IDEAS home Printed from https://ideas.repec.org/a/sae/medema/v38y2018i7p888-900.html
   My bibliography  Save this article

Value of Information Choices that Influence Estimates: A Systematic Review of Prevailing Considerations

Author

Listed:
  • Hendrik Koffijberg
  • Claire Rothery
  • Kalipso Chalkidou
  • Janneke Grutters

Abstract

Background . Although value of information (VOI) analyses are increasingly advocated and used for research prioritization and reimbursement decisions, the interpretation and usefulness of VOI outcomes depend critically on the underlying choices and assumptions used in the analysis. In this article, we present a structured overview of all items reported in literature to potentially influence VOI outcomes. Use of this overview increases awareness and transparency of choices and assumptions underpinning VOI outcomes. Methods . A systematic literature review was performed to identify aspects of VOI analyses that were found to potentially influence VOI outcomes. Identified aspects were grouped to develop a structured overview. Explanations were defined for all items included in the overview. Results . We retrieved 687 unique papers, of which 71 original papers and 8 reviews were included. In the full text of these 79 papers, 16 aspects were found that may influence VOI outcomes. These aspects related to the underlying evidence (bias, synthesis, heterogeneity, correlation), uncertainty (structural, future pricing), model (relevance, approach, population), choices in VOI calculation (estimation technique, implementation level, population size, perspective), and aspects specifically for assessing the value of future study designs (reversal costs, efficient estimator). These aspects were aggregated into 7 items to provide a structured overview. Conclusion . The developed overview should increase awareness of key choices underlying VOI analysis and facilitate structured reporting of such choices and interpretation of the ensuing VOI outcomes by researchers and policy makers. Use of this overview should improve prioritization and reimbursement decisions.

Suggested Citation

  • Hendrik Koffijberg & Claire Rothery & Kalipso Chalkidou & Janneke Grutters, 2018. "Value of Information Choices that Influence Estimates: A Systematic Review of Prevailing Considerations," Medical Decision Making, , vol. 38(7), pages 888-900, October.
    • Handle: RePEc:sae:medema:v:38:y:2018:i:7:p:888-900
    DOI: 10.1177/0272989X18797948
    as

    Download full text from publisher

    File URL: https://journals.sagepub.com/doi/10.1177/0272989X18797948
    Download Restriction: no
    File URL: https://libkey.io/10.1177/0272989X18797948?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
    ---><---

    References listed on IDEAS

    as
    1. Alan Brennan & Samer A. Kharroubi, 2007. "Expected value of sample information for Weibull survival data," Health Economics, John Wiley & Sons, Ltd., vol. 16(11), pages 1205-1225, November.
    2. Simon Eckermann & Andrew R. Willan, 2009. "Globally optimal trial design for local decision making," Health Economics, John Wiley & Sons, Ltd., vol. 18(2), pages 203-216, February.
    3. Don Husereau & Michael Drummond & Stavros Petrou & Chris Carswell & David Moher & Dan Greenberg & Federico Augustovski & Andrew Briggs & Josephine Mauskopf & Elizabeth Loder, 2013. "Consolidated Health Economic Evaluation Reporting Standards (CHEERS) Statement," PharmacoEconomics, Springer, vol. 31(5), pages 361-367, May.
    4. Alan Brennan & Samer A. Kharroubi, 2007. "Expected value of sample information for Weibull survival data," Health Economics, John Wiley & Sons, Ltd., vol. 16(11), pages 1205-1225.
    5. Nicky Welton & A. E. Ades, 2012. "Research Decisions In The Face Of Heterogeneity: What Can A New Study Tell Us?," Health Economics, John Wiley & Sons, Ltd., vol. 21(10), pages 1196-1200, October.
    6. Simon Eckermann & Andrew R. Willan, 2007. "Expected value of information and decision making in HTA," Health Economics, John Wiley & Sons, Ltd., vol. 16(2), pages 195-209, February.
    7. Anna Heath & Ioanna Manolopoulou & Gianluca Baio, 2017. "A Review of Methods for Analysis of the Expected Value of Information," Medical Decision Making, , vol. 37(7), pages 747-758, October.
    8. 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)

    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. 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. Andrew Willan & Simon Eckermann, 2012. "Value of Information and Pricing New Healthcare Interventions," PharmacoEconomics, Springer, vol. 30(6), pages 447-459, June.
    3. Claire McKenna & Karl Claxton, 2011. "Addressing Adoption and Research Design Decisions Simultaneously," Medical Decision Making, , vol. 31(6), pages 853-865, November.
    4. Nicolas A. Menzies, 2016. "An Efficient Estimator for the Expected Value of Sample Information," Medical Decision Making, , vol. 36(3), pages 308-320, April.
    5. Hawre Jalal & Jeremy D. Goldhaber-Fiebert & Karen M. Kuntz, 2015. "Computing Expected Value of Partial Sample Information from Probabilistic Sensitivity Analysis Using Linear Regression Metamodeling," Medical Decision Making, , vol. 35(5), pages 584-595, July.
    6. Hawre Jalal & Fernando Alarid-Escudero, 2018. "A Gaussian Approximation Approach for Value of Information Analysis," Medical Decision Making, , vol. 38(2), pages 174-188, February.
    7. 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.
    8. Oakley, Jeremy E. & Brennan, Alan & Tappenden, Paul & Chilcott, Jim, 2010. "Simulation sample sizes for Monte Carlo partial EVPI calculations," Journal of Health Economics, Elsevier, vol. 29(3), pages 468-477, May.
    9. 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.
    10. Andrew R. Willan & Simon Eckermann, 2010. "Optimal clinical trial design using value of information methods with imperfect implementation," Health Economics, John Wiley & Sons, Ltd., vol. 19(5), pages 549-561, May.
    11. Simon Eckermann & Andrew Willan, 2011. "Presenting Evidence and Summary Measures to Best Inform Societal Decisions When Comparing Multiple Strategies," PharmacoEconomics, Springer, vol. 29(7), pages 563-577, July.
    12. 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.
    13. Anna Heath & Ioanna Manolopoulou & Gianluca Baio, 2018. "Efficient Monte Carlo Estimation of the Expected Value of Sample Information Using Moment Matching," Medical Decision Making, , vol. 38(2), pages 163-173, February.
    14. Anna Heath & Ioanna Manolopoulou & Gianluca Baio, 2019. "Estimating the Expected Value of Sample Information across Different Sample Sizes Using Moment Matching and Nonlinear Regression," Medical Decision Making, , vol. 39(4), pages 347-359, May.
    15. Andrew R. Willan & Simon Eckermann, 2012. "Accounting For Between‐Study Variation In Incremental Net Benefit In Value Of Information Methodology," Health Economics, John Wiley & Sons, Ltd., vol. 21(10), pages 1183-1195, October.
    16. Strand,Jon & Siddiqui,Sauleh, 2015. "Value of improved information about forest protection values, with application to rainforest valuation," Policy Research Working Paper Series 7423, The World Bank.
    17. Lou Garrison;Ruth Puig-Peiro;Adrian Towse, 2012. "The Use of Pay-for-Performance for Drugs: Can It Improve Incentives for Innovation?," Occasional Paper 000167, Office of Health Economics.
    18. Andrew Willan, 2011. "Sample Size Determination for Cost-Effectiveness Trials," PharmacoEconomics, Springer, vol. 29(11), pages 933-949, November.
    19. Giovanna Elisa Calabrò & Sara Boccalini & Donatella Panatto & Caterina Rizzo & Maria Luisa Di Pietro & Fasika Molla Abreha & Marco Ajelli & Daniela Amicizia & Angela Bechini & Irene Giacchetta & Piero, 2022. "The New Quadrivalent Adjuvanted Influenza Vaccine for the Italian Elderly: A Health Technology Assessment," IJERPH, MDPI, vol. 19(7), pages 1-14, March.
    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.

    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:sae:medema:v:38:y:2018:i:7:p:888-900. 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: SAGE Publications (email available below). General contact details of provider: .

    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.