Dr Jeroen Jansen Outlines Challenges With Incorporating Novel Elements in Value Assessment

Jeroen Jansen, PhD, lead scientific advisor, Open-Source Value Project, Innovation and Value Initiative, discusses challenges with incorporating more novel concepts of value into value assessment.

Transcript

What challenges are there with incorporating more novel concepts of value into value assessment?

That’s an interesting question. Traditionally, a lot of the value assessment is done in what’s called a cost-effectiveness analysis framework where we calculate the expected costs and the expected risks and benefits for the patients. But now, there’s a discussion like what novel elements need to be incorporated. For example, one of the novel elements is what’s called “value of hope,” which means that even if on the average, 2 interventions give you the same benefits, it might be that one of the interventions has more variation in how individual patients may respond versus the other intervention. It might be that certain patients prefer the intervention where you see more variation in response because they might be the lucky ones to respond much better than the simple average. That’s currently, for example, overlooked.

Another component, one of the other novel elements, is something that’s called insurance value, where we say currently, value assessment is all about how can we optimize treatment allocation given the budgets we have to work with. But, the value of an intervention goes beyond the individuals patients. For example, if we have a new efficacious treatment for example for Alzheimer, that benefits everyone of us that is potentially at risk for Alzheimer disease.