Assessing the value of medical technologies often relies on complex mathematical models that provide estimates of benefits, costs, and risks of different options – all before we even arrive at the question of how to define “value.” There are numerous approaches and methods for arriving at these estimates with widely varying assumptions and perspectives. The result is an abundance of conflicting results that generates confusion, controversy, and lack of trust among decision-makers. This, in turn, impedes efforts to link reimbursement and policy decisions to treatment value.
A new approach is needed: a transparent and open-source system for estimating the value of medical technologies in a way that centers on the patient, allows for a broad range of perspectives, incorporates the latest available evidence, and considers the full range of scientifically defensible approaches.
The Open-Source Value Project is that approach.