Alexandria, VA – September 20, 2023 – The Innovation and Value Initiative (IVI), a non-profit research organization committed to advancing the science, practice, and use of health technology assessment (HTA) in healthcare, today announced the top three winners of the Valuing Innovation Project (VIP) Call for Papers.
The goal of the Call for Papers was to advance the dialogue, identify gaps in current approaches to HTA, and build consensus on practical methods to better measure and reward innovation. Submissions were encouraged from interested individuals or teams from for-profit and nonprofit institutions worldwide, including young researchers, professionals, and individuals from under-represented communities in research.
“We are excited to announce the winners of the Valuing Innovation Project Call for Papers,” said Rick Chapman, Chief Research Scientist at IVI. “These papers represent cutting-edge thinking on how to better measure and reward innovation in health care. We believe that these papers will make a significant contribution to the field of health technology assessment and help to improve the decision-making process for healthcare stakeholders.”
The top three papers were selected by a panel of independent judges with expertise in health technology assessment, innovation, and value.
The winning papers are:
- Incorporating Real Option Value in Valuing Innovation: A Way Forward by Meng Li, ScM, PhD, and Louis P. Garrison, PhD. This paper proposes a new approach to valuing innovation that incorporates real option value. Real option value is the value of the flexibility to make decisions about an investment in the future, based on new information that becomes available. The authors argue that this approach can better capture the value of innovative products and services that have the potential to improve health outcomes and reduce costs.
- The Value of Flexible Vaccine Manufacturing Capacity: Value Drivers, Estimation Methods, and Approaches to Value Recognition in Health Technology Assessment by Fred McElwee, MSc, MA, and Anthony T. Newall, PhD. This paper examines the value of flexible vaccine manufacturing capacity, which is the ability to rapidly produce vaccines in response to emerging threats. The authors identify the key value drivers of flexible vaccine manufacturing capacity, develop methods for estimating its value, and discuss how value can be recognized in HTA.
- Estimating and Rewarding the Value of Healthcare Interventions Beyond the Healthcare Sector: A conceptual framework by Askal Ayalew Ali, Amit Kulkarni, Sandipan Bhattacharjee, and Vakaramoko Diaby. This paper develops a conceptual framework for estimating and rewarding the value of healthcare interventions beyond the healthcare sector. The authors argue that healthcare interventions can have a positive impact on a wide range of outcomes, including economic, social, and environmental outcomes. They propose a framework for capturing the value of these broader outcomes in HTA.
The winning papers will be awarded monetary prizes and invited to present during the IVI 2023 Annual Meeting. The first prize winner will receive $25,000, second prize winner, $15,000, and third prize winner $10,000.
Full papers will be published in the journal PharmacoEconomics.
The Innovation and Value Initiative (IVI) is a 501(c)(3) tax-exempt, non-profit research organization dedicated to advancing the science and improving the practice of health technology assessment through development of novel methods and the creation and application of enhanced health technology assessment models to support local decision-making needs in healthcare.
Contact: Smita Sanwardeker
E-Mail: [email protected]