Approaches to Aggregation and Decision Making-A Health Economics Approach: An ISPOR Special Task Force Report [5

Value in Health : the Journal of the International Society for Pharmacoeconomics and Outcomes Research
Charles PhelpsPatricia M Danzon

Abstract

The fifth section of our Special Task Force report identifies and discusses two aggregation issues: 1) aggregation of cost and benefit information across individuals to a population level for benefit plan decision making and 2) combining multiple elements of value into a single value metric for individuals. First, we argue that additional elements could be included in measures of value, but such elements have not generally been included in measures of quality-adjusted life-years. For example, we describe a recently developed extended cost-effectiveness analysis (ECEA) that provides a good example of how to use a broader concept of utility. ECEA adds two features-measures of financial risk protection and income distributional consequences. We then discuss a further option for expanding this approach-augmented CEA, which can introduce many value measures. Neither of these approaches, however, provide a comprehensive measure of value. To resolve this issue, we review a technique called multicriteria decision analysis that can provide a comprehensive measure of value. We then discuss budget-setting and prioritization using multicriteria decision analysis, issues not yet fully resolved. Next, we discuss deliberative processes, which...Continue Reading

Citations

Jul 18, 2020·The Patient·Susan dosReisJulia F Slejko
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Aug 11, 2021·Value in Health : the Journal of the International Society for Pharmacoeconomics and Outcomes Research·Siobhan BotwrightRaymond C W Hutubessy
May 21, 2019·Value in Health : the Journal of the International Society for Pharmacoeconomics and Outcomes Research·Charles E Phelps, Guruprasad Madhavan

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Methods Mentioned

BETA
genetic modification

Software Mentioned

ECEA
MCDA
SMARTER
ACEA
MAUT
Simple Multi - Attribute Rating Tool using Swings ( SMARTS )

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