Rapid Assessment of the Need for Evidence: Applying the Principles of Value of Information to Research Prioritisation

Glynn, David; GC, Vijay; Claxton, Karl; Littlewood, Chris; Rothery, Claire

Abstract

We propose a short-cut heuristic approach to rapidly estimate value of information (VOI) using information commonly reported in a research funding application to make a case for the need for further evaluative research. We develop a “Rapid VOI” approach which focuses on uncertainty in the primary outcome of clinical effectiveness and uses this to explore the health consequences of decision uncertainty. We develop a freely accessible online tool, RANE (Rapid Assessment of the Need for Evidence), to allow for the efficient computation of the value of research. As a case study, the method was applied to a proposal for research on shoulder pain rehabilitation. The analysis was included as part of a successful application for research funding to the UK National Institute for Health and Care Research. Our approach enables research funders and applicants to rapidly estimate the value proposed research. Rapid VOI relies on information which is readily available and reported in research funding applications. Rapid VOI supports research prioritisation and commissioning decisions where there is insufficient time and resources available to develop and validate complex decision-analytic models. The method provides practical means for implementing VOI in practice, thus providing a starting point for deliberation and contributing to the transparency and accountability of research prioritisation decisions.

Citation

Glynn, D., GC, V., Claxton, K., Littlewood, C., & Rothery, C. (2024). Rapid Assessment of the Need for Evidence: Applying the Principles of Value of Information to Research Prioritisation. PharmacoEconomics, 42, 919-928. https://doi.org/10.1007/s40273-024-01403-w

• Journal Article Type: Article
• Acceptance Date: May 27, 2024
• Publication Date: Jun 20, 2024
• Deposit Date: Nov 11, 2024
• Journal: PharmacoEconomics
• Print ISSN: 1170-7690
• Publisher: Springer Verlag
• Peer Reviewed: Peer Reviewed
• Volume: 42
• Pages: 919-928
• DOI: https://doi.org/10.1007/s40273-024-01403-w
• Keywords: Value of information, research prioritization, decision support tools, minimal modelling