2022 Value Assessment Challenge Awards - An Open Opportunity for Researchers Exploring Novel Value Measures and Definitions Skip to main content
As the U.S. health system faces rising costs, it is critical that we reexamine the methodology and frameworks used to assess the value of biopharmaceuticals. Traditional value measures fail to consider outcomes and experiences that matter most to patients and disproportionately focus on measures of benefit squarely aligned with clinical outcomes. Consistent with our history, the PhRMA Foundation is working to advance the field of value assessment research by supporting initiatives that prioritize the patient perspective and health equity. In 2017, the Foundation launched the Value Assessment Initiative seeking to support scientists and institutions discovering new ways to define and measure value in health care. As part of its educational mission as a catalyst of ideas to advance biopharmaceutical innovation, the Foundation hosted a series of value assessment-focused webinars in 2021. These discussions led the Foundation to the create the 2022 Value Assessment Challenge Awards, to help fund ideas around how to advance value assessment with a focus on improving health equity and patient-centricity. Applications for these awards will be accepted through March 1, 2022. Webinar Series Highlights Importance of Patient Perspectives in Value Assessment The first webinar highlighted existing gaps in the current utilization of patient-centered outcomes in value assessments. Senior Scientist at the RAND Corporation and immediate Past President of ISOQOL, Lori Frank, PhD, noted that even “within a disease area, there's a variety of views about what matters and a heterogeneity of experience that needs to be considered. So, aggregating across the right patients is a promising first step.” The second webinar focused on real-world approaches to advancing patient centricity and inclusivity in value assessments from the perspective of patient advocates. Noted then-Vice President of Clinical and Social Research and Development at National Minority Quality Forum (NMQF), LaTasha H. Lee, PhD, MPH, “early, meaningful engagement” between patients and value assessing bodies is critical. “It’s not just the patients sharing their experience but also [the value assessors] sharing their perspectives and goals as a part of this. Oftentimes, the patient community is not aware of the end goal and how that can inform the outcomes of some of these assessments. Education should be a two-way street,” she said. The third webinar discussed the future of value research and included two panel discussions regarding patient-centered outcomes and health equity in value assessments. Panelist Eberechukwu Onukwugha, MS, PhD, Associate Professor of Pharmaceutical Health Services Research at the University of Maryland in Baltimore conveyed her hope for the future of research by saying “we need an army of researchers who are committed to applying the best science to support and improve [these measures] so that we can maximize our impact.” Turning Ideas into Action Throughout the webinar series, scientists and patient advocacy leaders discussed and identified future areas for collaborative and inclusive research in the value assessment field. But while there remain many areas for consideration and innovation about value assessment, the PhRMA Foundation chose to focus on activities that can advance the field today, particularly around health equity and patient-centricity, both areas which have historically been poorly represented in policy conversations regarding value. The PhRMA Foundation looks to address this gap through our 2022 Value Assessment Challenge Awards. The Awards are open to all researchers regardless of tenure. Applications consist of academic papers, intended for publication in a peer-reviewed journal, related to advancing the value conversation through a health equity or patient-centered outcomes lens. The Foundation will provide a total of $160,000 in awards for bold and creative ideas seeking to advance value-assessment methods and processes. To learn more visit the PhRMA Foundation program pages for the Health Equity Challenge Award and the Patient-Centered Outcomes Challenge Award.