The Value Assessment Initiative Research Awards seek to identify challenges in research conducted to assess the value of medicines and health care services.
The 2022 application cycle is closed. Award recipients will be notified December 15, 2021.
KEY DETAILS
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.
The PhRMA Foundation wants to broaden its reach to expand the efforts in this focus area of using new approaches to capture and assess what is important to patients. The Value Assessment Initiative encourages new researchers to apply for funding.
Application Deadline To apply, applicants must submit a letter of intent, due July 15, 2021. Those whose submissions are selected will be notified by August 16, 2021 and asked to complete a full application.
Eligibility Award opportunities are open to all individuals and organizations with specialization in health economics, outcomes research, clinical sciences, health care evaluation or related disciplines. Eligible applicants should hold an advanced degree in a field of study logically or functionally related to the proposed activities, such as a PhD 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.
Researchers and collaborators who have received a Value Assessment award or project funding from the PhRMA Foundation in 2020 or 2021 are not eligible to apply.
Funding Varying levels, up to $100,000, for a one-year period. Level of funding will depend on the scope of proposed activities. A maximum of 20 percent of the award may be used for fringe benefits and/or indirect institutional costs.
Important Please click on topics in blue, above, to learn full details about this award.
ABOUT THE VALUE ASSESSMENT INITIATIVE RESEARCH AWARDS
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. For example, there is increased recognition that commonly used approaches of health fail to address patient-centric elements of value, equity considerations, and heterogeneity. Moreover, new approaches to address uncertainty are needed to address challenges in which data sources do not allow for complete capture of important patient-level information. The PhRMA Foundation seeks proposals to identify and address challenges in research conducted to assess the value (clinical, humanistic, and economic) of medicines and health care services.
Example topics may include, but are not limited to:
- Patient- and equity-centered frameworks for value assessment
- Selection and reporting of diverse study populations
- Collection and measurement of patient-centered outcomes
- Incorporation of patient-centered outcomes in value assessment
- Heterogeneity of patient preferences or outcomes
- Uncertainty in model parameters or structures
- Consider real-world data
- Value from different stakeholder perspectives
- Ethical considerations
- Development of decision tools
- Measurement and reporting of value elements
- Address measures of health equity
LETTER OF INTENT AND APPLICATION CONSIDERATIONS
Evaluating the value of health care interventions is challenging. But, when designed well and used appropriately, tools that quantify the value of a health care treatment can inform decision-making for patients, providers, and payers. There are several criteria to consider in developing solutions to drive high-quality value assessment.
Bold and Novel Approaches Research Awards are designed to push the envelope further on value assessment methods, such as “how value is derived,” “what influences value” and the “who is affected by value assessment.” Research Awards should reflect bold and innovative ideas to improve value assessment methods and related designs.
Stakeholder Engagement A vital step to a successful shift toward a value-driven health care system is ongoing engagement with stakeholders. It is particularly important to incorporate patient perspectives and acknowledging that all individuals are future recipients of health care and are driving factors of high-quality value assessment. Recommendations for patient engagement processes are made available by the National Health Council.i
Real-World Applicability All funded activities should generate resources, evidence or ideas that can be applied feasibly in the U.S. health care system. Variations in practice patterns or disparities in care (e.g., demographics, socioeconomic status, and type of insurance) should also be acknowledged.
Adherence to Best Practices Proposed methodology should follow relevant, well-accepted recommendations, such as those published by the Agency for Health Care Research and Quality, International Society for Pharmacoeconomics and Outcomes Research, National Pharmaceutical Council Guiding Practices for Patient-Centered Value Assessment and Second Panel on Cost-Effectiveness in Health and Medicine.ii
Review and Validation Research activities should be subject to systematic ongoing validation to ensure that accurate, truthful, non-misleading and reproducible findings are generated. Results should not be disseminated until validated through expert review, with input provided by all relevant and qualified stakeholders. The process of review should be well-documented and accompany the dissemination of the results.
Patient-Centered Decision-Making Value assessment tools create opportunities to support patient-centered decision-making, if patients and other stakeholders are able to review and customize value information based on their own preferences. For example, the second panel on cost effectiveness in health and medicine recommends that all potential consequences of care should be presented in a transparent and disaggregated form, such as in an “impact inventory table.”iii Additionally, all criteria should be quantified and included in assessments, if possible.
Addressing Uncertainty Tools or frameworks that assess care value should adequately explain and address all sources of uncertainty (e.g., in parameter selection, decision process, measurement) and conduct and present relevant sensitivity and scenario analysis.
References
i. National Health Council, Patient Engagement. Available at: http://www.nationalhealthcouncil.org/public-policy/patient-engagement
ii. Agency for Health care Research and Quality (AHRQ) Guidance for the Conduct and Reporting of Modeling and Simulation Studies in the Context of Health Technology Assessment. Available at: https://effectivehealthcare.ahrq.gov/products/decision-models-guidance/methods; International Society for Pharmacoeconomics and Outcomes Research Good Practices for Outcomes Research Practices. Available at: https:// https://www.ispor.org/heor-resources/good-practices; National Pharmaceutical Council Guiding Practices for Patient-Centered Value Assessment. Available at: http://www.npcnow.org/guidingpractices; Sanders GD, Neumann PJ, Basu A, et al. Recommendations for Conduct, Methodological Practices, and Reporting of Cost-effectiveness Analyses: Second Panel on Cost-Effectiveness in Health and Medicine. JAMA. 2016;316(10):1093-1103. doi:10.1001/jama.2016.12195.
iii. Sanders GD, Neumann PJ, Basu A, et al. Recommendations for Conduct, Methodological Practices, and Reporting of Cost-effectiveness Analyses: Second Panel on Cost-Effectiveness in Health and Medicine. JAMA. 2016;316(10):1093-1103.doi:10.1001/jama.2016.12195.
- The PhRMA Foundation is committed to driving real change in health care delivery and recognizes the benefit of shared knowledge.
- The PhRMA Foundation wants to broaden its reach to expand the efforts in this focus area of using new approaches to capture and assess what is important to patients.
- The Value Assessment Initiative encourages new researchers to apply for funding.
- The PhRMA Foundation has established a Value Assessment Research Network to encourage collaboration and dissemination of findings borne out of the program.
- All award recipients will become members of the Network and be asked to participate in periodic calls, in-person meetings or presentations.
- Award opportunities are open to all individuals and organizations with specialization in health economics, outcomes research, clinical sciences, health care evaluation or related disciplines.
- Eligible applicants should hold an advanced degree in a field of study logically or functionally related to the proposed activities, such as a PhD 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.
Researchers and collaborators who have received a Value Assessment award or project funding from the PhRMA Foundation in 2020 or 2021 are not eligible to apply.
- 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.
- A maximum of 20 percent of the award may be used for indirect institutional costs and/or fringe benefits.
- Funding may not be used for tuition assistance.
- Candidates should consult the PhRMA Foundation for guidance or questions.
To apply for a PhRMA Foundation Value Assessment Research Award, applicants must submit a letter of intent, due July 15, 2021 @ 11:59 PM EST. Those whose submissions are selected will be notified by August 16, 2021 and asked to complete a full application.
To start a Letter of Intent, go to the proposalCENTRAL website at https://proposalcentral.com/. If you are a new user of proposalCENTRAL, follow the “CREATE ONE NOW” link under “Need an Account?” and complete the registration process. If you are already a registered user, login at https://proposalcentral.com/ with your username and password. If you have forgotten your password, click the “Forgot your Password?” link.
Once you are logged in, please click the “Professional Profile” tab at the top and complete steps 1-10 or update with current information including your CV or biosketch.
To start a Letter of Intent, select the “Grant Opportunities” tab and a list of applications will be displayed. Find “PhRMA Foundation” and click the Apply Now link next to the Research Award in Value Assessment to create your Letter of Intent.
Letter of Intent Process (Step 1)
Your Letter of Intent should include:
- Descriptive title of proposed paper/project
- Applicant’s CV or biosketch
- Name(s) of other key personnel/collaborators and their CV or biosketch (if applicable)
- Name of affiliated or participating institutions (if applicable)
- Detailed project description, not to exceed 600 words (citations may be on a separate page / 12-point font; one-half inch margin)
- Total estimated budget with justification
Those whose submissions are selected will be notified by August 16, 2021 and asked to complete a full application. Full applications are due September 15, 2021 @ 11:59 PM EDT, including letters of support.
Application Process (Step 2)
You will return to proposalCentral to login at https://proposalcentral.com/ with your username and password. If you have forgotten your password, click the “Forgot your Password?” link.
The following items will be required if you are invited to submit a full application.
- You may edit your contact and key personnel information. You will not be able to edit your original LOI submission.
- Applicant Cover Letter (one single spaced page; 12-point font)
The applicant must provide a cover letter describing why he/she is qualified to conduct the proposed research and how the proposed activities will advance value assessment and the goals and needs of patients and other stakeholders. The letter should also state whether the applicant has any conflicts of interest related to the proposed research.
- Letter of support from affiliated organization or institution (if applicable)
- Research Plan
The applicant must prepare a brief unstructured abstract and comprehensive description of the research plan, not to exceed 3,000 words, 12-point font. It should include:
- a description of the objective(s)
- the rationale or existing gap the objective(s) will address
- an explanation on how the objective(s) fits within a broader conceptual framework of value assessment or value-driven decision-making
- the known limitations
- the expected findings and significance/potential impact or use of the findings
- how this work will be applied
- the preliminary research, if any, should also be included
- the proposal should state the plans for dissemination of findings (i.e., expected peer-reviewed publications, poster, or paper presentation at research meetings) – this is excluded from the page length restriction
- a bibliography of references cited – this is excluded from the page length restriction
- Budget
Submit a budget categorizing how grant funds will be used. List any other funding this project will receive, including startup funds for the applicant.
- Reprints of relevant articles published by the applicant
Award notification by December 15, 2021.
The PhRMA Foundation does not provide written reviews.
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Letter of Intent and Application Considerations
Evaluating the value of health care interventions is challenging. But, when designed well and used appropriately, tools that quantify the value of a health care treatment can inform decision-making for patients, providers, and payers. There are several criteria to consider in developing solutions to drive high-quality value assessment.
Bold and Novel Approaches Research Awards are designed to push the envelope further on value assessment methods, such as “how value is derived,” “what influences value” and the “who is affected by value assessment.” Research Awards should reflect bold and innovative ideas to improve value assessment methods and related designs.
Stakeholder Engagement A vital step to a successful shift toward a value-driven health care system is ongoing engagement with stakeholders. It is particularly important to incorporate patient perspectives and acknowledging that all individuals are future recipients of health care and are driving factors of high-quality value assessment. Recommendations for patient engagement processes are made available by the National Health Council.i
Real-World Applicability All funded activities should generate resources, evidence or ideas that can be applied feasibly in the U.S. health care system. Variations in practice patterns or disparities in care (e.g., demographics, socioeconomic status, and type of insurance) should also be acknowledged.
Adherence to Best Practices Proposed methodology should follow relevant, well-accepted recommendations, such as those published by the Agency for Health Care Research and Quality, International Society for Pharmacoeconomics and Outcomes Research, National Pharmaceutical Council Guiding Practices for Patient-Centered Value Assessment and Second Panel on Cost-Effectiveness in Health and Medicine.ii
Review and Validation Research activities should be subject to systematic ongoing validation to ensure that accurate, truthful, non-misleading and reproducible findings are generated. Results should not be disseminated until validated through expert review, with input provided by all relevant and qualified stakeholders. The process of review should be well-documented and accompany the dissemination of the results.
Patient-Centered Decision-Making Value assessment tools create opportunities to support patient-centered decision-making, if patients and other stakeholders are able to review and customize value information based on their own preferences. For example, the second panel on cost effectiveness in health and medicine recommends that all potential consequences of care should be presented in a transparent and disaggregated form, such as in an “impact inventory table.”iii Additionally, all criteria should be quantified and included in assessments, if possible.\
Addressing Uncertainty Tools or frameworks that assess care value should adequately explain and address all sources of uncertainty (e.g., in parameter selection, decision process, measurement) and conduct and present relevant sensitivity and scenario analysis.
References
i. National Health Council, Patient Engagement. Available at: http://www.nationalhealthcouncil.org/public-policy/patient-engagement
ii. Agency for Health care Research and Quality (AHRQ) Guidance for the Conduct and Reporting of Modeling and Simulation Studies in the Context of Health Technology Assessment. Available at: https://effectivehealthcare.ahrq.gov/products/decision-models-guidance/methods; International Society for Pharmacoeconomics and Outcomes Research Good Practices for Outcomes Research Practices. Available at: https:// https://www.ispor.org/heor-resources/good-practices; National Pharmaceutical Council Guiding Practices for Patient-Centered Value Assessment. Available at: http://www.npcnow.org/guidingpractices; Sanders GD, Neumann PJ, Basu A, et al. Recommendations for Conduct, Methodological Practices, and Reporting of Cost-effectiveness Analyses: Second Panel on Cost-Effectiveness in Health and Medicine. JAMA. 2016;316(10):1093-1103. doi:10.1001/jama.2016.12195.
iii. Sanders GD, Neumann PJ, Basu A, et al. Recommendations for Conduct, Methodological Practices, and Reporting of Cost-effectiveness Analyses: Second Panel on Cost-Effectiveness in Health and Medicine. JAMA. 2016;316(10):1093-1103.doi:10.1001/jama.2016.12195.
Click HERE for 2022 awards brochure. Please contact the PhRMA Foundation at foundation@phrma.org or call 202-572-7756 for more information.
