Avalere and FasterCures recently collaborated together on a Health Affairs blog post, which outlines how the Patient-Perspective Value Framework (PPVF) measures factors that truly matter to patients when making decisions between different healthcare options. The piece also explains how the PPVF’s five key elements are unique in comparison to other value assessment frameworks that are currently in the market:
- The value assessment is driven by, and grounded in, patient preferences, e.g., values, needs, goals, expectations, and openness to financial trade-offs, which are used to weight the importance of all other aspects of the framework.
- The PPVF incorporates outcomes that matter to patients, e.g., a healthcare option’s effect on functional status, quality of life and route of administration, and uses real-world data to measure those outcomes, instead of relying solely on data available from randomized clinical trials (RCTs).
- The PPVF measures “true” costs to the patient and family, by calculating total out-of-pocket costs associated with a healthcare option, as well as the non-financial burdens, e.g., the level of caregiving, patient support, and education/skill building necessary.
- The PPVF considers how the available evidence applies to specific patients/patient populations, so that patients can better understand how a healthcare option impacts people like themselves (e.g., with similar demographic profiles and disease states), instead of a broad population.
- The PPVF ensures that the principles of usability and transparency are at the foundation of the value assessment process, so that the information produced is accessible and meaningful for the intended audience.
In May 2017, Avalere and FasterCures released the Patient-Perspective Value Framework (PPVF) Version 1.0, to assess the value of healthcare options based on factors that matter to patients. For example, PPVF addresses patient-centered outcomes such as functional/cognitive status, quality of life, the complexity of a treatment’s regimen, and total medical/non-medical out-of-pocket costs to the patient and family, and weights their importance based on individual preferences.
Phase I of the PPVF Initiative concluded this month, and Phase II will be kicked off in June 2017. For more information on what we have achieved so far, where we’re going, and to take a look at the PPVF Version 1.0 materials, please see here.
Read the full Health Affairs blog post here.