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Approaches to identifying, measuring, and aggregating elements of value.
1Office of Health Economics.
International Journal of Technology Assessment in Health Care
|December 3, 2013
Summary
Assessing drug value involves understanding benefits, costs, and payer willingness to pay. International examples reveal how different health technology assessment (HTA) systems measure and combine value elements, impacting decisions.
Area of Science:
- Health economics
- Health technology assessment
- Pharmaceutical policy
Background:
- Drug pricing and approval are linked to value through cost-effectiveness analysis and therapeutic added value.
- Payer assessment of value incorporates benefit, cost, willingness to pay, and uncertainty management.
Purpose of the Study:
- To explore elements of value in health technology assessment using international examples.
- To examine approaches for scoring and combining value elements for decision-making.
Main Methods:
- Analysis of international health technology assessment (HTA) systems.
- Exploration of diverse value elements, measurement approaches, and aggregation methods.
Main Results:
- Identified a variety of value elements, measures, and aggregation approaches across HTA systems.
- Demonstrated that differences in measurement and aggregation significantly alter outcomes.
- Argued for aligning value assessment with societal values underpinning health systems.
Conclusions:
- Further research is needed on achieving consistency in value elements across health systems.
- Investigating the merits of discrete versus continuous value measures is recommended.
- Exploring the future of structured decision-making for aggregating value elements is crucial.
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