Need For Speed In Value Of Information Analysis In Health Care: Some New Developments

Vancouver, Canada – Mathematical modeling has become fundamental to health technology assessment (HTA) and comparative effectiveness research. It allows comprehensive, transparent, and objective quantification of evidence in evaluating health technologies. Such models not only tell us which health technology provides the best value for the money, but can also highlight areas of the evidence base that should be targeted in future research. This relatively new approach in prioritizing research is referred to as expected value of information (EVI) analysis.

Expected value of information methods can be used to decide whether future research is required, and if so, what aspects of the evidence base should be investigated, and how large the future study should be. Unfortunately, in many instances, the calculation of EVI metrics is fraught with computational challenges. This has been cited as an important barrier in the uptake of EVI.

In a recent paper, “Need for Speed: An Efficient Algorithm for Calculation of Single-Parameter Expected Value of Partial Perfect Information,” published in Value in Health, the authors describe a novel method for the calculation of a fundamental measure of EVI: the expected value of partial perfect information (EVPPI). The results of the simulations show that the novel method often performs remarkably faster than the traditional computation methods for EVPPI calculation. The method is implemented and documented in popular software platforms, making it further accessible to the investigators.

Lead author, Mohsen Sadatsafavi, M.D, Ph.D, from the University of British Columbia, says, “EVI is increasingly being advertised as an objective and practically relevant method of prioritizing research in decision-analytic models, as evidenced by the recent publication of a series of guidelines in leading HTA journals on good modeling practice. Nevertheless, important barriers are encountered by the investigators who plan to use the recommended practices. The present works is a step forward in providing the HTA community with practical and reliable computation methods for EVI analysis.”

Value in Health (ISSN 1098-3015) publishes papers, concepts, and ideas that advance the field of pharmacoeconomics and outcomes research as well as policy papers to help health care leaders make evidence-based decisions. The journal is published bi-monthly and has over 8,000 subscribers (clinicians, decision makers, and researchers worldwide).

International Society for Pharmacoeconomics and Outcomes Research (ISPOR) is a nonprofit, international, educational and scientific organization that strives to increase the efficiency, effectiveness, and fairness of health care resource use to improve health.

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