IDEAS home Printed from https://ideas.repec.org/a/spr/pharme/v34y2016i3d10.1007_s40273-015-0346-z.html
   My bibliography  Save this article

Use of Value of Information in Healthcare Decision Making: Exploring Multiple Perspectives

Author

Listed:
  • Jill Bindels

    (Maastricht University Medical Centre)

  • Bram Ramaekers

    (Maastricht University Medical Centre)

  • Isaac Corro Ramos

    (Erasmus University Rotterdam)

  • Leyla Mohseninejad

    (Creativ-Ceutical)

  • Saskia Knies

    (National Health Care Institute (Zorginstituut Nederland))

  • Janneke Grutters

    (Radboud University Medical Center)

  • Maarten Postma

    (University of Groningen
    University of Groningen)

  • Maiwenn Al

    (Erasmus University Rotterdam)

  • Talitha Feenstra

    (University of Groningen
    National Institute for Public Health and the Environment (RIVM))

  • Manuela Joore

    (Maastricht University Medical Centre)

Abstract

Background Value of information (VOI) is a tool that can be used to inform decisions concerning additional research in healthcare. VOI estimates the value of obtaining additional information and indicates the optimal design for additional research. Although it is recognized as good practice in handling uncertainty, it is still hardly used in decision making in the Netherlands. Objective This paper aims to examine the potential value of VOI, barriers and facilitators and the way forward with the use of VOI in the decision-making process for reimbursement of pharmaceuticals in the Netherlands. Methods Three focus group interviews were conducted with researchers, policy makers, and representatives of pharmaceutical companies. Results The results revealed that although all stakeholders recognize the relevance of VOI, it is hardly used and many barriers to the performance and use of VOI were identified. One of these barriers is that not all uncertainties are easily incorporated in VOI, and the results may be biased if structural uncertainties are ignored. Furthermore, not all research designs indicated by VOI may be feasible in practice. Conclusions To fully embed VOI into current decision-making processes, a threshold incremental cost-effectiveness ratio and guidelines that clarify when and how VOI should be performed are needed. In addition, it should be clear to all stakeholders how the results of VOI are used in decision making.

Suggested Citation

  • Jill Bindels & Bram Ramaekers & Isaac Corro Ramos & Leyla Mohseninejad & Saskia Knies & Janneke Grutters & Maarten Postma & Maiwenn Al & Talitha Feenstra & Manuela Joore, 2016. "Use of Value of Information in Healthcare Decision Making: Exploring Multiple Perspectives," PharmacoEconomics, Springer, vol. 34(3), pages 315-322, March.
  • Handle: RePEc:spr:pharme:v:34:y:2016:i:3:d:10.1007_s40273-015-0346-z
    DOI: 10.1007/s40273-015-0346-z
    as

    Download full text from publisher

    File URL: http://link.springer.com/10.1007/s40273-015-0346-z
    File Function: Abstract
    Download Restriction: Access to the full text of the articles in this series is restricted.

    File URL: https://libkey.io/10.1007/s40273-015-0346-z?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Mark Strong & Jeremy E. Oakley & Alan Brennan & Penny Breeze, 2015. "Estimating the Expected Value of Sample Information Using the Probabilistic Sensitivity Analysis Sample," Medical Decision Making, , vol. 35(5), pages 570-583, July.
    2. Karl Claxton & Susan Griffin & Hendrik Koffijberg & Claire McKenna, 2013. "Expected health benefits of additional evidence: Principles, methods and applications," Working Papers 083cherp, Centre for Health Economics, University of York.
    3. Briggs, Andrew & Sculpher, Mark & Claxton, Karl, 2006. "Decision Modelling for Health Economic Evaluation," OUP Catalogue, Oxford University Press, number 9780198526629.
    4. Henk Broekhuizen & Catharina Groothuis-Oudshoorn & Janine Til & J. Hummel & Maarten IJzerman, 2015. "A Review and Classification of Approaches for Dealing with Uncertainty in Multi-Criteria Decision Analysis for Healthcare Decisions," PharmacoEconomics, Springer, vol. 33(5), pages 445-455, May.
    5. Elisabeth Fenwick & Karl Claxton & Mark Sculpher, 2001. "Representing uncertainty: the role of cost‐effectiveness acceptability curves," Health Economics, John Wiley & Sons, Ltd., vol. 10(8), pages 779-787, December.
    6. Nicky J. Welton & Howard H. Z. Thom, 2015. "Value of Information," Medical Decision Making, , vol. 35(5), pages 564-566, July.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Robbin H Ophuis & Joran Lokkerbol & Juanita A Haagsma & Mickaël Hiligsmann & Silvia M A A Evers & Suzanne Polinder, 2018. "Value of information analysis of an early intervention for subthreshold panic disorder: Healthcare versus societal perspective," PLOS ONE, Public Library of Science, vol. 13(11), pages 1-13, November.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Jill Bindels & Bram Ramaekers & Isaac Ramos & Leyla Mohseninejad & Saskia Knies & Janneke Grutters & Maarten Postma & Maiwenn Al & Talitha Feenstra & Manuela Joore, 2016. "Use of Value of Information in Healthcare Decision Making: Exploring Multiple Perspectives," PharmacoEconomics, Springer, vol. 34(3), pages 315-322, March.
    2. Andrija S Grustam & Nasuh Buyukkaramikli & Ron Koymans & Hubertus J M Vrijhoef & Johan L Severens, 2019. "Value of information analysis in telehealth for chronic heart failure management," PLOS ONE, Public Library of Science, vol. 14(6), pages 1-23, June.
    3. Hester V Eeren & Saskia J Schawo & Ron H J Scholte & Jan J V Busschbach & Leona Hakkaart, 2015. "Value of Information Analysis Applied to the Economic Evaluation of Interventions Aimed at Reducing Juvenile Delinquency: An Illustration," PLOS ONE, Public Library of Science, vol. 10(7), pages 1-15, July.
    4. Zhiyuan Wang & Zhiqiang (Eric) Zheng & Wei Jiang & Shaojie Tang, 2021. "Blockchain‐Enabled Data Sharing in Supply Chains: Model, Operationalization, and Tutorial," Production and Operations Management, Production and Operations Management Society, vol. 30(7), pages 1965-1985, July.
    5. Bogumił Kamiński & Michał Jakubczyk & Przemysław Szufel, 2018. "A framework for sensitivity analysis of decision trees," Central European Journal of Operations Research, Springer;Slovak Society for Operations Research;Hungarian Operational Research Society;Czech Society for Operations Research;Österr. Gesellschaft für Operations Research (ÖGOR);Slovenian Society Informatika - Section for Operational Research;Croatian Operational Research Society, vol. 26(1), pages 135-159, March.
    6. Nicholas Graves & Adrian G Barnett & Kate A Halton & Jacob L Veerman & Elisabeth Winkler & Neville Owen & Marina M Reeves & Alison Marshall & Elizabeth Eakin, 2009. "Cost-Effectiveness of a Telephone-Delivered Intervention for Physical Activity and Diet," PLOS ONE, Public Library of Science, vol. 4(9), pages 1-8, September.
    7. Kobelt, G., 2013. "Health Economics: An Introduction to Economic Evaluation," Monographs, Office of Health Economics, number 000004.
    8. Stefano Conti & Karl Claxton, 2009. "Dimensions of Design Space: A Decision-Theoretic Approach to Optimal Research Design," Medical Decision Making, , vol. 29(6), pages 643-660, November.
    9. Ian Wadsworth & Lisa V. Hampson & Thomas Jaki & Graeme J. Sills & Anthony G. Marson & Richard Appleton, 2020. "A quantitative framework to inform extrapolation decisions in children," Journal of the Royal Statistical Society Series A, Royal Statistical Society, vol. 183(2), pages 515-534, February.
    10. A C Bouman & A J ten Cate-Hoek & B L T Ramaekers & M A Joore, 2015. "Sample Size Estimation for Non-Inferiority Trials: Frequentist Approach versus Decision Theory Approach," PLOS ONE, Public Library of Science, vol. 10(6), pages 1-14, June.
    11. Robbin H Ophuis & Joran Lokkerbol & Juanita A Haagsma & Mickaël Hiligsmann & Silvia M A A Evers & Suzanne Polinder, 2018. "Value of information analysis of an early intervention for subthreshold panic disorder: Healthcare versus societal perspective," PLOS ONE, Public Library of Science, vol. 13(11), pages 1-13, November.
    12. Hans Olav Vogt Myklebust & Jo Eidsvik & Iver Bakken Sperstad & Debarun Bhattacharjya, 2020. "Value of Information Analysis for Complex Simulator Models: Application to Wind Farm Maintenance," Decision Analysis, INFORMS, vol. 17(2), pages 134-153, June.
    13. Torbjørn Wisløff & Gunhild Hagen & Marianne Klemp, 2014. "Economic Evaluation of Warfarin, Dabigatran, Rivaroxaban, and Apixaban for Stroke Prevention in Atrial Fibrillation," PharmacoEconomics, Springer, vol. 32(6), pages 601-612, June.
    14. Ilias Goranitis & Pelham Barton & Lee J Middleton & Jonathan J Deeks & Jane P Daniels & Pallavi Latthe & Arri Coomarasamy & Suneetha Rachaneni & Shanteela McCooty & Tina S Verghese & Tracy E Roberts, 2016. "Testing and Treating Women after Unsuccessful Conservative Treatments for Overactive Bladder or Mixed Urinary Incontinence: A Model-Based Economic Evaluation Based on the BUS Study," PLOS ONE, Public Library of Science, vol. 11(8), pages 1-18, August.
    15. Ifigeneia Mavranezouli & Joran Lokkerbol, 2017. "A Systematic Review and Critical Appraisal of Economic Evaluations of Pharmacological Interventions for People with Bipolar Disorder," PharmacoEconomics, Springer, vol. 35(3), pages 271-296, March.
    16. Erik J. Dasbach & Elamin H. Elbasha, 2017. "Verification of Decision-Analytic Models for Health Economic Evaluations: An Overview," PharmacoEconomics, Springer, vol. 35(7), pages 673-683, July.
    17. Douwe Postmus & Tommi Tervonen & Gert Valkenhoef & Hans Hillege & Erik Buskens, 2014. "A multi-criteria decision analysis perspective on the health economic evaluation of medical interventions," The European Journal of Health Economics, Springer;Deutsche Gesellschaft für Gesundheitsökonomie (DGGÖ), vol. 15(7), pages 709-716, September.
    18. Torbjørn Wisløff & Richard White & Olav Dalgard & Ellen J. Amundsen & Hinta Meijerink & Astrid Louise Løvlie & Hilde Kløvstad, 2018. "Economic Evaluation of Direct-Acting Antivirals for Hepatitis C in Norway," PharmacoEconomics, Springer, vol. 36(5), pages 591-601, May.
    19. Michał Jakubczyk & Bogumił Kamiński, 2017. "Fuzzy approach to decision analysis with multiple criteria and uncertainty in health technology assessment," Annals of Operations Research, Springer, vol. 251(1), pages 301-324, April.
    20. Vincenzo Varriale & Antonello Cammarano & Francesca Michelino & Mauro Caputo, 2021. "Sustainable Supply Chains with Blockchain, IoT and RFID: A Simulation on Order Management," Sustainability, MDPI, vol. 13(11), pages 1-23, June.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:spr:pharme:v:34:y:2016:i:3:d:10.1007_s40273-015-0346-z. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.