Is value defined by lowering the cost of care or the quality of treatment outcomes? Ultimately, achieving and sustaining high-value, cost-effective care for patients is the goal of any healthcare system. But calculating the value of treatment can be a challenge.
Value calculators have emerged from this debate about the rising cost of care. These tools attempt to provide a means for quantifying cost and comparative effectiveness. However, these tools mostly rely on randomized clinical trial data for assessing clinical benefit, instead of real-world evidence and patient-reported outcomes, and base their analysis on drug use as opposed to a more holistic view of oncology care.
In this article, Dr. Bruce Feinberg, DO, and Dr. Chadi Nabhan, MD, MBA, FACP, review the limitations and advantages of several value calculators and suggest opportunities for refinement.