Innovation and Value Initiative Responds to HHS’ Blueprint Saying Lowering

Healthcare Costs Requires Improving Value Assessment

IVI Says Moving Beyond Cost Effectiveness by Evaluating Treatments Based on Unique Patient
Characteristics and Preferences is Imperative

Los Angeles, CA, July 17, 2018 --(PR.com)-- If we are going to truly harness data to lower healthcare
costs while accelerating and rewarding innovation that benefits patients, then defining and assessing value
in healthcare must improve, the Innovation and Value Initiative wrote today in a comment letter to the
U.S. Department of Health and Human Services (HHS), responding to the HHS blueprint to lower drug
prices.

"The sad reality is that while the pace of innovation has accelerated in medicine, innovation in the
measurement and reimbursement of healthcare value has not kept pace," said Jennifer Bright, IVI's
executive director, who signed the letter.

IVI noted that the most commonly used approach for comparing value of treatments is cost-effectiveness
analysis, which offers a limited view by focusing on health outcomes for the average patient. IVI called
for a wider focus in value measurement, with an emphasis on incorporating new methods and data
sources that can help the U.S. evaluate treatments based on patient's unique characteristics, preferences
and goals for their care.

IVI offered comments on two primary themes: transparency to all stakeholders and the incorporation of
patient perspectives in value assessment.

“Price transparency must start with the premise that the unit price of a therapy is just one component of
overall cost,” IVI's letter reads. “To fully capture and understand cost, the Administration must carefully
and thoughtfully address the definition of value and the components used to assess whether a treatment or
intervention has value not only for the patient but also relative to the societal goal of using resources
wisely.”

IVI stressed the importance of building patient perspectives into all models and tools that measure value.
“Improving healthcare for patients requires that patient perspectives and lived experience remain relevant
throughout the lifecycle of innovation - from defining important endpoints for research to designing
benefits that ensure access to the right medication at the right time for the right patient,” according to IVI.

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Contact Information:
Innovation and Value Initiative
Eric Hoffman
703-548-0019
Contact via Email
http://www.thevalueinitiative.org/

Online Version of Press Release:

You can read the online version of this press release at: https://www.pr.com/press-release/759549

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