VALUE OF INNOVATION
The Value of Innovation (May 2009)
The aim of this review is to provide an overview of how innovation is currently valued in the UK health system and the potential initiatives that can be adopted in order to promote innovation in the NHS. The report includes a review of the scientific, policy and economic literature relevant to the following questions:
- What key research has already been undertaken into valuing innovation in the health care and other sectors both in the UK and internationally?
- How may innovation be defined, a) in the context of health technology assessment and b) wider areas of economic activity?
- What approaches have been used, or are in development for assessing the value of the innovative nature of a) health technologies, and b) interventions used in other areas of economic activity?
- Where and how do the existing arrangements for healthcare technologies take the value of innovation into account, both at the macro level and for specific technologies? Are there any deficiencies in the current approaches including the implications of the timing of evaluations including those for licensing? What approaches have other health technology assessment agencies implemented?
- Are there any additional ways for taking the value of innovation account that could be integrated into NICE’s decision-making processes? What might be the implications of these for NICE?
This report was prompted by recommendations in The Kennedy Study, commissioned by NICE.