All Sources Of Value Are Not Captured By All Models

Published Jan 17, 2013
Bethesda, MD, USA - Health economic models attempt to replicate a disease process of interest in order to analyze the costs and benefits of a health care intervention. In many models, the risk of disease is assumed to be constant. Some conditions, such as infectious diseases, are associated with external benefits where one person’s actions can decrease the risk of disease transmission in others. These benefits translate to additional disease prevention and/or cost benefits that would not be captured with typical modeling methodology. To accurately quantify the value of interventions to prevent infectious diseases, modeling methods capable of capturing benefits observed in targeted individuals as well as those outside of the target population are best. The article, "Understanding and use of dynamic models in health economic analyses," published in Volume 18, Issue 6, of ISPOR CONNECTIONS, presents the basic principles for the use of dynamic modeling in a manner accessible to all researchers. Lead author Dr. Sonya Snedecor describes this work as “a primer to help health economists and decision-makers become familiar with dynamic modeling methodology and understand its application in assessing the value of interventions in certain disease situations. Because this methodology is relatively more complex, some may consider it to be a ‘black box’ and thus may be resistant to its use in pharmacoeconomic modeling.” This article was originally presented as a workshop at the ISPOR 16th Annual International Meeting (2011) by author Sonya J. Snedecor of Pharmerit International and colleagues, Elamin H. Elbasha and Erik Dasback of Merck Research Laboratories.

ISPOR CONNECTIONS (ISSN 1538-5108), the bimonthly news & technical journal of the International Society for Pharmacoeconomics and Outcomes Research (ISPOR), strives to provide timely communications on methodological and health policy issues of interest to Society members.

International Society for Pharmacoeconomics and Outcomes Research (ISPOR) is a nonprofit, international, educational and scientific organization that strives to increase the efficiency, effectiveness, and fairness of health care resource use to improve health.

For more information:

Related Stories

Global Experts Introduce Strategic Action Plan to Accelerate Patient Access to Next-Generation DNA Sequencing in Oncology

Sep 27, 2022

Value & Outcomes Spotlight, the health economics and outcomes research (HEOR) news magazine of ISPOR, announced the publication of a supplement, “A Plan of Action: Accelerating Patient Access to Next-Generation Sequencing in Oncology,” that details the challenges in improving patient access to next-generation DNA sequencing and proposes a plan of action to improve access.

Alzheimer’s Disease: Modifying Value Frameworks to Evaluate Current and Emerging Interventions

Mar 15, 2021

Value & Outcomes Spotlight announced the publication of a special supplement exploring value assessment of new interventions in Alzheimer’s disease. The supplement, “Valuing Future Alzheimer’s Disease Treatments: The Need for a Holistic Approach,” was sponsored by Biogen and is based on a series of educational webinars produced by Biogen and ISPOR.

Virtual ISPOR Europe 2020 Live Conference Concluded

Nov 23, 2020

ISPOR announced that its Virtual ISPOR Europe 2020 conference, “Improving Health: Establishing Incentives and Sharing Value,” is now available on demand through 31 December 2020. ISPOR Europe is the leading European conference for health economics and outcomes research.
Your browser is out-of-date

ISPOR recommends that you update your browser for more security, speed and the best experience on Update my browser now