Newswise — The PhRMA Foundation and the Personalized Medicine Coalition (PMC) partnered earlier this year for the 2018 Value Assessment Challenge Awards — designed to encourage innovative approaches in defining and measuring value in health care. $85,000 in total funding was offered to researchers who answered the question: What are potentially transformative strategies and methods to define and measure value at all levels of decision making that are aligned with personalized/precision medicine?
First place ($50,000) was awarded to Louis Garrison, PhD, University of Washington; Adrian Towse, MPhil, MA, Office of Health Economics, London, England. Their proposal: A Strategy to Support the Efficient Development and Use of innovations in Personalized and Precision Medicine.
Second place ($25,000) was awarded to Robin Z. Hayeems, ScM, PhD, the Hospital for Sick Children, Toronto; Stephanie Luca, the Hospital for Sick Children, Toronto; M. Stephen Meyn, MD, University of Wisconsin; Eleanor Pullenayegum, PhD, the Hospital for Sick Children, Toronto; Wendy J. Ungar, PhD, the Hospital for Sick Children, Toronto. Their proposal: Genome Diagnostics: Novel Strategies for Measuring Value.
Third place ($10,000) was awarded to Quang A. Le, PharmD, PhD, Western University of Health Sciences, College of Pharmacy. His proposal: Discrete-Event Simulation -- An Alternative Patient-Level Modeling Approach for Value Assessment: A Cost-Effectiveness Study of Current Treatment Guidelines for Women with Postmenopausal Osteoporosis.
Dr. Garrison and Dr. Hayeems will be discussing their projects and participating in a panel discussion during the PMC Policy Committee Meeting and webinar at 12:10 p.m. ET on Wednesday, December 12, in Washington, D.C. The meeting will be held in the Large Concourse Room of the CSIS Building, 1616 Rhode Island Avenue, NW. The panel will be moderated by PMC Senior Vice President for Science Policy Daryl Pritchard, PhD.
Click here for additional information, including registration details.
The Challenge Awards, first offered in 2017, are one component of the PhRMA Foundation’s multi-faceted Value Assessment Initiative, which supports a variety of research and innovation projects to help the United States make a successful transition to a value-based health care system.
About the PhRMA Foundation’s Value Assessment Initiative
The PhRMA Foundation’s Value Assessment Initiative is aimed at encouraging more evidence-based research on how the true value of medical treatments can be accurately defined and quantified. To date, the Foundation has awarded more than $1.4 million to support a variety of research projects on that topic. The Challenge Awards are part of a three-pronged approach along with Research Awards and Centers of Excellence. To learn more, please visit www.phrmafoundation.org.
About the Personalized Medicine Coalition
The Personalized Medicine Coalition (PMC), representing innovators, scientists, patients, providers and payers, promotes the understanding and adoption of personalized medicine concepts, services and products to benefit patients and the health system. To learn more, please visit www.personalizedmedicinecoalition.org.
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