Value of information An innovative approach to prioritizing comparative effectiveness research AHRQ...
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![Page 1: Value of information An innovative approach to prioritizing comparative effectiveness research AHRQ Annual Meeting September 29, 2010.](https://reader030.fdocuments.us/reader030/viewer/2022032702/56649ce55503460f949b2cf2/html5/thumbnails/1.jpg)
Value of information
An innovative approach to prioritizing comparative effectiveness research
AHRQ Annual MeetingSeptember 29, 2010
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Organizers & Presenters
William Lawrence, MD, MS Joanna E. Siegel, RN, SM, SD Ava John-Baptiste, PhD David O. Meltzer, MD, PhD Gillian D. Sanders, PhD
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Session Overview
The promise and challenge of using value of information to inform comparative effectiveness research priorities
Ava John-Baptiste, PhD
Value of Information Analysis to Inform Priorities for Health Research: Moving from Theory to Practice
David O. Meltzer, MD, PhD
Using Value of Information to Prioritize Future Research: A Case Study
Gillian Sanders, PhD
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Session Goals
Outline the theoretical basis of VOI Describe use of VOI Discuss barriers to applying VOI Consider possible solutions Present AHRQ funded VOI research
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Research
Can improve health care decision making
… at a cost
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Prioritizing Research
Research topics– Span a variety of conditions– Pertain to a variety of populations and
subgroups– Prevention, diagnosis and treatment – Drugs, devices, procedures or strategies
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How can research funding organizations systematically target investments in research where the
impact of reducing the uncertainties in decisions will have
the greatest benefits?
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Topic
For diabetic patients, what is the effectiveness of between visit patient outreach compared to standard patient care on adherence to therapy?
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Topic
What is the comparative effectiveness of typical and atypical antipsychotics for schizophrenia, bipolar disorder and other disorders?
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Topic
What is the comparative effectiveness of percutaneous coronary interventions and coronary artery bypass grafting for coronary artery disease?
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AHRQ Priority Setting Criteria
Appropriateness Importance
– Disease burden– Cost– Stakeholder support– Uncertainty/controversy
Desirability of new research Feasibility Potential value
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Value of Information
A measure of the value of acquiring more information to better inform a health care decision
…based on an estimate of the foregone benefit of making the wrong decision
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Value of Information
Health care decisions are uncertain We choose what we believe is the best option With more information we may choose a different
option
Value of Information = p Wrong Decision x Expected Value Wrong Decision
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VOI Components
1. Decision with two or more options 2. A model relating the expected value of
each option to uncertain parameters3. A method of calculation
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Expected Value
ModelParameters + Uncertainty
Value of Information = p Wrong Decision x Expected Value Wrong Decision
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Opportunities
Encourages structured decision making Potential to increase transparency Can quantify research benefits relative to
Potential to reduce uncertainty Impact on decision making Cost
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Challenges
Complex models are resource intensive Simple models may exclude important
elements of expected value Estimating uncertainty can be difficult
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Questions?
Comments?