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

Jill Bindels (), Bram Ramaekers, Isaac Corro Ramos, Leyla Mohseninejad, Saskia Knies, Janneke Grutters, Maarten Postma, Maiwenn Al, Talitha Feenstra and Manuela Joore
Additional contact information
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
Maiwenn Al: Erasmus University Rotterdam
Talitha Feenstra: University of Groningen
Manuela Joore: Maastricht University Medical Centre

PharmacoEconomics, 2016, vol. 34, issue 3, No 10, 315-322

Abstract: 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.

Date: 2016
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
http://link.springer.com/10.1007/s40273-015-0346-z Abstract (text/html)
Access to the full text of the articles in this series is restricted.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:spr:pharme:v:34:y:2016:i:3:d:10.1007_s40273-015-0346-z

Ordering information: This journal article can be ordered from
http://www.springer.com/economics/journal/40273

DOI: 10.1007/s40273-015-0346-z

Access Statistics for this article

PharmacoEconomics is currently edited by Timothy Wrightson and Christopher I. Carswell

More articles in PharmacoEconomics from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().