OBJECTIVES: Earlier cancer diagnosis and advances in science are resulting in improved patient and societal outcomes. However, payer frameworks find it difficult to assess the wider value of these advances, in particular in earlier stage disease where time to access needs to be balanced with maturity of the endpoints. Without a proper evaluation, there is a risk that people with cancer will not have access to the valuable transformative treatments they need.

METHODS: To define the clinical and economic value of oncology medicines from the perspectives of patients, physicians, health economists, regulators, and payers, an international group of 24 leading cancer community experts came together to develop principles for defining and assessing the value of cancer therapies. The expert group engaged via interviews, surveys, virtual discussion panels, and live discussion over five months.

RESULTS: Among seven identified principles, two focused on the broader economic value and build on the ISPOR value flower with specific consideration to the application for cancer medicines:

• Assess the broad economic impact on the cost of healthcare resources that a patient needs, as well as the socio-economic impact for both patients and those in a caregiving capacity.
• Consider other value aspects of relevance to patients and society including insurance value, the value of choice, scientific spillovers, equity of access, and real option value, which are particularly relevant in earlier stage disease where final outcomes are difficult to assess

CONCLUSIONS: This research recommends further efforts to develop mechanisms to capture and measure the downstream benefits of cancer care as well as the broader value components. This will then support more holistic payer frameworks in the evaluation of treatment options for people with cancer (especially those with earlier cancer diagnoses), including the socio-economic effects to people with cancer, those in a caregiving role, and society at large.