Fenwick, E., Steuten, L., Knies, S. et al. (7 more authors) (2020) Value of information analysis for research decisions — an introduction : report 1 of the ISPOR value of information analysis emerging good practices task force. Value in Health, 23 (2). pp. 139-150. ISSN 1098-3015
Abstract
Healthcare resource allocation decisions made under conditions of uncertainty may turn out to be suboptimal. In a resource constrained system in which there is a fixed budget, these suboptimal decisions will result in health loss. Consequently, there may be value in reducing uncertainty, through the collection of new evidence, to make better resource allocation decisions. This value can be quantified using a value of information (VOI) analysis. This report, from the ISPOR VOI Task Force, introduces VOI analysis, defines key concepts and terminology, and outlines the role of VOI for supporting decision making, including the steps involved in undertaking and interpreting VOI analyses. The report is specifically aimed at those tasked with making decisions about the adoption of healthcare or the funding of healthcare research. The report provides a number of recommendations for good practice when planning, undertaking, or reviewing the results of VOI analyses.
Metadata
Item Type: | Article |
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Authors/Creators: |
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Copyright, Publisher and Additional Information: | © 2020 ISPOR-The Professional Society for Health Economics and Outcomes Research. This is an author produced version of a paper subsequently published in Value in Health. Uploaded in accordance with the publisher's self-archiving policy. Article available under the terms of the CC-BY-NC-ND licence (https://creativecommons.org/licenses/by-nc-nd/4.0/). |
Keywords: | decision making; expected net benefit of sampling; expected value of information; expected value of perfect information; value of information; value of research |
Dates: |
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Institution: | The University of Sheffield |
Academic Units: | The University of Sheffield > Faculty of Medicine, Dentistry and Health (Sheffield) > School of Health and Related Research (Sheffield) > ScHARR - Sheffield Centre for Health and Related Research |
Depositing User: | Symplectic Sheffield |
Date Deposited: | 04 Mar 2020 09:24 |
Last Modified: | 26 Feb 2021 01:38 |
Status: | Published |
Publisher: | Elsevier |
Refereed: | Yes |
Identification Number: | 10.1016/j.jval.2020.01.001 |
Open Archives Initiative ID (OAI ID): | oai:eprints.whiterose.ac.uk:158024 |
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Filename: ISPOR_TF_Report_1_-_final_submitted.pdf
Licence: CC-BY-NC-ND 4.0