Monday, 22 October 2018
The PhRMA Foundation and the Personalized Medicine Coalition (PMC) announced that OHE’s Director Adrian Towse, and Lou Garrison, OHE Senior Visiting Fellow and Emeritus Professor at the University of Washington School of Pharmacy, are joint recipients of the first prize of the 2018 Value Assessment Challenge Awards designed to encourage innovative approaches in defining and measuring value in health care.
In their winning paper, “A Strategy to Support the Efficient Development and Use of innovations in Personalized and Precision Medicine,” Garrison and Towse call for a broadening of the concepts of value in personalized/precision medicine, laying out six basic policy principles as pathways to help determine value. These range from the need for flexible, value-based pricing to real-world evidence generation in personalized/precision medicine.
Adrian Towse said that “Lou and I are really pleased and honoured to receive this award. Our proposed strategy weaves together various threads of our joint research over the past ten years—much of it in collaboration with others in our field. We recognize the new challenges for health technology assessment in precision medicine and call for a greater focus on ensuring genuine value creation is rewarded appropriately to support optimal rates of long-term innovation.”
Recipients of Challenge Awards will be acknowledged during PMC's 14th Annual Personalized Medicine Conference at Harvard Medical School on Thursday, November 15th. They will be asked to present their winning papers at a public forum, to be announced later, where they will be honoured for their work.
Adrian and Lou’s paper will be submitted to a journal. Some earlier work on which it is based is set out below.
- Towse, A. and Garrison, L., 2017. Value assessment in precision cancer medicine. Journal of Cancer Policy, 11, pp.48-53.
- Garrison L., Mestre-Ferrandiz J, Zamora B. The Value of Knowing and Knowing the Value: Improving the Health Technology Assessment of Complementary Diagnostics. Office of Health Economics and EPEMED, 2016
- Towse A, Garrison LP Jr. Economic incentives for evidence generation: promoting an efficient path to personalized medicine. Value Health. 2013 Sep-Oct;16(6 Suppl):S39-43
- Garrison LP and Towse A. Economics of Personalized Medicine: Pricing and Reimbursement Policies as a Potential Barrier to Development and Adoption. Chapter in: Culyer T, editor. Encyclopedia of Health Economics. Oxford: Elsevier; 2014.
- UK Academy of Medical Sciences, Realizing the Potential of Stratified Medicine, 2013.
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