May 5: A Health Economics Approach to US Value Assessment Frameworks- In Person at ISPOR 2024
event-Short-Courses

May 5, 2024

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A Health Economics Approach to US Value Assessment Frameworks (in person at ISPOR 2024)

LEVEL: Intermediate
TRACK: Health Technology Assessment
LENGTH: 4 Hours | Course runs 1 day

This short course is offered in-person at the ISPOR 2024 conference. Separate registration is required.  Visit the ISPOR 2024 Program page to register and learn more.

Sunday, 5 May 2024 | Course runs 1 Day
08:00-12:00 Eastern Standard Time (EST)

DESCRIPTION

Separate registration required.

This short course will focus on the recent ISPOR Special Task Force Report, “A Health Economics Approach to US Value Frameworks.” It will begin 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 will then review 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.

There will be in-depth discussion of how measuring some aspects of the value of health benefits could augment the standard cost-per-quality-adjusted-life-year metric for CEA. 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 will be shown.

The course will then review how budget considerations, cost-effectiveness thresholds, and opportunity costs enter CEA-based decision-making. Next faculty will review 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.

FACULTY MEMBERS

Richard J. Willke, PhD
Senior Scientific Adviser and CSO Emeritus
ISPOR
Lawrenceville, NJ, USA

Louis P. Garrison, Jr, PhD
Professor Emeritus
The Comparative Health Outcomes, Policy, and Economics Institute
Department of Pharmacy, University of Washington
Seattle, WA, USA

Charles Phelps, MBA, PhD
University Professor & Provost Emeritus
Office of the Provost
University of Rochester
Rochester, NY, USA

 

Basic Schedule:

4 Hours | Course runs 1 Day

ISPOR short courses are designed to enhance knowledge and techniques in core health economics and outcomes research (HEOR) topics as well as emerging trends in the field. Short courses offer 4 or 8 hours of premium scientific education and an electronic course book. Active attendee participation combined with our expert faculty creates an immersive and impactful learning experience. Short courses are not recorded and are only available during the live course presentation.

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