Value of Information: An Innovative Approach to Prioritizing Comparative Effectiveness Research

Slide presentation from the AHRQ 2010 conference.

On September 29, 2010, Ava John-Baptiste made this presentation at the 2010 Annual Conference. Select to access the PowerPoint® presentation (750 KB). Free PowerPoint® Viewer (Plugin Software Help).


Slide 1

Slide 1. Value of Information: An Innovative Approach to Prioritizing Comparative Effectiveness Research

Value of Information: An innovative approach to prioritizing comparative effectiveness research

AHRQ Annual Meeting
September 29, 2010

Slide 2

Slide 2. Organizers and Presenters

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

Slide 3

Slide 3. Session Overview  

Session Overview

The promise and challenge of using value of information to inform comparative effectiveness research prioritiesAva John-Baptiste, PhD
Value of Information Analysis to Inform Priorities for Health Research: Moving from Theory to PracticeDavid O. Meltzer, MD, PhD
Using Value of Information to Prioritize Future Research: A Case StudyGillian Sanders, PhD

Slide 4

Slide 4. Session Goals

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.

Slide 5

Slide 5. Research

Research

  • Can improve health care decision making
    • ... at a cost

Slide 6

Slide 6. Prioritizing Research

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

Slide 7

Slide 7. How can research funding organizations systematically target investments in research where the impact of reducing the uncertainties in decisions will have the greatest benefits?

How can research funding organizations systematically target investments in research where the impact of reducing the uncertainties in decisions will have the greatest benefits?

Slide 8

Slide 8. Topic

Topic

  • For diabetic patients, what is the effectiveness of between visit patient outreach compared to standard patient care on adherence to therapy?

Slide 9

Slide 9. Topic

Topic

  • What is the comparative effectiveness of typical and atypical antipsychotics for schizophrenia, bipolar disorder and other disorders?

Slide 10

Slide 10. Topic

Topic

  • What is the comparative effectiveness of percutaneous coronary interventions and coronary artery bypass grafting for coronary artery disease?

Slide 11

Slide 11. AHRQ Priority Setting Criteria

AHRQ Priority Setting Criteria

  • Appropriateness
  • Importance:
    • Disease burden
    • Cost
    • Stakeholder support
    • Uncertainty/controversy
  • Desirability of new research
  • Feasibility
  • Potential value

Slide 12

Slide 12. Value of Information

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.

Slide 13

Slide 13. Value of Information

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

Slide 14

Slide 14. VOI Components

VOI Components

  1. Decision with two or more options.
  2. A model relating the expected value of each option to uncertain parameters.
  3. A method of calculation.

Slide 15

Slide 15. Expected Value

Expected Value

Model
Parameters + Uncertainty leads to: Value of Information = Wrong Decision x Expected Value Wrong Decision
 

Slide 16

Slide 16. Opportunities

Opportunities

  • Encourages structured decision making
  • Potential to increase transparency
  • Can quantify research benefits relative to:
    • Potential to reduce uncertainty
    • Impact on decision making
    • Cost

Slide 17

Slide 17. Challenges

Challenges

  • Complex models are resource intensive.
  • Simple models may exclude important elements of expected value.
  • Estimating uncertainty can be difficult.

Slide 18

Slide 18. Questions? Comments?

Questions?

Comments?

Current as of December 2010
Internet Citation: Value of Information: An Innovative Approach to Prioritizing Comparative Effectiveness Research. December 2010. Agency for Healthcare Research and Quality, Rockville, MD. http://www.ahrq.gov/news/events/conference/2010/johnbaptiste/index.html