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PCORI Update: Lenore Arab , PhD, MS Value of Information: Starting the Discussion Doug Bell, MD, PhD. 12/04/2012. The Rapid Response Team: Who We Are. Director, Dr. Lenore Arab Project Coordinator, Robin Faria Study Coordinator, Erica Sasman. Outline. PCORI Evolving Structure
Director, Dr. Lenore Arab
Project Coordinator, Robin Faria
Study Coordinator, Erica Sasman
PCORI Evolving Structure
PCORI Status of Current Applications
Currently Open RFAs: January & February 2013 LoIs
Future PCORI Disease Priority Areas
Value of Information Analyses- why you should care, and what it might entail
Specific Questions of Interest
Development of methods for patient centeredness
Research in methods to conduct systematic reviews of patient-centered comparative effectiveness research.
Development of methods for generating, selecting, and prioritizing topics for research and for including patients and stakeholders in the peer‐review process.
Development and refinement of general analytic methods.
Development and refinement of design‐specific analytic methods.
Specific Questions of Interest, Continued
6. Research that determines the validity and efficiency of data sources commonly used in PCOR.
7. Research related to Patient-Centered Outcomes (PCOs) and Patient-Reported Outcomes (PROs).
8. Research in methods to enhance the reproducibility, transparency, and replication of PCOR research.
9. Research that evaluates and compares strategies for training researchers, patients, and other stakeholders in the methods of patient‐centered outcomes research.
Douglas Bell, MD, PhD
An approach to research prioritization which uses Bayesian methods to estimate the potential benefits of gathering further information (through more research) before making a decision (Meyers, et al., 2012)
A tool of the decision sciences, estimates the potential economic losses associated [with] choosing suboptimal policies when that decision is made with uncertain information (Rhein, 2012)
A decision analytic technique that explicitly evaluates the benefit of collecting additional information to reduce or eliminate uncertainty.(Yokota and Thompson, 2004)
“minimal modeling appears to be most useful when an intervention affects quality of life alone” 3
Difference between the expected value given perfect information and the value given current information
i.e. the upper bound of the opportunity cost of making a wrong decision; any effort to improve the quality of available data that costs less than the EVPI is worth pursuing
EVPI is calculated as the expected value of a decision made with perfect information minus the expected value of a decision made with the existing information:
EVPI = EmaxjNB(j,) - maxjE NB(j,)
Go/no go measurement to determine if additional research is appropriate
Comparison for cost effectiveness of research across different interventions
The value of being able to know the outcome of another related uncertainty instead of the original value itself before making adecision. It is quantified as the highest price the decision-maker is willing to pay for being able to know the uncertainty before making a decision. Note that it is essentially the value of perfect information on the second variable.
Justify additional research in advance of adapting specific interventions
Identifying which areas contribute the most to uncertainty
Patient-Centered Outcomes Research Institute Board of Governors Meeting, www.pcori.org, 2012.
Minimal Modeling Approaches to Value of Information Analysis for Health Research, Metlzer, et al. www.ahrq.gov, 2011.
Systematizing the Use of Value of Information Analysis in Prioritizing Systematic Reviews. Hoomans, et al. www.ahrq.gov, 2012.
Value of Information and Research Prioritization. Rein. NORC at the U of Chicago, 2012.
Value of Information Literature Analysis: A Review of Applications in Health Risk Management. Yokota and Thompson, MDM, 2004.
Value of Information on Preference Heterogeneity and Individualized Care, Basu and Meltzer, MDM, 2007.
Value-of-Information Analysis for Patient-Centered Outcomes Research Prioritization, Myers et al., www.pcori.org, 2012.