Value assessment in health care comprises a broad set of methods to synthesize and evaluate the relative benefits and costs of health care interventions. The goal of value assessment is to assist stakeholders, including patients, providers and payers, in making informed decisions to improve health and care efficiency. These assessments are conducted using varied methodological approaches to synthesize data from various sources to guide individual or population-level decisions. For greatest impact, these methods should offer opportunities to incorporate patient characteristics and their preferences to guide treatment decisions.
However, there are a number of limitations of the data sources, methodologies and measures applied in value assessment. Additionally, existing data sources do not allow for complete capture of patient-level information or preferred outcomes.
The PhRMA Foundation seeks proposals to identify and address challenges in research conducted to assess the value of medicines and health care services. Example topics may include, but are not limited to:
- Measurement and reporting of value elements
- Frameworks for value assessment
- Selection and reporting of study populations
- Collection and measurement of patient-centered outcomes
- Heterogeneity of patient preferences
- Value element aggregation techniques
- Uncertainty in model parameters or structures
- Incorporation of real-world data
- Value from different stakeholder perspectives
- Ethical considerations
- Development of decision tools
The PhRMA Foundation seeks 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.
Award opportunities are open to all individuals and organizations with training in health economics, outcomes research, clinical sciences or health care evaluation. Eligible applicants should hold an advanced degree in a field of study logically or functionally related to the proposed activities, such as a Ph.D. or equivalent. Interdisciplinary collaboration is highly encouraged.
At least one collaborator must also have a firm commitment from an accredited U.S. university or research organization, and at least one collaborator must be a U.S. citizen or permanent resident by the time of initiation of this award.
Awards will be available of varying levels up to $100,000 for a one-year period. Level of funding will depend on the scope of proposed activities. Candidates should consult the Foundation for guidance or questions. A maximum of 20 percent of the award may be used for indirect institutional costs.
Candidates should submit letters of intent (LOIs) by clicking on this link:
no later than May 1, 2017, to initiate the grant application process. LOIs will be reviewed for potential program fit, novelty, importance, rigor and clarity.
Additional criteria described here.
Letter of Intent Components:
- Descriptive title of proposed paper/ project
- Name, address and telephone number of the contestant(s)
- Names of other key personnel (if applicable)
- Affiliated or participating institutions (if applicable)
- Detailed project description, not to exceed 400 words
- Total estimated budget with justification
Qualified applicants will be notified no later than June 15, 2017, to proceed with preparing a full application. Applications will be due September 1, 2017, and evaluated by a panel of qualified reviewers.
Full Application Components:
- Applicant CV or biosketch
- Applicant cover letter (limited to one page)
- Letter of support from affiliated organization or institution
- Research plan (limited to 3,000 words)
- Final Budget – describe how the funds will be used and include other funding the project (will) receive(s)
- Reprints of relevant articles published by the applicant