Measuring Value

Some health care stakeholders have developed frameworks as a way to measure value. Value assessment frameworks are a relatively new and emerging field. Yet, without other ways to clearly measure health care value, these value frameworks will likely be influential in determining what therapies are chosen by patients and their doctors, as well as if those therapies will be covered and reimbursed and made more broadly available to patients. As these frameworks have the potential for considerable impact on patients, there is a need to understand whether these frameworks have been developed with adequate rigor. By comparing and contrasting these frameworks, we can lay the groundwork for a dialogue about what elements should be included in a value framework, how those elements should be measured, and how a value assessment should be conducted and utilized.

The National Pharmaceutical Council outlined challenges in measuring value in comments submitted to the Institute for Clinical and Economic Review (ICER), which is one of several groups developing frameworks, as well as in our Guiding Practices for Patient-Centered Value Assessment.