The PhRMA Foundation has funded two additional national Centers of Excellence as a part of its Value Assessment Initiative – which is encouraging more evidence-based research on how the true value of medical treatments can be accurately defined and quantified.
The centers will be located at Tufts Medical Center and the University of Colorado.
The two centers are each being supported by $500,000, three-year grants from the Foundation. Other Centers of Excellence were established last year at the University of Maryland and Altarum/VBID-Health.
Tufts’ Center for Enhanced Value Assessment (CEVA) will be directed by Peter J. Neumann, ScD, and will be headquartered within its Center for the Evaluation of Value and Risk in Health, founded in 2006 in Boston. CEVA’s mission will be to explore the quantitative incorporation of additional elements into traditional cost-effectiveness analysis (CEA).
The new CEVA center will serve as a platform to focus on the proliferation of value-assessment frameworks in the United States — a relatively recent phenomenon in health care cost-effectiveness analysis. CEVA’s mission will be to explore the quantitative incorporation of additional elements into traditional measures — such as cost-per-quality-adjusted life year (QALY) — by developing and exploring the magnitude of enhanced cost-effectiveness elements; engaging patients and stakeholders to identify important novel and non-standard elements; and reporting findings back to stakeholders.
The University of Colorado’s Center for Pharmaceutical Value (PValue), directed by Jonathan D. Campbell, PhD, will apply and test novel methods for U.S. value assessments to improve coverage and reimbursement decision-making in health care.
PValue will be headquartered within the D2V initiative, a Transformational Research Funding project supported by the Dean’s Office of the University of Colorado School of Medicine. D2V will support PValue through a matching award of $500,000. Additional D2V support will include peer review, shared professional research assistance, project management expertise, and institutional accountability.
PValue’s mission will be to apply and test novel methods to improve the pharmaceutical coverage and reimbursement decision-making process, with the goal of improving transparency, consistency, and fairness of decisions.
