A practical application of Value of Information analysis
Application of VoI to COPD model by Isaac Corro Ramos, Maureen Rutten and Maiwenn Al
A recent press release of the Value in Health journal highlighted the work of iMTA colleages Isaac Corro Ramos, Maureen Rutten-vanMolken and Mainwenn Al.
Corro Ramos et al. focused on determining the impact of including randomized controlled trials (as an example) at the time a decision is made, and whether the more complex models are always needed to address prioritization of additional research.
Corro Ramos et al. constructed a typical decision model for chronic progressive diseases with four health states and parameters related to transition and exacerbation probabilities, costs, and utilities.
They show that additional uncertainties arising from outcomes studies should be anticipated at an early stage and included in the model because this can have a strong impact on the prioritization of further research.
Link to Value in Health article here