Expected net present value of sample information: from burden to investment

Med Decis Making. 2012 May-Jun;32(3):E11-21. doi: 10.1177/0272989X12443010. Epub 2012 Apr 30.

Abstract

The Expected Value of Information Framework has been proposed as a method for identifying when health care technologies should be immediately reimbursed and when any reimbursement should be withheld while awaiting more evidence. This framework assesses the value of obtaining additional evidence to inform a current reimbursement decision. This represents the burden of not having the additional evidence at the time of the decision. However, when deciding whether to reimburse now or await more evidence, decision makers need to know the value of investing in more research to inform a future decision. Assessing this value requires consideration of research costs, research time, and what happens to patients while the research is undertaken and after completion. The investigators describe a development of the calculation of the expected value of sample information that assesses the value of investing in further research, including an only-in-research strategy and an only-with-research strategy.

Publication types

  • Comparative Study
  • Research Support, Non-U.S. Gov't

MeSH terms

  • Algorithms
  • Bayes Theorem
  • Decision Making*
  • Health Care Costs
  • Health Planning / economics*
  • Health Planning / statistics & numerical data
  • Hospital Information Systems / economics*
  • Humans
  • Income / statistics & numerical data*
  • Medical Informatics / economics*
  • Medical Informatics / statistics & numerical data
  • Models, Organizational
  • Models, Theoretical
  • Monte Carlo Method
  • Quality-Adjusted Life Years
  • United Kingdom