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Tuesday, May 21, 2024

IVI and AcademyHealth collaborate on a project to enhance the assessment of patient healthcare expenses

IVI and AcademyHealth Launch New Initiative to Improve Patient-Centered Outcomes Measurement

The Innovation and Value Initiative (IVI) and AcademyHealth have partnered to launch an exciting new initiative aimed at improving the way researchers measure the full range of economic impacts of health care and health conditions on patients and caregivers. The initiative, titled “Recommendations to Guide Adoption of Patient-Centered Outcomes and Impacts for Decision-Making,” seeks to address the need for a better approach to understanding the financial impacts on individuals living with serious health conditions.

As part of the initiative, IVI and AcademyHealth will be convening a series of strategic dialogues with stakeholders to identify effective ways to measure the economic impacts on patients and caregivers. Both organizations are committed to ensuring that patients are actively engaged in healthcare research and value assessment.

Jennifer Bright, IVI’s Chief Engagement and Strategy Officer, emphasized the importance of understanding the decisions that patients make when weighing treatment and the cost burdens that come with it. “Patients are the individuals with the most experience about their condition, the impact of their health and healthcare on their everyday life, as well as the impact on their family. The healthcare system must build better approaches to understanding these decisions,” Bright stated.

The organizations aim to develop a framework for measuring economic impacts to patients and caregivers that goes beyond traditional measures such as co-pays and co-insurance. An approach that includes impacts related to employment and wages, social considerations, and educational attainment is needed to make our understanding of healthcare value more meaningful.

Elizabeth Cope, Senior Director for Public and Population Health for AcademyHealth, expressed excitement about the partnership and its potential impact. “While there has been a lot of progress in understanding the importance of including patient experiences into healthcare research and value assessment, we still need to develop specific measures to advance our goals. We at AcademyHealth are looking forward to partnering with IVI on this important initiative,” Cope said.

The Economic Impacts Project is partially funded through a Patient-Centered Outcomes Research Institute® (PCORI) Eugene Washington PCORI Engagement Award (EASCS-24274). The insights from this series of roundtables and interviews will inform a sustainable framework for the future of healthcare research and value assessment.

For those interested in learning more about the Economic Impacts Project, please contact Erica Malik at erica.malik@thevalueinitiative.org.

This exciting collaboration between IVI and AcademyHealth represents a significant step forward in the measurement of patient-centered outcomes and economic impacts. By prioritizing patient engagement and incorporating a broader range of economic considerations, the initiative has the potential to drive meaningful change in healthcare research and decision-making.

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