISPOR-participant-value function” for the EQ-5D-5L will be derived. (It will be a biased estimate, but it will be fun to analyse and present.) Results will be available immediately and the “US-ISPOR-2023 value function” will be compared with those obtained from the general public. This workshop will resonate with an audience that is interested in valuation, innovation, patient-centric solutions, individualized medicine, and rare diseases.
DESCRIPTION:In this workshop, we will address the WHY-HOW-WHAT-WHEN of OPUF. WHY (10min): Dr. Van Hout will discuss the unmet need that OPUF can fulfil in comparison to existing methods. HOW (5min): Dr. Devlin will discuss the theoretical framework to explain what sets OPUF apart from current stated preference methods. WHAT (20min): Dr. Schneider will provide a live demonstration based on the EQ-5D-5L with participation of the audience, and show how OPUF can be used to generate aggregate and respondent-level results. WHEN (5min): Dr. Heisen will the discuss in which cases OPUF should be considered. Dr. Devlin will conclude the workshop and chair the Q&A session.