Value of Sample Information as a Tool for Clinical Trial Design
The Expected Value of Sample Information (EVSI) uses evidence about the costs and effectiveness of different interventions to calculate the economic value of specific trial designs. Despite the potential benefits of using the EVSI , in terms of finding economically valuable trial designs, practical applications have been limited due to computational difficulties and ease of interpreting the results.
Recently, methods have been developed to allow for the efficient computation of the EVSI across different trial designs. This allows researchers to use the EVSI as a tool for clinical trial design. This talk will present a recent method for EVSI calculation that is based on variance calculations and Bayesian updating alongside an R package that has been developed to aid with EVSI calculations. An example based on the HomeHealth feasibility study will be demonstrated to show how the EVSI can be used in a real world setting. We also demonstrate the capabilities of an R Shiny tool that has been developed for the presentation of the EVSI to key stakeholders.