The PhRMA Foundation is working to improve public health by proactively investing in innovative research, education and value-driven health care. As a part of this mission, the Foundation is supporting initiatives that advance the patient perspective and health equity in value assessment.
Traditional value assessment frameworks – particularly those that rely on a cost-per-QALY approach – often neglect to include the experiences and outcomes that matter to patients, instead disproportionally focusing on clinical trial outcomes. Further, cost effectiveness is only one component of a complex spectrum of value-based care. More work is necessary to improve the process and practice of value assessment so that it puts patients and the aspects that are important to them first. This is the gap the Foundation’s Value Assessment Initiative seeks to close.
With the launch of the Value Assessment Initiative in 2017, the Foundation saw an opportunity to broaden the current discourse surrounding value assessment research through the support of researchers and institutions who are exploring new ways to define and measure health care value. The program is currently supporting four Centers of Excellence and providing funding opportunities via Challenge Awards and Research Awards to support the work of innovators in this important new arena.
The initiative ensures that as the Foundation pursues its historical mission of supporting the research efforts of talented young scientists, advancing health care value and patient-centered outcomes remain key goals.
To learn more about the PhRMA Foundation Value Assessment Initiative (VAI) click here.
You can learn more about the Foundation’s past and currently supported research in the links below.