Unbiased research that helps ensure the future vitality of the American healthcare system.
Most responsible healthcare providers, payers, and patients would agree that the cost of a medication or medical service should reflect the value it delivers. The question then becomes, “How do you quantify value, particularly when outcomes cannot be easily measured in purely economic terms?”
We believe that definitions of value should reflect the reason why we have a healthcare system in the first place. It is to help people live healthier, happier, fuller lives. The imperative is to fulfill that mission as efficiently and affordably as possible, so as to maximize the efficacy of every dollar spent.
IVI was created to raise the level of discussion around value in healthcare. Our goal is to bring together all participants in the system—academics, patient advocates, payers, pharmaceutical companies, providers, delivery systems, and other organizations—to find common ground in the approach for measuring value. In doing so, we hope to help drive waste out of the system, mitigating the rising costs of healthcare while preserving incentives to develop future generations of medical breakthroughs.
“The right way to think about value in health care delivery is a stream of benefits accrued over a lifetime that is attractive relative to the price paid to acquire them.”
- Amitabh Chandra and Dana Goldman, writing in Harvard Business Review
The Innovation and Value Initiative (IVI) engages a broad coalition of providers, payers, patient advocates, scientists, researchers, and others who are dedicated to preserving innovation and enhancing value across the healthcare system.
IVI works to create common approaches for relevant, rigorous, and transparent value assessments in healthcare by identifying, supporting, and disseminating best practices.
IVI is founded in belief that an informed and dispassionate dialogue around value assessment is essential to the future vitality of the American healthcare system. We hope to fuel that dialogue with timely, non-biased, and well-focused research, evidence, and analysis.
What is the Innovation and Value Initiative (IVI)?
IVI is a collaboration among thought leaders in academia, patient advocacy organizations, payers, pharmaceutical companies, providers, delivery systems and other organizations dedicated to preserving innovation, value, and choice in the healthcare system.
What is the goal of IVI?
IVI works to preserve innovation and enhance value across the healthcare system by creating common approaches for relevant, rigorous, and transparent value assessments in healthcare, identifying, supporting and disseminating best practices. We aim to translate these value assessments into practical solutions that better align prices with value throughout the marketplace.
Why is the IVI needed?
IVI believes that only an informed and dispassionate dialogue around value assessment can ensure the future vitality of the American healthcare system. We hope to fuel that dialogue with timely, non-biased and well-focused research, evidence and analysis.
What are IVI’s key research areas of focus?
IVI’s four key research areas correspond to four necessities of a well-functioning health system:
- The ability to accurately measure treatment value for all stakeholders (Value Measurement)
- The use of pricing and reimbursement strategies tied to treatment value (Healthcare Pricing)
- Tools to determine which treatments are most likely to be high-value for which patient (Technology Assessment)
- A policy environment that facilitates the development of and access to high-value healthcare (Healthcare Policy)
For a detailed description of IVI's core research areas, see the “Research” section.
What influence does IVI have on health policy and the health care system generally?
IVI research and policy proposals are developed by known thought leaders and respected researchers with a goal of leveraging evidence to improve the U.S. health care system. IVI research is then disseminated simultaneously through a variety of high-impact channels: peer-reviewed journals, reports, commentaries, blog posts, working group meetings, policy briefings and other forums.
A diversity of viewpoints from academia, patients, payers, pharmaceutical companies, providers, and delivery systems increases the influence and broad applicability of IVI’s research. IVI leverages leaders from across academia, government and the health care industry that serve on the Panel of Health Advisors to champion our work and bring this research to the attention of the health care system’s leading decision makers.
How is IVI related to organizations like ICER?
Our goal is not to dictate the price of medications, but rather to provide unbiased research and analysis to help improve valuation models in the healthcare marketplace. Our view is that ICER currently emphasizes a short-term budget impact approach based on concepts of affordability. Our research will focus more on the longer term, looking at healthcare spending as an investment in the vitality of the system as well its cost. We uniquely focus on how to reform the healthcare marketplace and better align prices with value.
- What are examples of novel approaches to value assessment that IVI researchers have developed?
How does IVI keep its research transparent and free from bias?
IVI holds itself to the highest research standards by relying on extensive peer review by relevant thought leaders in the field. We have an internal peer-review process conducted by the scientific leadership. Much of the research will also be published in peer-reviewed journals that provide an external mechanism of peer review. The IVI multi-stakeholder Panel of Health Advisors will review final output to make sure the research accounts for all health systems perspectives.
How does IVI decide on the activities it will conduct?
IVI’s Panel of Health Advisors (PHA) determines the topics of interest. PHA is a multi-stakeholder group that reflects the diverse perspectives found across the healthcare industry. The panel meets in person once per year and via teleconference quarterly to create and update the yearly agenda.
Is IVI-disseminated research peer-reviewed?
All IVI research undergoes extensive internal peer review by IVI’s scientific experts. Research papers submitted to peer-reviewed journals also undergo external peer-review, whereas reports and opinion pieces do not.
- Who can I contact to get more information about IVI or to request further details on an IVI project?
Where does IVI get its funding and how does this influence the work conducted by IVI?
Leading up to IVI’s launch in September 2016, funding was provided solely by Precision Medicine Group. Active recruitment of funding members is now underway, with representation being sought from insurers, providers, manufacturers, and patient advocacy groups. Current partners now include AbbVie, Amgen, BIO, BMS, Merck, NPC, Pfizer, and PhRMA, and we look forward to expanding this support across all stakeholder audiences in an effort to enhance value, innovation, and choice across the healthcare system. Funding is provided in support of IVI’s mission and core objectives, but funding does not equate to a voting seat on the Panel of Health Advisors that steers IVI’s research agenda.
For more information on how to get involved in finding solutions to the challenge of achieving high-value care, click here or contact Carolyn Hillegass at 310-984-7757.
- I am interested in joining. collaborating with, or supporting IVI. Who should I contact?