Literature DB >> 29477402

The Impact of Decision Makers' Constraints on the Outcome of Value of Information Analysis.

Hendrik Koffijberg1, Saskia Knies2, Mart P Janssen3.   

Abstract

BACKGROUND: When proven effective, decision making regarding reimbursement of new health technology typically involves ethical, social, legal, and health economic aspects and constraints. Nevertheless, when applying standard value of information (VOI) analysis, the value of collecting additional evidence is typically estimated assuming that only cost-effectiveness outcomes guide such decisions.
OBJECTIVES: To illustrate how decision makers' constraints can be incorporated into VOI analyses and how these may influence VOI outcomes.
METHODS: A simulation study was performed to estimate the cost-effectiveness of a new hypothetical technology compared with usual care. Constraints were defined for the new technology on 1) the maximum acceptable rate of complications and 2) the maximum acceptable additional budget. The expected value of perfect information (EVPI) for the new technology was estimated in various scenarios, both with and without incorporating these constraints.
RESULTS: For a willingness-to-pay threshold of €20,000 per quality-adjusted life-year, the probability that the new technology was cost-effective equaled 57%, with an EVPI of €1868 per patient. Applying the complication rate constraint reduced the EVPI to €1137. Similarly, the EVPI reduced to €770 when applying the budget constraint. Applying both constraints simultaneously further reduced the EVPI to €318.
CONCLUSIONS: When decision makers explicitly apply additional constraints, beyond a willingness-to-pay threshold, to reimbursement decisions, these constraints can and should be incorporated into VOI analysis as well, because they may influence VOI outcomes. This requires continuous interaction between VOI analysts and decision makers and is expected to improve both the relevance and the acceptance of VOI outcomes.
Copyright © 2018 International Society for Pharmacoeconomics and Outcomes Research (ISPOR). Published by Elsevier Inc. All rights reserved.

Entities:  

Keywords:  decision making; multiple constraints; reimbursement; research prioritization; value of information

Mesh:

Year:  2017        PMID: 29477402     DOI: 10.1016/j.jval.2017.04.011

Source DB:  PubMed          Journal:  Value Health        ISSN: 1098-3015            Impact factor:   5.725


  2 in total

1.  Value of information analysis of an early intervention for subthreshold panic disorder: Healthcare versus societal perspective.

Authors:  Robbin H Ophuis; Joran Lokkerbol; Juanita A Haagsma; Mickaël Hiligsmann; Silvia M A A Evers; Suzanne Polinder
Journal:  PLoS One       Date:  2018-11-07       Impact factor: 3.240

2.  Exploring the misalignment on the value of further research between payers and manufacturers. A case study on a novel total artificial heart.

Authors:  Carlo Federici; Leandro Pecchia
Journal:  Health Econ       Date:  2022-04-23       Impact factor: 2.395

  2 in total

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