About
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
