May 7, 2023
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A Health Economics Approach to US Value Assessment Frameworks
Sunday, 7 May 2023 | Course runs 1 Day
TRACK: Health Technology Assessment
LENGTH: 4 Hours | Course runs 1 day
This short course is offered in-person at the ISPOR 2023 conference. Separate registration is required. Visit the ISPOR 2023 website to register and learn more.
8:00AM-12:00PM Eastern Daylight Time (EDT)
This short course focuses on the recent ISPOR Special Task Force Report, “A Health Economics Approach to US Value Frameworks.” It begins with an overview of recent US value assessment frameworks, with emphasis on the importance of perspective and decision context in the construction and use of value frameworks. It then reviews how a health economics approach from a societal or health plan perspective leads to use of cost-effectiveness analysis (CEA) to help guide efficient resource allocation.
Discussions of how measuring some aspects of the value of health benefits could augment the standard cost-per-quality-adjusted-life-year metric for CEA are included. Elements such as value of insurance, value of “hope,” real option value, severity of illness, and several others, have the potential to better capture how patients and/or society value the benefits of some treatments; each one is based on some research findings and some case examples are shown.
The course then reviews how budget considerations, cost-effectiveness thresholds, and opportunity costs enter CEA-based decision-making. Next faculty reviews broader approaches to cost-benefit aggregation and value-based decision-making, including extended CEA, augmented CEA (introduced by this Report), and multi-criteria decision analysis (MCDA), with an overview of issues and new approaches to MCDA. It then discusses the strengths and weaknesses of recent US value assessment frameworks from this health economic perspective and closes with a review of the high-level recommendations of this Special Task Force.
Registrants receive a digital course book. Copyright, Trademark and Confidentiality Policies apply.
4 Hours | Course runs 1 Day