1-DAY WORKSHOP: Value of Information methods to inform the prioritisation and design of new research studies
DATE: 4th July 2013
VENUE: MRC ConDuCT Hub for Trials Methodology Research, School of Social &
Community Medicine, Canynge Hall, University of Bristol, Bristol. BS8 2PS
WORKSHOP STAFF: Dr. Nicky J. Welton (Bristol), Prof. AE Ades (Bristol), Dr. Marta O. Soares (York)
INTENDED FOR: Research commissioners, policy-makers, clinicians, trialists, statisticians, and health economists
FULL DETAILS: http://www.methodologyhubs.mrc.ac.uk/pdf/VOI%20Workshop.pdf
OVERVIEW: The results from new research studies (e.g. RCTs) will inform policy decisions
about which treatments are used in the NHS, as inputs to cost-effectiveness analyses (CEA) appraised by the National Institute for Health and Clinical Excellence (NICE). These CEAs, combine evidence from syntheses of RCT information on treatment efficacy, information on natural history, additional lifetime costs, and quality-adjusted life years gained. The decision to adopt a new product, or not, is based on a determination of its net benefit (monetarised health gain less costs). At present there is a gap between the way decisions are made about whether to adopt new treatments for use in the NHS, and the way funding decisions are made about whether more research is needed on these treatments to better inform adoption decisions. As a result, resources may be wasted researching treatments that were never likely to be cost-effective, or conversely by adopting treatments which, if more evidence were collected, would not be cost-effective. It is possible to calculate the probability that a decision to adopt a treatment on the basis of current evidence would turn out to be the wrong decision if more evidence was collected, and how much resource waste and loss of quality of life this is likely to represent. Value of Information (VOI) analyses provide an objective method for informing the decision of which studies to fund, and how best to design those studies. The aim of this workshop is to give an introduction to the
concepts behind the methods, and illustrate the methods with recent case studies.
PRE-REQUISITES: There are no pre-requisites. However, to obtain the most from the
workshop, applicants will benefit from a basic understanding of meta-analysis and cost-effectiveness analysis.
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