What is the problem?

Resource allocation and funding decisions for new and innovative medicines present complex problems where multiple value trade-offs need to be considered. 

Their value is multi-dimensional and not strictly limited to clinical benefits and costs. Many of the current health care evaluation methods may overlook other benefits that could be important to patients, physicians, and society. 

Methodological limitations due to unclear definition of value, inadequate techniques for the synthesis of various value components and lack of information on their relative importance, can possibly lead to arbitrary and inconsistent considerations which can demote efficient decision-making.

How can we help?

WisedOn aims to aid decision-making processes at group level throughout product life-cycle, from project investment and clinical development to licensing and coverage decisions. 

By being flexible and transparent, WisedOn allows users to rank alternative medical technologies by enabling the construction of their value preferences. WisedOn has strong theoretical foundations and combines the implementation of the Advance Value Framework™ and MACBETH™ method.


Advance Value Framework™

The Advance Value Framework™, developed by researchers at the London School of Economics and Political Science, is a decision analysis methodology based on Multi-Attribute Value Theory for the purpose of Health Technology Assessment (HTA). 

It allows users to build value models to assess a set of products, by selecting disease-specific evaluation criteria and weighting them by their relative importance. 

The final output is an overall weighted preference value (WPV) score for each product, that can be used to compare, rank or qualify them.

Angelis A, Kanavos P. Multiple Criteria Decision Analysis (MCDA) for evaluating new medicines in Health Technology Assessment and beyond: The Advance Value Framework. Soc Sci Med. 2017 Sep;188:137 - 156.

MACBETH™ method

MACBETH™ (Measuring Attractiveness by a Categorical Based Evaluation Technique) is an
interactive approach for helping decision-makers quantify the relative attractiveness of alternative options. 

It employs a questioning procedure of pairwise comparisons, by only requiring qualitative judgements about differences in value.

Bana e Costa CA , De Corte J-M , Vansnick J-C . Macbeth. Int J Inf Technol Decis Mak 2012;11(02):359–87