The PhRMA Foundation has much to share, particularly about our Value Assessment Initiative, which continues to grow and is moving in exciting new directions as we seek a more value-based decision-making environment for patient care.
Our partners at our four Value Assessment Centers of Excellence shared highlights of their work at the recent national conference of the International Society for Pharmacoeconomics and Outcomes Research (ISPOR). Helped by $2 million in funding from the Foundation, they are pursuing new innovations that will benefit biopharmaceutical research and development tremendously.
Our value assessment work was the topic of a recent commentary I wrote for the Value & Outcomes Spotlight, an ISPOR publication, including a discussion of a key challenge in value-assessment: How do we find alternatives to commonly used metrics such as Quality Adjusted Life Years (QALYs)? In a rapidly changing health care environment, we need new approaches to value-metrics – and our Centers of Excellence are focusing intently on this question.
We recently announced the winners of our 2019 Value Assessment Challenge Awards. Designed to encourage innovative approaches in defining and measuring value in health care, this year’s awards focused on novel proposals to improve value assessment methods that move beyond the quality-adjusted life year (QALY).
Our new Research Awards in Value Assessment have been announced, and we are hard at work organizing a Value Assessment conference, to be held Nov. 12 in Washington, D.C. The conference will inform stakeholders about useful tools and findings PhRMA Foundation grant recipients are developing to overcome shortcomings of current approaches to value assessment.
There will be much more to share in months to come, including our launch of a new Foundation blog and improvements to our website that will make it easier for you to learn the latest advances in value assessment research.
Other recent Foundation highlights include:
Our Annual Report, which offers comprehensive information about the scientists and projects we have funded over the last year, as well as information more information about our Value Assessment efforts.
A list of all of our most recent award recipients.
Since the Foundation began its work, we have invested nearly $95 million in advancing the innovations and discoveries of the nation’s most talented researchers.
Today this effort is more important than ever – and we are excited to be exploring new directions that are certain to bring new hope to patients and their families.
As always, we are grateful to our alumni for their inspiring work, and to our contributing members for their financial support.