Value Assessment Awards: Improving Patient Outcomes and Reducing Inefficiency

Concern over rising health care costs has increased interest in promoting high-quality care, while avoiding low value or inefficient care. As the U.S. health care system encourages value-driven decision-making, it is important that information on value of health care interventions be robust, transparent and address the needs of all health care stakeholders, including patients, payers and providers.

A number of initiatives aiming to drive value in health care have emerged in recent years, but few offer transformative solutions that reflect patient preferences and real-world clinical practice. In addition, many issues in methodology and patient engagement remain unresolved.

To address these factors and encourage patient-centered, value-driven care, the PhRMA Foundation’s Value Assessment Initiative (VAI) offers special research awards — with total funding of more than $2.8 million to date.

This major initiative is seeking transformative, multi-stakeholder-driven solutions to address challenges in assessing the value of medicines and health care services to improve patient outcomes and reduce inefficiency.

The initiative offers Research Awards and Challenge Awards to advance innovation in value assessment. In addition, the Foundation is supporting the work of four Centers of Excellence in value assessment.

If you would like to learn more about the process of applying for a Research Award or Challenge Award, please click on the designated green boxes below.