Dr Jon Campbell on Benefits of Using MCDA in Value Assessment

Jonathan Campbell, PhD, associate professor, Department of Clinical Pharmacy, Pharmaceutical Outcomes Research, Skaggs School of Pharmacy and Pharmaceutical Sciences at the University of Colorado, discusses the value of multi-criteria decision analysis (MCDA) in value assessment, as well as lessons learned from using MCDA in other industries.

Transcript

What elements does multi-criteria decision analysis take into account that traditionally aren't accounted for in value assessments?

We’re going to focus on those components that aren’t common in cost-effectiveness and other understandings that would be considered traditional value. Those criterion include caregiver burden, things like severity of disease, especially in the more severe or rare diseases, this might be a great application. Novelty of therapy is a component, as well as insurance value, the quality of evidence, and even things like patient affordability.

What are some lessons learned from multi-criteria decision analysis being used in other industries, such as investment, that can be applied to its use in healthcare?

We have learned from other fields, operations research, that multi-criteria decision analysis is very applicable in fields where there are basic tradeoffs and tradeoffs between things that some of which may be monetized and others that are difficult to monetize or put dollars to. So, a field like environmental forestry or forestry planning, might be a good example of that, where you have to trade off things where the environment might win or there might be a social norm or understanding around a concept, and compare those things to more measures that are common in economics. So, the things that are monetized.