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

Value in Health : the Journal of the International Society for Pharmacoeconomics and Outcomes Research
Hendrik KoffijbergMart P Janssen

Abstract

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. To illustrate how decision makers' constraints can be incorporated into VOI analyses and how these may influence VOI outcomes. 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. 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 a...Continue Reading

Citations

Sep 24, 2020·Journal of Developmental Origins of Health and Disease·Tessa J RoseboomMark A Hanson
Mar 3, 2020·Value in Health : the Journal of the International Society for Pharmacoeconomics and Outcomes Research·Elisabeth FenwickClaire Rothery
Mar 22, 2020·Value in Health : the Journal of the International Society for Pharmacoeconomics and Outcomes Research·Claire RotheryElisabeth Fenwick
May 29, 2021·Applied Health Economics and Health Policy·Haitham TuffahaStephen Birch

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