Measuring stakeholder preferences
While health insurers typically focus on the available clinical evidence, projected budget impact and cost effectiveness of a treatment, there is increasing interest in understanding how treatments meet individual patient’s needs. Which treatment attributes patients value has not traditionally been factored into payer formulary or reimbursement decision-making in a systematic or consistent manner, meaning that payers may fail to incorporate the broader benefits of certain treatment options in their assessments.
Further complicating decision-making may be a misalignment of values between patients and physicians. If, for example, physicians assume that patients value clinical efficacy above all other attributes of a therapy, but in reality patients may place greater value on avoiding side effects to maintain quality of life, patients may ultimately not receive the therapy best aligned with their individual priorities. The potential for discordance between physician decisions and patient preference may lead to suboptimal treatment choices and poorer outcomes.
PHE conducts studies to evaluate the unique components of value that patients and clinicians place on healthcare interventions. These studies have significant clinical and commercial implications in an increasingly patient-centered marketplace, since they reveal which interventions and treatment attributes are most important among real-world patients and clinicians.
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