As Value Assessment Frameworks Evolve, Are They Finally Ready for Prime Time?

Area of Science:

• Health economics
• Health policy
• Value-based healthcare

Background:

• Value assessment frameworks are increasingly adopted by US healthcare decision-makers, including government agencies, PBMs, employers, and health plans.
• Critical evaluation of these frameworks is essential to ensure accurate value measurement and reliable decision-making support.

Purpose of the Study:

• To analyze the evolution of value assessment frameworks in the US over the past two years.
• To identify new frameworks and updates to existing ones.
• To assess the advancement of the field in accurately measuring healthcare value.

Main Methods:

• Analysis of three active value assessment frameworks: Institute for Clinical and Economic Review (ICER), Innovation and Value Initiative (IVI), and National Comprehensive Cancer Network (NCCN).
• Evaluation against six key areas of concern regarding framework performance and utility.

Main Results:

• Value assessment frameworks are progressing towards more accurate value measurement and reliable decision-making support.
• Each of the six key areas of concern has seen some level of progress or attention from at least one framework.

Conclusions:

• Value assessment frameworks show promise as inputs for healthcare decision-making.
• These frameworks have limitations and should be used as one tool among many, not as the sole basis for decisions.