IVI’s OSVP value assessment models have a number of key advantages over these other approaches:
- Rigorous quantitative analysis: Health benefits, risks and costs are quantified explicitly in OSVP models, making comparison of treatment options more straightforward for decision-makers.
- Patient-centricity: One of IVI’s primary goals is to improve the ability of value assessment to quantify and incorporate patient-level determinants of value. IVI partners with patients throughout the development of OSVP models, including qualitative research (e.g. focus groups) to understand patient perspectives on value and partnership with patient advocates. Input from patients helps to identify key determinants of value for patients. OSVP models then incorporate these patient-centered factors to the extent possible. In particular, OSVP models include a multi-criterion decision analysis (MCDA) module for value analysis (in addition to a cost-effectiveness module), which makes it possible to include patient-identified factors and calculate relative value based on patient preferences.
- Transparency: OSVP models are completely transparent. All the underlying code is made available free online along with detailed technical documentation. In addition, the public comment, review, and revision process is transparently reported and publicly available.
- Flexibility: IVI models allow stakeholders to tailor what value means for their particular situation. For instance, employers may care a lot about worker productivity, whereas policymakers may care about broader societal costs and benefits. Whether using one of our flexible online interfaces or an R statistical package, users can add in or remove different value components based on whether they are relevant to their particular decision at hand. Further, stakeholders can customize the value measurement based on the patient population most relevant to them.