PURPOSE: Value of Information (VOI) has a long history, but its practice is not widely understood. We will present the draft reports of the ISPOR VOI Task Force, and discuss the current and future role of VOI analysis for research prioritization and coverage decisions in light of the evolving recommendations for cost-effectiveness analysis, notably those of the Second Panel on Cost-Effectiveness in Health and Medicine. Solutions to particularly challenging situations are discussed (i.e., the use of VOI for making decisions when 1) formal cost-effectiveness analysis is not explicitly used in the decision-making process; 2) multiple perspectives of analysis are considered, and 3) results are reported in the form of an “impact inventory).” Participants will be actively engaged in discussion of the challenges and proposed solutions. DESCRIPTION: Dr. Steuten will first present the draft reports of the VOI task force, giving special attention to discussion issues the final report will address. Dr. Murray will discuss the challenges for characterizing uncertainty in the absence of formal cost-effectiveness analysis or willingness to pay thresholds. Dr. Basu will discuss the implications of the recommendations of the Second Panel on Cost-Effectiveness in Health and Medicine specifically for VOI, addressing questions such as: How should VOI be used when multiple perspectives are reported? Can VOI inform research prioritization and coverage decisions based on an impact inventory, and if so, how? Worked examples will be used to demonstrate the challenges and discuss pros and cons of potential solutions. Finally, an audience survey will provide feedback on the draft reports and guidance on the discussion items. The workshop, as led by Dr. Fleurence, is intended to be valuable to researchers, decision makers, and industry analysts who are involved in supporting and making research prioritization and coverage decisions. Presented by the ISPOR Value of Information Analysis for Research Decisions: Emerging Good Practices Task Force