OBJECTIVES: The development of this reporting guidance and checklist aims to ensure that the conduct and reporting of value of information (VOI) analyses is transparent, reproducible and of good quality, allowing thorough critique.

METHODS: A comprehensive literature review generated a list of candidate reporting items. These items underwent a modified Delphi process consisting of three rounds of web-based surveys with key stakeholders. Participants rated items on a 9-point Likert scale to indicate their relevance when reporting the minimal, essential information about VOI methods. Participants also provided a rationale for their scores and commented on the wording of items. After three completed rounds, the steering committee held a two-day consensus meeting with a quorum of 5 members in May 2022. All members were given the Delphi scores and comments from each round to review. Moderated round table discussion lasted 15-20 minutes followed by anonymous virtual voting with the options ‘include’, ‘exclude’, ‘merge’, or ‘unsure’. A final decision on each item required at least 70% of participant votes.

RESULTS: Out of 34 Delphi registrants, 30 responded in Round 1, 25 responded in Round 2, and 24 responded in Round 3. Overall, no items were excluded from the checklist based on each round’s score thresholds. All 26 items, alongside their split, merged or edited iterations, proceeded to the two-day consensus meeting. After detailed review of each item’s wording, 21 items were finalized for inclusion, 2 items were merged with an included item, and 8 items were rejected.

CONCLUSIONS: The Delphi process and consensus meeting ensured a transparent decision-making process equally informed by a variety of stakeholder and expert voices. Final recommendations will be published as a user-friendly checklist. This will support the dissemination of VOI results and ensure that VOI analyses are reported and conducted in a transparent, rigorous manner.