ICER revises value assessment methodology, public comments open
The non-profit Institute for Clinical and Economic Review has posted for comment their updated Value Assessment Framework. ICER is an independent research institute that analyzes evidence on the effectiveness and value of drugs and other treatments, including evidence-based calculations of prices for new drugs that accurately reflect their value in long-term patient outcomes and highlighting prices that may be unaffordable for the entire health system. ICER’s assessments have been essential to government and private payers in assessing the value of new drugs and other treatments and keeping health care affordable. The new improvements to the framework have earned positive feedback. It builds on ICER’s work over the last two years with stakeholders to improve transparency and reflects input from over 50 patient groups, life science companies, insurers and policymakers. Improvements include emphasis on patient-reported outcomes, expanded standards for cost-effectiveness ratios, and use of real, rather than list, prices that take account of rebates.