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A Review of Web-Based Tools for Value-of-Information Analysis

Author

Listed:
  • Haitham Tuffaha

    (The University of Queensland)

  • Claire Rothery

    (University of York)

  • Natalia Kunst

    (University of Oslo
    Yale University School of Public Health)

  • Chris Jackson

    (University of Cambridge)

  • Mark Strong

    (University of Sheffield)

  • Stephen Birch

    (The University of Queensland)

Abstract

Value-of-information analysis (VOI) is a decision-theoretic approach that is used to inform reimbursement decisions, optimise trial design and set research priorities. The application of VOI analysis for informing policy decisions in practice has been limited due, in part, to the perceived complexity associated with the calculation of VOI measures. Recent efforts have resulted in the development of efficient methods to estimate VOI measures and the development of user-friendly web-based tools to facilitate VOI calculations. We review the existing web-based tools including Sheffield Accelerated Value of Information (SAVI), the web interface to the BCEA (Bayesian Cost-Effectiveness Analysis) R package (BCEAweb), Rapid Assessment of Need for Evidence (RANE), and Value of Information for Cardiovascular Trials and Other Comparative Research (VICTOR). We describe what each tool is designed to do, the inputs they require, and the outputs they produce. Finally, we discuss how tools for VOI calculations might be improved in the future to facilitate the use of VOI analysis in practice.

Suggested Citation

  • Haitham Tuffaha & Claire Rothery & Natalia Kunst & Chris Jackson & Mark Strong & Stephen Birch, 2021. "A Review of Web-Based Tools for Value-of-Information Analysis," Applied Health Economics and Health Policy, Springer, vol. 19(5), pages 645-651, September.
    • Handle: RePEc:spr:aphecp:v:19:y:2021:i:5:d:10.1007_s40258-021-00662-4
    DOI: 10.1007/s40258-021-00662-4
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    References listed on IDEAS

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    1. David O. Meltzer & Ties Hoomans & Jeanette W. Chung & Anirban Basu, 2011. "Minimal Modeling Approaches to Value of Information Analysis for Health Research," Medical Decision Making, , vol. 31(6), pages 1-22, November.
    2. David O. Meltzer & Ties Hoomans & Jeannette W. Chung & Anirban Basu & Kathryn J. Aikin & Amie C. O’Donoghue & John L. Swasy & Helen W. Sullivan & David G. T. Whitehurst & Stirling Bryan & Martyn Lew, 2011. "Minimal Modeling Approaches to Value of Information Analysis for Health Research," Medical Decision Making, , vol. 31(6), pages 785-786, November.
    3. Anna Heath & Natalia Kunst & Christopher Jackson & Mark Strong & Fernando Alarid-Escudero & Jeremy D. Goldhaber-Fiebert & Gianluca Baio & Nicolas A. Menzies & Hawre Jalal, 2020. "Calculating the Expected Value of Sample Information in Practice: Considerations from 3 Case Studies," Medical Decision Making, , vol. 40(3), pages 314-326, April.
    4. Briggs, Andrew & Sculpher, Mark & Claxton, Karl, 2006. "Decision Modelling for Health Economic Evaluation," OUP Catalogue, Oxford University Press, number 9780198526629.
    5. Haitham W. Tuffaha & Joanne Aitken & Suzanne Chambers & Paul A. Scuffham, 2019. "A Framework to Prioritise Health Research Proposals for Funding: Integrating Value for Money," Applied Health Economics and Health Policy, Springer, vol. 17(6), pages 761-770, December.
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