Reglstered numb•r: 09848965 Charlty number.. 1170829 THE OFFICE OF HEALTH ECONOMICS IA company limited by guarantee) TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 310ECEMBER 2020 4AACZ£6P8• 14109r2021 COMPANIES HOUSE #134 1 THE OFFICE OF HEALTH ECONOMICS (A cOmp￿Y limil•d by guaranlee) CONTENTS Page Reference and adm5nlstratlv• d•taS19 of the company. its trustees and advisers TTUStee5' report Ind•p•nd•nl audltorn. report 7-10 Consolidated statÈm¢nt of finanelal acii¥iti•s Constslid#tsd bolance sheet 12 Company balanee sheet 13 Con$olfid#ted $tst•m•nt of cash flows 14 Notès to thè flnancial statejnents 15-24 THE OFFICE OF HEALTH ECONOMICS (A company limlled by 9u¥ants*) REFERENCE A14D ADMINISTIiATIVE DETAILS OF THE COMPANY. ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER Z020 Trustees Prof B Jonsson, Trustee Prof M Drummond. Trustee Mr H Ahmad. Tnjstee Ms A Charlesworth, Trustee Ms L Timlin, Tnjstee Ms C Fox. Trustee {re5igned 29 April 20201 Dr R D Torbett. Tru5tee18ppoinled 1 January 20201 Mr U K Bose, Twstee lappointed 1 May 20201 Company regislered number 09848965 Charlty reglstered number 1170829 Registered office 7th Floor. Soulhside 105 Victoria Street London SW1E 6QT Company secTetsry R Hollingsworth Chief executive officer Prof G Cookson Independent audltors BDO LLP Statulory Audit￿ & Chartered Accounlants 2 City Place Beehive Ring Road Gatwck West Sussex United Kingdom RH6 OPA Page 1 THE OFFICE OF HEALTH ECONOMICS IA comwy lim5ted by guaranlee TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2020 The Trustees. who are also direct(Ks for the purposes of company law. present their ￿port together wth the audited consolidated finanaal statements of Ihe group and the company, 'The Office of Health Economics. I'OHE.. 'the charitable companf. Wie Chari￿ or Ihe compan￿) (registered in England and Walès). and its subsidiary undertaking OHE Consuming Limrted (registered in En9Land and Wales) (cdlectively"the group") for year erKJed 31 December 2020. The Trusteès confim that the Annual Report and finanual 5tstÈmènts trf the company comply with the ¢urrÈnt $iatutOry requirements. the requirernents of the ¢ompanVs goveming document and Ihe provisions of the ststement of Recommended Piath"¢e ISORPI, applicable to tharib"e5 Preparing their a¢¢ounts in accordance with the Financial Reporting Standard aWicable in the UK and Republic of Ireland IFRS 1021 (effective 1 January 20151 as amende(I by Update Bulletffi 1 leffeciNe 1 January 20151. As slatèd in Note 17 to the finanual statements the uhimate parent eompany of OHE ts conSide￿d to bè the Associab'on of the British Pharmaceutical Industry (Ihe ABPI.). The ABPI provides a rese8rch gr811t to OHE to enable it to ind•pèndenUy progress its charilable purpose and obj•th"ves as summarised below. The financial statements compty wth the Charthes Act 2011. the Companies Act 2006. the Memorandum and Artides of Assooation. an¢J A￿oUnting and Reporting by Charib"es: Slatement of Recommended Practice applicab￿ to charities preparing their accounts in accordance The Finanaal Reporting Standard appIl￿ble in (he UK and Republic of Ireland IFRS 1021 (effective 1 January 20151 I"Challb"e5 SORP FRS 102.). Obi¢dives and Actlvltles The Office of Heath Economics. otiectives are to advan￿ the edU￿tIOn of the txjblic in generalthealth care payerslpolicy maker5. particuLgrly patients and heallhcare professionals. C￿ Ihe subject of health economics and healthca￿ p)licy. Actiwlies in bjrtherance of this include. n partukv, not exchjwly.. the promotion of evidence based health care policy. by caThying out research on the economics of he81th, heallh care system5 8rKI the lrfÈ SCAÈncÈs industy. and the promotiL￿ of effective and effitient use of health ¢are ￿$oUr¢e$. by advan¢in9 the use of economic approaches lo support decision making,. and the facilitation of deci5bon making and ¥Wa￿ne$S of heamh Ca￿ policy iSSL4es. by encouraging debate and isstminatK)n of relevant health econom￿ resèarch. The term 'heafth economic5" means the application of eCor￿)iC lhe￿y, models and empirical techniqu85 to the analy3is of deasions making by pe￿e. heallh care providers and govemments with respect to health 8nd health care. In planning the activities of the charity. the Trustees have had regard to the Charity Commission's guidance on public benefit. They consmler thè infomialKJn vknich follows in this annual report, about the ¢ompany's aims, activities and achievernents in the areas of inttrrest thal the company SUpp￿ts demonstrates the benefit to its beneficiaries and Ihrough thern to the public. Page 2 THE OFFICE OF HEALTH ECONOMICS (A company limited by guwanleel TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2020 A¢hiev*ments and porfomian¢e OHE has once again undertaken an ambityous programme of original researth, generating findings puljished in hwjh quality peer reviewed joumals. and wa its own publication series, on the economics of heath technology appraisal, the economics of health care s￿leMS and the e0)r￿mICS of the lrfe sciences industry. OHE'5 work has direct relevance lo policy. and evidence our researth pr(NJramme infoms health ¢are decision making and healih care policy. OHE also contn'butes direcuy to the devel¢)prnent and promotion of excellence in the field of health ecor￿MIcS wa our seminar5, lectures, leadership ro￿ in professional sdered financial perfomiance, key diivers for bonus or other perfomiance targets. We also considered the risks of non-c¢ynpliance with other requirements imposed by the Charity Commiss￿n, and we consKlered the extent to which non-compliance might have material effect on the group finan(xal ststements. In addition. the Group is subjÈ¢l to manyother Laws and reguL3tions whèr8 the c(msèquences of n￿-cOmpli3￿cè could have a material effecl on amounts or disdosures in the finanaal statements. for instance through the imposition of fines or lrtig8tion. We K1entifiet1 the following a￿a$ as those most h.kely to have such 8n effecl.. emplO￿nent law and daia protection. Auditing standards limit the required audit pr¢xedures to identify non- compliance wth these laws and regulations to enquiry of the Those Charged Govemance and other management and inspection of regulatLYy and 18gal correspuhlence rf any. Our tests includèd agreeing the financial statement disclosures to underlying supp 1.13 Critleal accounting •stim?tes and areas of Judgm•nl Ests"male5 and judgments are CLJnlinually evaluated and are based on historical experience and other faCt￿s, including expectations of fu1U￿ events that are believed to be reasonable under the ¢ir¢umstsnces. Critscal aC¢Lwting estimates and as5umptK¥bS: The company makes est¥nates and assumptions conceming the future. The resultsng accounting estimates and assumpti¢Jns ￿11, by definitK*n. seldcffi equal the related actual resulls. The estimates and assumpt￿nS that have a signfficant risk of causing a rnalefjal adjustmerbt to the carryng amounts of assets and liabilities writhin the nexl financial year are discussed below. Critscal areas of judgmenL (a) Impairmentoftrade and otherdeblors The company makes an estimate of Ihe recoverable value of trade and other debtor5. When 8S5essng impairment of trade and olher debt(xs. management considers factors br)cluding the credit rating of the debtor. ageing profile of the deblors and historical experien￿. See Nole 10 for the net caryng amount of deblry5. (b) Accrued and defernedincome The group e$limates th? amrwnt of any in¢cffne getRrated bLrt not invol￿1 to rustomws at the year- end, or vice ver5a. based on the extent of services provided arbd %that is expecled lo be invoiced after the period end. or alrea¢Jy been invoiced before the period end. Ch¥rltsbl¢ •¢t1V￿¢S Ttstsl 2020 Total 2019 Unrestricl•d 'Dired charitable expenditure Support C05ts- govemance (Note 3) Supw>rt costs- general {Note 31 1.450.656 32,810 130,19S 1,450.6S6 32,810 130,195 1.532.722 30,598 123.945 Included wthin Direct chantable expenditure are staff costs totalling £945.164 (2019- £882,549). A further £1,469.051 (2019- £1.207.044) of staff costs are included wthin OHE Consultsng Limited trading acbvities vAthin Noie 4. An anatysis of stsff costs of £2,414.215 (2019- £2,089.593J, 15 provided in Note 6, Page 18 THE OFFICE OF HEALTH ECONOMICS (A company limlled by guarantee) NOTES TO THE FIP4ANCIAL STATEMENTS {CONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2020 Support ¢osts Tgtal 2020 Total 2019 Govfjman G•n•ral Legal arKI prolessional related costs Accounlancy reLated costs Human resources rebled costs Facilities related costs IT relited costs Other office supwrt related costs S8TT 24933 5.877 26,933 21.175 4.37B 28.306 6,018 24,580 17,821 5,595 18.096 21.175 4.378 28.306 76.336 76.336 82,433 Total 2019 Analysis of Expènditure by *xp•ndtturÈ type Other costs 2020 Olhercosts 2019 OHE Consujting trading actsvities 2.045.148 1.768.342 2045148 1 768 342 Direct charitable expenditure General support costs 1,450.656 130,195 1.532.722 123,945 Ch•rlt•ble *¢tlv5tle$ 1 580 851 1 656 667 Expend5ture on governance 32.810 30,598 1613661 1687 265 Total Expenditure Audltots. remuneralion 2020 2019 Fees payable to the cornpanls audi1￿ arKI its as￿lateS in respect of.. Audit-felated assurance semces Page 19 THE OFFICE OF HEALTH ECONOMICS (A ¢ompany Ilmiled by warnnlo•1 NOTES TO THE FINANGIAL STATEMENTS {CONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2020 Slaff costs Staff costs. including key management pefsonnel (see Note 71. were as folkl%￿.. 2020 2019 Wages and salaries Social security costs Cost of defined contributim scheme (Note 15) 2.045.380 238.594 13D241 1.757.923 207,660 124 010 Total The avera9e number of emF4oyees during the pèric*J was as fo11DV￿. 2020 No. 2019 No. Exe¢utive marHgement team Administrative staff 24 20 The number ofhigher paid em￿oYeeS wa5: 2020 No. 2019 In ihe band £60,001- £70.000 In the band £70,001 - £80.000 In Ihe band £80,001 - £90.000 In thè band £90.CK)1 - £100.000 In the band £130,W1 - £140,000 In the band £140,001 - £150.000 In the band £160.001 _ £170.000 Irl the band £170,001- £180.000 In the band £260,001 - £270.C(10 In the band £300,001 _ £310.000 The above band￿g$ indLwJe saLary. performance related bonus and any cash a11tr￿nCeS. Key management personnel 2020 2019 Wages and salaries Social security Costs Cost of defined contribution scheme {Note 15) 634.845 82.271 527,391 67.762 Total In addition lo the Board of TTUStees, thère wèrè 3 (2019- 3) key management personnel. 212019- 3101 which accruèd bÈnefrt5 under another group entitls defined contribution pension schemè during the period. Page 20 THE OFFICE OF HEALTH ECONOMICS (A company limit•d by guarantee) NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 20ZO Trust¢¢$' f•¢$ 2020 2019 Fees for seMce5 provided and reimlwr5ed expenses The highest paid Trustee ￿CeNe￿ remurwation of £NIL (2019- £NIL). B Jonsson. Trustee. recer¥ed fees seTrices provided during the period. of £2.350 (2019- £4,888J. M Drummond. Trusiee. received fees for servic¢s provided during the perK¥J. of£16,6SY) (2019- £15,084). A cha￿eSWOrth. Trustee. received fees for services wovided durwYJ the wiiod. of £15.840 (2019- £2.420). The fees and expenses paid to the three Trustees noteol 8bove during the period related lo the prowsion of consuttancy and advisory serwces in ￿SpeCt of direct charitable activrties. TINS directly contributed to the cornpany achieving its. objeth"ves. The service5 provided by the TFu51ees re￿teS to aJ¥ice in respect of speaalist area5 wilhin health economi¢s and h&atth￿re policy and hènce it would have proven difftult to obtain these seNces from a third party. No TTVStees ￿e1Ved fees for beiry TnJstee5 and ￿ other remuneralion or expenses were paid to the Trustees during Ihe penod_ The above payments were made in line wilh the authoritycontained within the Charit￿S memorandum and articles of associatson. Tangible fixeil assets Flxtures and flttlngs Group and Cofflpany Cost Al 1 January 2019 Additions 8.860 At 31 December 2020 Depr•ciatlon At 1 January 2020 Charge for the year 2,113 Al 31 December 2020 Net book valu8 At 31 December 2020 At 31 December 2019 Pagè 21 THE OFFICE OF HEALTH ECONOMICS IA company limit•d by guarante•) NOTES TO THE FINANCIAL STATEMENTS {CONTINUEO} FOR THE YEAR ENDED 31 DECEMBER 2020 1Q. Debtors Grou Com 2020 2019 2020 2079 Trade debtors Amounts owed by group undèrtakirwjs Other debtcws PrePa￿ents arKI accrued income 760,069 128.S49 1.240 207.403 481.852 91.129 142.193 565.398 1,240 99,371 47.626 787,223 643 139,539 476.716 11. Croditors- Amounts falling due withln one year Grou Com an 2Q20 2019 2020 2019 Trade creditors Amounts owed to parent company Other creditors Acwals and deferred income 28.025 375.717 35.671 784.155 21.772 386. 114 15.383 375,717 2,909 192.659 20,894 386, 114 633,638 371,388 12. Flnanclal Inslrumènts As restated ' 2079 2020 Financjal assets measured at fair value through income and expenditure Financial assets measured at amortised cosl 483,415 1 071967 327,227 7 042 840 Financial liabilitses measured at cost less impainnent Financial assets measured at fair value through income and expenditu￿ ¢ompri5e of cash and ¢ash eotjivalents. Finan¢ial assets measured at arn(¥lised cosl ￿MprIse of debtor5 falling due wNhin one year, excluding epayTnents. Finanaal ILab￿ltieS measured at cosl less wnpaimient cx)mprise of ueditNs falling due wthin one year, excluding deferre(l income. The restatement relates solely io Ihe calculation of Financial assets measured at amortised cost for the prior year which previously exduded aM￿nIS in ￿spect of awued w)come in error. totalling £469.216. Page 22 THE OFFICE OF HEALTH ECONOMICS {A ¢ompany Ilmited by gyarnntee) NOTES TO THE FINANCIAL STATEMENTS (CONTIMUED) FOR THE YEAR ENDED 31 DECEMBER 2020 13. Reconciliation of net movemerbt in funds to n•t cash flt)w from op•rating activities Grou 2020 2019 Nel incune for the year las per Stalemenl of Finarrial Acii¥hties) 18.850 264,176 Adjustment for. Oepreciation charges Ilncreaselldecrease in debtors Increaselldecrease) in creditors 2,215 {46.9211 182 044 2.113 (441,501) 23Q 826 Nèt eash provid•d byllus•d In) op•rating activities 14. Cash and cash equlvalents Grou Com 2020 2019 2020 2019 Cash at bank and in h8ThJ 483.415 327.227 135.573 145,40T l& Pension commitments The uttimate parent entity operates a defined bèn*fft CL)ntn"bution pension s¢heme. The pension5 ¢OSt chargè represents contributions wh￿h were payable to the fund. and were recharged by another group entityfor stsff undertaking work on behaff of the OHE Group. aThl amounted to£130,241 (2019- £124.010J. 16. Rela¢ed party tr¥nsaction5 Dufing the period Ihree Trustees re￿Ned fees for serviGes lotslling £34.880 (2019 - £22,392) (refer lo Note 8 for details). Al Ihe balance sheet date. no amount12019- £Nil) of this was outstanding. During the perK)d the company received resewth gr￿ts totalling £763.300 (2019 - £714,660) from the A8PI Irefer to Note 17 below). During the peri¢)d. the group and company incurred support C0515 totalling £413,300 and £163,006 respectively {2019- £364.660 ond£154.543). were recharged by the ABPI {refer to Not8 17 below}. t￿ring the current and comparative period. the company re¢eive(J a Iran5ferof profits from OHE Con5ultirvJ Limrted. which were transferred via Grft ANJ (refer to Note 18 below). Page 23 . THE OFFICE OF HEALTH ECONOMICS IA company limited by guarnntee) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEPIBER 2020 17. Ultim•te porent undertaking and eontrollkng paity The uttimale parent undertaking and controlling party 15 cwsidered to be the Association of the British Pharmaceutical Industry Lirnited 1.the ABPI"). regislered in England and Wa￿S 09826787. by virtue of il being the sole member of the company. The Asscoats"on represents innovatsve research based tJ"ophamaceulical companies. largè, mèdium and small, leading an exutin9 era of biosaence in Ihè UK. This cornpany prepares consolidated financial ststements. These are aval￿ble to the public and may be obtsined fr(￿ 7th Floor. Southside. 105 Vi¢tiyia Street. London. SW1 E 6QT. Principal subsidiaries OHE Consulling Limited Country of In¢orporntlon Percentage ShareholdSng Comp•ny name De$¢rlptlo OHE Consuming Limrted United 100% Provision ol policy and strategic expertise on heatthcare and related rnalters. During Ihe period, OHE Con5ulling Limited, registered company number 09853113, generated income totalling £2,338.995 (2019 £2,360,980J. and incurred expenditu￿ toialling £2,045,148 (2019 - £1. 768,342). generabng profrts for the per￿ of £294,234 (2019 - £593.202). OHE Consulting LNnited elected to transfer ils Profits. by Grfl ￿d. lo the company leamng aggregaled assets in OHE C￿sU111n9 Limited of £Nil ai gen.od end. 19. Post balance sheet events There have been no signrficant events aflecting the gr￿p since the year4nd. Page 24 _**Mireia Jofre-Bonet** Office of Health Economics, London_ ## _**SEPTEMBER 2021**_ ## _**Mireia Jofre-Bonet**_ _Office of Health Economics, London_ ## _**Graham Cookson**_ _Office of Health Economics, London_ _**Please cite this report as:**_ _OHE, 2021 . OHE Annual Report to the Charity Commission for the year 2020, London: Office of Health Economics. Available at: https://www.ohe.org/publications/ (TBC)_ ## _**Corresponding Author:**_ _Mireia Jofre-Bonet - mjofre bonet@ohe.org_ ## _**Professor Graham Cookson**_ _Chief Executive, OHE Honorary Visiting Professor in Economics at City, University of London_ _**Tel** +44 (0)207 747 1408_ _**Email** gcookson@ohe.org_ _i_ _**About OHE ......................................................................................................................................................... iii 1 Our Year in Numbers........................................................................................................................................ 1 2 Administrative information .............................................................................................................................. 2 3 Introduction ..................................................................................................................................................... 3 4 Activities Undertaken in 2020 in fulfilment of our charitable objects................................................................. 4 5 Financial review ............................................................................................................................................... 7 6 Structure, governance, and management in 2020 ............................................................................................. 9 List of acronyms**_ _ii_ ## _**OHE'S MISSION STATEMENT**_ _Support better health care policies by providing insightful economic and statistical analyses of critical issues._ ## _**HOW WE ARE ORGANISED**_ _OHE is a charity with registered charity number 1170829. A senior management team manages OHE. Its governance is the responsibility of its Board of Trustees. The Board of Trustees has three sub-committees with advisory roles: a Research Committee, which provides advice and guidance to OHE on its research programme; a Policy Committee, which advises OHE on engaging with policymaking and to meeting its Charitable Objects; and a Management Committee, which assists OHE with its operational and business planning._ _The company's ultimate parent undertaking party is The Association of the British Pharmaceutical Industry Limited ("the ABPI"), registered in England and Wales 09826787, the company's sole member._ _OHE's consulting work is carried out by OHE Consulting Limited, a for-profit company with registered company number 09853113. The Office of Health Economics wholly owns OHE Consulting Limited. For consulting projects, the client has a proprietary right to any intellectual property arising from work, distinct from research projects where OHE retains the intellectual property_ ## _**WHO WE ARE, HOW AND WHERE WE WORK**_ _By the end of 2020, the OHE team comprised 1 CEO, one Vice-President Head of Consulting; one Vice-President Head of Research, one Emeritus Director & Senior Research Fellow; one Director, two Associate Directors; three Senior Principal Economists, one Principal Economist, nine Senior Economists, one Business Intelligence Specialist, four Economists, and three Administrative Support staff. Also, in 2020 OHE had nine Honorary Research Fellows._ _We emphasise projects that tackle impactful policy and strategic issues with current and future significance. Our work involves stakeholders, clients, and external experts to obtain crucial new policy insights and identify strategies and optimal choices._ _Although OHE is based in London, we undertake projects both in the UK and internationally. We work collaboratively with a wide network of academics and other partners across the world._ ## _**HOW WE ARE FUNDED**_ _OHE's work programme is supported by research grants and consultancy revenues from many UK and international sources. OHE receives an annual research grant from the Association of the British Pharmaceutical Industry (ABPI) and undertakes consulting work for ABPI and other commercial clients. Any surplus from OHE Consulting is used to self-fund research projects identified as priorities._ _Our research programme is also funded by grants obtained from UK research councils and other national and international research funders, including the National Institute for Health Research (NIHR), the Health Foundation, the Cancer Research UK, the EuroQol Research Foundation, and a number of charitable and other organisations._ _iii_ _1_ ## _**Trustees and Directors**_ ## _**Auditor**_ _H Ahmad Trustee U Bose Trustee (from 1/05/2020) A Charlesworth Trustee C Fox Trustee (until 28/04/2020) B Jӧnsson Trustee_ _M Drummond Trustee L Timlin Trustee R Torbett Trustee_ ## _**Registered Office**_ 7th Floor, Southside _105 Victoria Street London SW1E 6QT_ _**Charity number** : 1170829_ _**Company number** : 09848965_ ## **BDO LLP** _Statutory Auditor & Chartered Accountants 2 City Place Beehive Ring Road Gatwick West Sussex RH6 0PA_ ## _**Bankers**_ _**National Westminster Bank Plc**_ _PO Box 113 Cavell House 2A Charing Cross Road London_ ## _**Senior Management**_ _**Chief Executive Officer** Prof Graham Cookson_ _**Head of Research and Vice President** Prof Mireia Jofre-Bonet_ _**Head of Consultancy and Vice President** Prof Lotte Steuten_ _**Director:** Martina Garau_ _**Associate Directors:** Grace Hampson Chris Skedgel_ _2_ _This is the fourth report to the Charity Commission for England and Wales since becoming a registered charity in December 2016._ _This year's_ _**Charity Report for 2020** includes the current document highlighting our work and the required financial information. The complementary_ _**Research Summary of 2020 for the Charity Report** , based on the report submitted to the Research Committee in March of 2021, provides OHE's research activity for 2020 in detail._ _The_ _**Charity Report for 2020** shows that, despite the circumstances, OHE remains committed to its charitable objects of advancing the education of the public in general/health care payers/policymakers on the subject of health economics and health care policy. Further, OHE uses health economics methods to produce evidence-based health policy and healthcare management, contributing to a more efficient and effective health care system._ _Beyond OHE's charitable objects at OHE, we also support:_ - _the advancement of evidence-based health care policy by engaging in research on the economics of health, health care systems and the life sciences industry;_ - _research for the effective and efficient use of health care resources, by advancing the use of economic approaches to support decision making; and_ - _decision making and awareness of health care policy issues by promoting debate and disseminating relevant health economics research.[1]_ _OHE was awarded_ _**Independent Research Organisation** status in February 2020. This award is granted by UK Research and Innovation (UKRI) which – through the seven Research Councils, Innovate UK and Research England – allocates more than £7 billion in research funding, primarily from the Science Budget of the Department for Business, Energy and Industrial Strategy (BEIS). IRO status recognises OHE's high quality of independent research and places us on equal footing with the UK's Higher Education Institutions, making us eligible to apply for UKRI funding on the same terms to fulfil our charitable aims better. In obtaining IRO status, OHE joined a highly selective list of organisations researching health economics (and related areas), namely: the Institute for Fiscal Studies (IFS); the National Centre for Social Research (NatCen); the National Institute of Economic and Social Research (NIESR); Nesta; the Overseas Development Institute (ODI); Rand Europe; and the Wellcome Trust Sanger Institute. Across the UK, there are currently only 64 IROs in total across all research fields, including areas as diverse as medicine, defence studies, history, and oceanography._ > _1 The term health economics shall mean the application of economic theory, models and empirical techniques to the analysis of decision making by people, health care providers and governments with respect to health and health care._ _3_ _In this section, we highlight examples of how OHE fulfilled charitable objects in 2020. A more detailed account of our activity is in the attached_ _**Research Summary of 2020 for the Charity Report 2020.** The report covers all OHE's research activities undertaken during 2020, i.e., all articles published in peer-reviewed journals, OHE peer-reviewed articles, consultancy reports, blogs on salient health economics issues and relevant events. It also highlights selected examples of our work for their impact and citations and conferences attended by OHE staff, presentations at other fora, research collaborations, OHE's lunchtime seminar series, brown bag seminars and a summary of the 2020 OHE Annual Lecture. Finally, the report lists the honorary positions other pro-bono activities that OHE staff hold, in line with OHE's charitable objects. As in 2019, the research summary demonstrates that OHE's research promotes the effective and efficient use of health care resources by improving the application of the economic methodology to sustain health care decision making._ _The charitable object of_ _**using health economics methods to produce evidence-based health policy and health care management that contributes to a more efficient and effective health care system** is mainly accomplished through research activities. As in previous years, OHE research output comprises articles that emerge from a research project and/or were originally supported by our core grant. Some of those outputs become peer-reviewed articles or OHE publications._ _The charitable object of_ _**advancing the education of the public in general/health care payers/policymakers on the subject of health economics and health care policy** is mostly fulfilled through our dissemination activities beyond publications, including the broadcasting of our findings in more general fora, thereby educating and informing health care decision-makers, patients and the general public._ _2020 presented some unexpected challenges for workshops involving healthcare system stakeholders with different perspectives, events, teaching and attending conferences due to the disruption caused by the COVID-19 pandemic. Thus, similarly to other organisations, OHE modified our modus operandi and relied exclusively on virtual workshops, events, conference attendance, and teaching activities._ _The_ _**Research Summary of 2020 for the Charity Report 2020** contains numerous examples of work that had a theoretical and/or practical impact and thus contributed to the knowledge transfer of health economics and how to improve the population's health and wellbeing. Below, we present some of OHE's work as examples of research that has resonated in the health policy debate and has helped spread health economics knowledge._ - _OHE's research work has been cited frequently in reports produced by_ _**NICE** as part of its ongoing_ _**methods review.** Whilst these reports are confidential, they will inform the consultation and the proposed changes. This provides an example of OHE research influencing the guidelines of HTA within the UK._ - _We have maintained our position as a leading voice in research on_ _**cost-effectiveness thresholds and allocative efficiency.** Mikel Berdud was invited to join a meeting to discuss approaches to_ _4_ _the identification of a cost-effectiveness threshold for Canada, hosted by the Institute of Health Economics. Our position as an expert in this area directly relates to our charitable object of using health economics methods to contribute to a more efficient and effective healthcare system._ - _**Presentations** delivered have also been a satisfactory number and a good indicator of the relevant research and policy areas. Even in pandemic times, the OHE team has managed to present its outputs and areas of expertise at various virtual events. These include presentations in conferences (e.g., ISPOR), the OHE annual lecture, universities (e.g., University of London) or other international institutions and forums (e.g., ICER, CGD, renew Europe). The presentations have focused on issues such as price transparency, payment models for COVID-19 vaccines, AMR, the optimal level of cost-effectiveness thresholds, and pricing or pull incentives in pandemic times. Through lectures and speaking at prestigious events such as those mentioned above, we are fulfilling our charitable objects of advancing the education of the public._ - _In November, an OHE Research Paper titled_ _**"Drop Dead: Is Anchoring at 'Dead' a Theoretical Requirement in Health State Valuation?"** (Authors: Chris Sampson, David Parkin, Nancy Devlin) was published and received considerable attention on social media platforms. The paper challenges the assumption that anchoring health state values at 'dead = 0' is necessary for values to be used in quality-adjusted life-year (QALY) estimation, considering five propositions supporting their argument. The paper concludes that the use of dead as an anchor is unnecessary and undesirable because of the methodological and conceptual issues it causes. Publications like these that gain traction within the community and challenge health economics practice fulfil our objective of advancing health policy makers' education on health economics and healthcare policy._ - _The 2020 Annual Lecture_ _**"How should the World pay for a COVID-19 Vaccine?"** was given by Professor Adrian Towse, Director Emeritus of the Office of Health Economics. The 2020 Annual Lecture - presented virtually due to COVID-19 - reflected on the scientific and commercial challenges such as development timelines, uncertainty in anticipated demand as well as financial risks faced by companies with substantial investments. Professor Towse set out the options for funding development and manufacture for vaccines and their strengths and weaknesses, including what is likely to happen if there is no regional or global collaboration on the way forward. He also put this in the context of the work of The Vaccine Alliance (Gavi) and others to build a sustainable vaccine market that can deliver for the populations of the world over time. About 300 registered to the virtual conference, and the actual attendance was over 200. Through the Annual Lecture series, we actively engage in the dissemination of health economics knowledge._ - _2020 has also been a highly prolific year regarding the number of research proposals submitted for the_ _**policy, incentives and organisation in health systems** research theme. OHE submitted a total of six proposals (one of which already won) for research over the next three-four years, for a total (potential) value of about £1.2 million. Of note, this potential value is above the income that other OHE research themes generate from funded research. The research proposals of 2020 to date have targeted a variety of prestigious funders (e.g., the Health Foundation, UK Research and Innovation, the Nuffield Foundation, Cancer Research UK), and many of them have been submitted as part of a multi-disciplinary research team, often involving external collaborators. The latter may be seen as a positive sign of OHE developing connections that can generate additional future collaboration opportunities. Among the proposals submitted, a significant number includes a central or partial focus on COVID-19._ - _**Pro bono activities** : The attached research summary for 2020 shows that OHE staff have been engaged in a wide variety of pro bono activities, including membership on advisory panels,_ _5_ _boards and committees and eleven associations with Universities. Pro bono activities also include prestigious think-tanks, participation on advisory boards, serving on committees, supervising student placements, examining doctoral research theses, and undertaking reviews._ - _**Other research and dissemination outputs** : In terms of outputs, OHE staff produced 20 external publications (17 peer-reviewed), 2 lunchtime seminars, 1 Annual Lecture, 6 Webinars and Roundtables, 74 external presentations, 3 brown-bag presentations, 48 external presentations, and 41 blogs._ - _**Research awards from prestigious funders and funded research projects** :_ _During 2020, OHE responded to a large number of research funding calls from high-ranking funding bodies (National Institute of Health Research; Cancer Research UK; Nuffield Foundation; Health Foundation; Medical Research Council; Diabetes UK; Newton UKRI; EuroQoL; etc.) and bid for research projects from a significant number of private companies._ _Nevertheless, we consider that, in 2020, our success rate was disappointing. Thus, we have completed an exercise of reflecting on which factors may have played to produce the low success rate. We gathered feedback from the institutions to which we applied and from particular members of the research committee. We have identified several reasons why some of our research grant applications did not succeed:_ - _1) The project may not have been considered broad enough by the funder because it focused on a particular geographical area._ - _2) We might have applied to funders whose research interests historically do not overlap with the interests of OHE (in terms of clinical versus health economics research)._ - _3) Our applications might not have ensured ticking all the boxes of the call, or we might have gone too far from our research comfort zone and proposed research in areas in which our expertise is not established._ - _4) Finally, one institution argued that the interlinkage of the research packages was not well explained._ _Besides these reasons, other external factors might have influenced the success rate of our grant applications:_ - _1) With the irruption of the COVID-19 pandemic, the focus of the research funded by UK institutions shifted dramatically. Calls were very focused on COVID-19 related projects._ - _2) The number of applications received by our target funders was much larger than usual. The disruption of teaching activities in universities and/or government funding in certain areas (e.g., global health) was vastly reduced._ _Nevertheless, as a demonstration of OHE reputation and independence, it is worth noting that in 2020, OHE was awarded an extension of grants from the Health Foundation and Cancer Research UK. In 2020, we won four funded research projects and three extensions to existing funded research projects. These amounted to a value of £0.132m._ _6_ _In 2020, OHE remained an organisation that undertakes research and related activities according to its charitable objectives._ _As reported last year, OHE owns the sole share in OHE Consulting Limited with the purpose of:_ - _Enabling OHE to employ a larger staff team than would be possible using research income alone._ - _Allowing staff to gain knowledge, skills and experience undertaking consulting projects that can be carried across into research and research-related projects._ - _Investing the profits generated from consultancy work as Gift Aided to OHE, subject to the agreement of the Directors of OHE Consulting Limited. This source continued to be essential for OHE's income in 2020._ _During 2020, OHE employed an average of 24 staff._ _The financial statements of OHE comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) ("Charities SORP FRS 102")._ _OHE's consolidated turnover (i.e., combining both OHE and OHE Consulting Limited) in 2020 was_ _**£3.67m** . The expenditure totalled_ _**£3.65m ,** which left a net income of_ _**£18,850** , smaller than that of 2019._ _Of the £3.65m expenditure, staff costs in 2019 amounted to_ _**£2.41m** , i.e., 66%._ _Support services for the consolidated businesses accounted for_ _**£0.41m .**_ _The consolidated accounts for OHE are included as an Annex to this report._ _7_ _The sources of funding for OHE are summarised below. More detail about OHE income and expenditure are provided in the financial reports attached._ ||**_The consolidated income of £3.03m comprises_**_:_|_£000_| |---|---|---| ||_Donations – research grants_|_763.300_| ||_Income from charitable (research) activities_|_574.747_| ||_Interest_|_0.61_| ||_Total research income_|_1.319.01_| ||_OHE Consulting Income_|_2,338.99_| ||**_Total Income_**|_3,658.89_| |||| ||**_Donations are from the ABPI and are for two distinct purposes:_**|_£000_| ||_Support for core research activities_|_350.00_| ||_Grant towards financing of support activities_
**_Total_**|_413.30_
_763.33_| _Income from charitable (research) activities came from several sources. Major research projects and funders included:_ - _Cancer Research UK_ - _Health Foundation, the Cancer Research UK_ - _EuroQol Research Foundation_ _8_ _Figure 1 reflects the OHE governance structure by the end of 2020. At the top of the structure sits the OHE Board of Trustees. The Board is supported by the_ _**Policy Committee** and the_ _**Research Committee** . The purpose of the Policy Committee is to provide advice to OHE on engaging with policymaking and ensuring that OHE meets its Charitable Objects in this respect. OHE's work has been informing health care and pharmaceutical decision-makers and healthcare payers for decades, building its reputation on producing independent, academically strong research. Instead, the Research Committee guides OHE on research methods, oversees the core research grant programme, and ensures the quality and independence of OHE's research output. Thus, this committee ultimately assures the OHE Board of Directors that OHE's research meets its charitable objectives._ _Figure 1: Organigram by the end of 2020_ _9_ T,ist of acron)Tms IrK*JsDy CIS¢T kntKpn PxoFtrTidl CEO EU FIE rIn￿E￿P￿* HTA HTAI ## _**About us**_ _**Founded in 1962 by the Association of the British Pharmaceutical Society, the ffice of ealth conomics ( ) is not only the world’s oldest health economics research group, but also one of the most prestigious and influential.**_ _**OHE provides market-leading insights and in-depth analyses into health economics & health policy. Our pioneering work informs health care and pharmaceutical decision-making across the globe, enabling clients to think differently and to find alternative solutions to the industry’s most complex problems.**_ _**Our mission is to guide and inform the healthcare industry through today’s era of unprecedented change and evolution. We are dedicated to helping policy makers and the pharmaceutical industry make better decisions that ultimately benefit patients, the industry and society as a whole.**_ _OHE. For better healthcare decisions._ ## _**Areas of expertise**_ - _**Evaluation of health care policy**_ - _**The economics of health care systems**_ - _**Health technology assessment (HTA) methodology and approaches**_ - _**’s impact on decision making, health care spending and the delivery of care**_ - _**Pricing and reimbursement for biologics and pharmaceuticals, including valuebased pricing, risk sharing and biosimilars market competition**_ - _**The costs of treating, or failing to treat, specific diseases and conditions**_ - _**Drivers of, and incentives for, the uptake of pharmaceuticals and prescription medicines**_ - _**Competition and incentives for improving the quality and efficiency of health care**_ - _**Incentives, disincentives, regulation and the costs of R&D for pharmaceuticals and innovation in medicine**_ - _**Capturing preferences using patient-reported outcomes measures (PROMs) and time trade-off (TTO) methodology**_ - _**Roles of the private and charity sectors in health care and research**_ - _**Health and health care statistics**_ _11_ ## _**Professor Mireia Jofre-Bonet**_ _OHE Head of Research_ _Honorary Visiting Professor in Economics at City, University of London_ ## _**Professor Graham Cookson**_ _Chief Executive, OHE Honorary Visiting Professor in Economics at City, University of London_ ||_1._||_Introduction ................................................................................................................................................................. 4_|_Introduction ................................................................................................................................................................. 4_| |---|---|---|---|---| ||_2._||_Research Output .......................................................................................................................................................... 4_|| ||||_2.2._|_OHE Publications ............................................................................................................................................. 7_| ||||_2.3._|_OHE events ...................................................................................................................................................... 8_| ||||_2.4._|_External presentations ................................................................................................................................... 10_| ||||_2.5._|_Advisory roles of OHE members of staff ....................................................................................................... 16_| ||||_2.6._|_External impact .............................................................................................................................................. 18_| ||||_2.7._|_Social Media .................................................................................................................................................. 19_| ||_3._||_Theme Updates for 2020 .......................................................................................................................................... 19_|| |||_3.1._||_Value, affordability, and decision making .......................................................................................................... 19_| |||_3.2._||_Economics of innovation ................................................................................................................................... 20_| |||_3.3._||_Policy, organisation, and incentives in health systems ..................................................................................... 21_| |||_3.4._||_Measuring and valuing outcomes ...................................................................................................................... 21_| ||_4._||_Research Funding Calls 2020.................................................................................................................................... 22_|| _3_ _This document summarises OHE's research activity during the year 2020 to supplement the Charity Report of 2020. The first sections provide a detailed report of all the research output. The last sections reflect the activities, challenges and plans of OHE's four research themes: Value, affordability, decision-making, Economics of innovation, Policy, organisation, and incentives in health systems, and Measuring and valuing outcomes._ _4_ |_NO._|_JOURNAL REFERENCE_|_SUPPORTED_
_BY CORE_
_RESEARCH_
_GRANT?_|_NUMBER OF_
_CITATIONS_
_SO FAR_| |---|---|---|---| |_1_|_Fenwick, E.,Steuten, L., Knies, S., Ghabri, S., Basu, A., Murray,_
_J.F., Koffijberg, H.E. Strong, M., Sanders Schmidler, G.D._
_and Rothery, C. 2020. Value of Information Analysis for Research_
_Decisions-An Introduction: Report 1 of the ISPOR Value of_
_Information Analysis Emerging Good Practices Task Force. Value_
_in Health. DOI: 10.1016/j.jval.2020.01.001_|_No_|_31_| |_2_|_Garrison, L., Zamora, B.,Li., M., andTowse, A. 2020. Augmenting_
_Cost-Effectiveness Analysis for Uncertainty: The Implications for_
_Value Assessment—Rationale and Empirical Support. Journal of_
_Managed Care & Specialty Pharmacy. 26(4):400-406._
_DOI:10.18553/jmcp.2020.26.4.400_|_Yes_|_10_| |_3_|_Herdman, M., Kerr, C., Pavesi, M., Garside, J., Lloyd, A.,Cubi-Molla,_
_P. and Devlin, N. 2020. Testing the validity and responsiveness of_
_a new cancer-specific health utility measure (FACT-8D) in_
_relapsed/refractory mantle cell lymphoma, and comparison to_
_EQ-5D-5L. Journal of Patient-Reported Outcomes. 4: 22.DOI:_
_10.1186/s41687-020-0185-3_|_No_|_2_| |_4_|_Hilari, K., Behn, N., Marshall, J., Shirley, S., Northcott, S., Flood,_
_C.,Jofre-Bonet, M., et al. 2020. Adjustment with Aphasia after_
_Stroke: Study Protocol for a Pilot Feasibility Randomised_
_Controlled Trial for Supporting Wellbeing through PEeR_
_Befriending (SUPERB). Pilot and Feasibility_
_Studies .5:14. https://doi.org/10.1186/s40814-019-0397-6._|_No_|_7_| |_5_|_Costa-Font, J. andJofre-Bonet, M.2020. Is the Intergenerational_
_Transmission of Overweight' Gender Assortative'? Economics &_
_Human Biology.39._ _doi: 10.1016/j.ehb.2020.100907100907._|_No_|_3_| |_6_|_Lorgelly, P., Pollard, J.,Cubi-Molla, P., Cole, A., Sim, D. and Sussex,_
_J. 2020. Outcome-Based Payment Schemes: What Outcomes Do_
_Patients with Cancer Value? The Patient-Patient-Centered_
_Outcomes Research. 13, 599–610. doi.org/10.1007/s40271-020-_
_00430-x_|_Yes_|_1_| |_7_|_Mott, D.J., Chami, N. and Tervonen, T. 2020. Reporting Quality of_
_Marginal Rates of Substitution in Discrete Choice Experiments_
_That Elicit Patient Preferences. Value in Health. 23 (8), 979–984._
_doi.org/10.1016/j.jval.2020.04.1831_|_Yes_|_4_| |_8_|_Mott, D.J., Hampson, G., Llewelyn, M.J., Mestre-Ferrandiz, J. and_
_Hopkins, M.M. 2020. Authors' Reply to Hays: 'A Multinational_|_Yes_|_0_| _5_ |_NO._|_JOURNAL REFERENCE_|_SUPPORTED_
_BY CORE_
_RESEARCH_
_GRANT?_|_NUMBER OF_
_CITATIONS_
_SO FAR_| |---|---|---|---| ||_European Study of Patient Preferences for Novel Diagnostics to_
_Manage Antimicrobial Resistance'. Applied Health Economics and_
_Health Policy. doi.org/10.1007/s40258-020-00573-w_||| |_9_|_Rothery, C., Strong, M., Koffijberg, H.E., Basu, A., Ghabri, S.,_
_Knies, S., Murray, J.F., Sanders Schmidler, G.D.,Steuten, L. and_
_Fenwick, E. 2020. Value of Information Analytical Methods: Report_
_2 of the ISPOR Value of Information Analysis Emerging Good_
_Practices Task Force. Value in Health. doi:10.1016/j.jval.2020.01.004._|_No_|_27_| |_10_|_Shaikh, M., Del Giudice, P. andKourouklis, D. 2020. Revisiting the_
_Relationship Between Price Regulation and Pharmaceutical R&D_
_Investment. Applied Health Economics and Health Policy._
_doi.org/10.1007/s40258-020-00601-9_|_No_|_3_| |_11_|_DeVolder, R., Serra-Sastre, V. and Zamora, B. 2020. Examining the_
_variation across acute trusts in patient delayed discharge. Health_
_Policy. doi.org/10.1016/j.healthpol.2020.06.017_|_Yes_|_3_| |_12_|_Chalkidou, K,.Towse, A., Silverman, R.,Garau, M. and_
_Ramakrishnan, G. 2020. Market-driven, value-based, advance_
_commitment (MVAC): accelerating the development of a_
_pathbreaking universal drug regimen to end TB. BMJ Global_
_Health. dx.doi.org/10.1136/bmjgh-2019-002061_|_No_|_4_| |_13_|_Berdud, M., Drummond, M., andTowse, A. 2020. Establishing a_
_reasonable price for an orphan drug. Cost Eff Resour Alloc_
_https://doi.org/10.1186/s12962-020-00223-x_|_Yes_|_5_| |_14_|_Costa-Font, J.,Jofre-Bonet, M. and Legrand, J. 2020 Vertical_
_Transmission of Overweight: Evidence from a sample of English_
_Adoptees, forthcoming Food Policy._
_doi.org/10.1016/j.foodpol.2020.101972_|_No_|_6_| |_15_|_El-Shal, A.,Cubi-Molla, P. andJofre-Bonet, M. 2020. Accreditation_
_as a quality-improving policy tool: family planning, maternal_
_health, and child health in Egypt. The European Journal of Health_
_Economics. DOI:10.1007/s10198-020-01240-6_|_No_|_1_| |_16_|_Serra-Sastre, V., Bianchi, S., Mestre-Ferrandiz, J. andO'Neill, P._
_2020. Does NICE influence the adoption and uptake of generics in_
_the UK? The European Journal of Health Economics. doi_
_10.1007/s10198-020-01245-1_|_No_|_11_| |_17_|_Bogosian, A., Hurt, C.S., Hindle, J.V., McCracken, L.M.,_
_Vasconcelos e Sa, D.A., Axell, S., Tapper, K., Stevens, J., Hirani, S.,_
_Salhab M, Ye W. andCubi-Molla, P. 2021 Acceptability and_
_Feasibility of a Mindfulness Intervention Delivered via_|_No_|_0_| _6_ |_NO._|_JOURNAL REFERENCE_|_SUPPORTED_
_BY CORE_
_RESEARCH_
_GRANT?_|_NUMBER OF_
_CITATIONS_
_SO FAR_| |---|---|---|---| ||_Videoconferencing for People With Parkinson's. Journal of_
_Geriatric Psychiatry and Neurology. First Published 28th January,_
_2021. DOI: 10.1177/0891988720988901_||| |_18_|_Sampson, C., Zhang, K., Parkin, D. andHampson, G. 2021._
_Exclusive human milk diet for very preterm babies in England:_
_protocol for a cost-effectiveness and budget impact analysis._
_F1000Research, 10:21 https://f1000research.com/articles/10-_
_21/v1_|_No_|_0_| |_19_|_Kourouklis, D. 2021. Public subsidies for R&D and public sector_
_pharmaceutical innovation. Applied Economics. DOI:_
_10.1080/00036846.2021.1885614_|_No_|_0_| |_20_|_Costa-Font, J.,Jofre-Bonet, M. and Le Grand, J. 2020. Burden of_
_child and adolescent obesity on health services in England., KR_
_Fontaine, HT Robertson, ...Adoption & Fostering. DOI:_
_10.1136/archdischild-2017-313009_|_No_|_6_| _Note: citations relate from the date of journal article publication to September 2021. Journal references for 2020 papers are updated as previously these were recorded as online early access first in 2020 but are now correctly listed and referenced as they are in 2021._ _Below, we list the number of reports published on the OHE website. These publications are all reviewed by a member of our Editorial Panel before publication. The number of downloads of publications in 2020 was over 1,450, which gives a measure of the impact of OHE's research._ _1. Shah, K.K., Ramos-Goñi, J.M., Kreimeier, S. and_ _**Devlin, N.J.** 2020. Anchoring Latent Scale Values for the EQ-5D-Y at 0 = Dead. OHE Research Paper._ _2._ _**Henderson N., Errea M., Skedgel C.** and_ _**Jofre-Bonet, M .** 2020. Ethical and Economics issues in the Appraisal of Medicines for Ultra-Rare Conditions. OHE Consulting Report._ _3._ _**Cubi-Molla, P., Errea, M., Zhang, K.** and_ _**Garau, M** . 2020. Are Cost-Effectiveness Thresholds fit for Purpose for Real-World Decision Making, OHE Consulting Report._ _4. Hernandez-Villafuerte, K., Shah, K.,_ _**Herdman, M.,** and Lorgelly, P_ _**.** 2020. Meningococcal -_ _Vaccines: An International Comparison of Decision Making Processes, Frameworks and Methodologies. Are Values Missing? OHE Consulting Report._ _5._ _**Cole, A., Towse, A., Zamora, B.** 2020. Indication-Based Pricing (IBP) Consultation Report. OHE Consulting Report._ _6._ _**Zhang, K., Garau, M.** 2020. International Cost- Effectiveness Thresholds and Modifiers for HTA Decision Making. OHE Consulting Report._ _7._ _**Brassel, S. and Cookson, G.** 2020. Delivering the 2.4 Percent: Unlocking UK Pharma R&D Investment through Evidence-Based Policies. OHE Consulting Report._ _7_ _8._ _**Bulut, M., O'Neill, P.** and_ _**Cole, A.** 2020. NICE 'Optimised' Decisions: What is the Recommended Level of Patient Access? OHE Consulting Report._ _9._ _**Berdud. M** ., Ferraro. J. and_ _**Towse. A** . 2020. A Bargaining Approach: A Theory on ICER Pricing and Optimal Level of Cost-Effectiveness Threshold? OHE Consulting Report._ _10._ _**Brassel, S., Neri, M., O'Neill, P** . and_ _**Steuten, L** ., 2020. Realising the Broader Value of Vaccines in the UK. OHE Consulting Report._ _11._ _**Rodes Sanchez, M., Henderson, N.** and_ _**Steuten, L** . 2020. Bridging the Gap: Pathways for Regulatory and Health Technology Assessment of Histology Independent Therapies. OHE Consulting Report._ _12._ _**Brassel, S. and Steuten, L .** 2020. The Broader Value of Vaccines: The Return on Investment From a Governmental Perspective .OHE Consulting Report_ _13._ _**Bell, E., Neri, M., Steuten, L.** The Brave Initiative. The Brave Narrative for Broad Recognition Of Value In Vaccines Engagement_ _**.** OHE Research Paper._ _14._ _**Pearson, S., Lowe, M., Towse, A., K., Segel, C. 2020.** Cornerstones of "Fair" Drug Coverage: Appropriate Cost - Sharing and Utilization Management Policies for Pharmaceuticals_ _**OHE** Research Paper_ _**.**_ _15._ _**Errea, M., Skedgel, C., Zamora, B., G, Hampson., R, Althin., Hofmarcher, T., Lindgren, P., and Cookson, G.** Opportunities to Increase Efficiency in Healthcare OHE Consulting Report_ _16._ _**McKenna, I.** How do we Measure the "Value" in Value-Based care? OHE Seminar Briefing_ _17._ _**Sampson, C., Parkin, D. and Devlin, N.** Drop Dead: Is Anchoring at 'Dead' a Theoretical Requirement in Health State Valuation?_ _**OHE Research Paper.**_ _OHE runs a lunchtime seminars series, a more informal brown-bag lunch seminar series, specialised webinars and roundtables, and an annual lecture. This section provides an update on all four during the year 2020._ ## _**OHE LUNCHTIME SEMINARS**_ _The lead for the lunchtime seminar programme is now Bernarda Zamora, who took over from Mikel Berdud._ _In the early months of 2020, the OHE held a lunchtime seminar, the programme being subsequently interrupted by the COVID-19 lockdown. We hope to hold a lunchtime seminar in the last quarter of 2020._ ## _**1. Personalised medicine: is it an oil-rush or oil-spill?**_ _Event date: Monday, 3rd February 2020_ _Presenter: Professor Alistair McGuire, London School of Economics._ ## _**2. The Challenges of De-Adoption of Low-Value Surgical Procedures in the NHS**_ _Event Date: 8th December 2020_ _Presenter: Will Hollingworth, University of Bristol_ _8_ _The English National Health Service (NHS) is under intense pressure following a decade of austerity and the challenges of caring for a growing and ageing population. During this period, elective surgery activity has increased substantially. Evidence suggests that some surgical procedures which have become embedded in clinical practice are of 'low value'. 'Low-value' care refers to healthcare with risks or costs that outweigh its benefits, comprising care that is harmful, ineffective, or not cost-effective. Stopping or reducing (i.e., de-adoption) such surgical procedures is essential for the long-term sustainability of NHS care._ ## _**BROWN-BAG SEMINARS**_ _Much like the lunchtime seminar programme, the brown bag programme has also been affected by COVID-19._ _1. Thursday, 27[th] January 2020: Nasuh Buyukkaramikli presented the session titled: "A MEA is a MEA is a MEA"_ _2. Monday, 4[th] March 2020: Toni Mora gave a talk on his work on "Risky Behaviours Amongst Catalan Children With ADHD"_ _3. Wednesday, 12[th] February 2020: Paul Batcheler presented HE Dentistry to the Office of Health Economics_ ## _**WEBINARS AND ROUNDTABLES**_ _1. Date: 26[th] May 2020: Amanda Cole / Lotte Steuten / Adrian Towse presented the_ _**OHE Cures Webinar ,** exploring more effective ways to provide access to the most needed treatments. Presenters also discussed the financial sustainability of the healthcare system whilst increasing access to cutting-edge therapies and fuelling greater innovation._ _2. Date: 28[th] – 29[th] May 2020: Lotte Steuten / Eleanor Bell / Margherita Neri hosted a_ _**Roundtable** even as part of the BRAVE Initiative. Guidelines from authoritative academic groups such as the WHO and ISPOR Good Practices for Outcomes Research Task Force have argued that vaccinations generate substantial health and economic externalities. While evidence of these externalities is increasingly collected for vaccinations undergoing HTA, there is ongoing debate about whether and how to incorporate this in value assessment processes. The aim of the roundtable is to initiate the development of practical approaches which can increase recognition of the broader value of vaccines in the short-and medium-term._ _3. Date: 21[st] July 2020: Adrian Towse presented the_ _**Price Transparency Webinar** . Adrian discussed the economics, politics, and public policy of international drug pricing, focusing on the importance of confidential net pricing as well as opposing views. Within the presentation, he discussed rising healthcare costs, fuelled by a changing political perspective on drug pricing regulation and negotiation in many countries, most notably in the US; and the issue of price transparency and the existential threat it may pose to innovation in life sciences._ _4. Date: 17[th] September 2020: Simon Brassel, Margherita Neri and Lotte Steuten presented the_ _**Webinar** titled:_ _**Assessing the productivity value of Vaccines in HTA: Worth a Shot?** The webinar discussed the potential impact of not considering productivity costs in the evaluation of vaccination programmes in the UK. Presenters argue that excluding productivity value from current value assessment methods can lead to the undervaluation of immunisation programmes. In the long-term, this may have negative consequences on R&D incentives for vaccines and their inclusion in national immunisation programmes, with detrimental effects on the UK's population health and economic performance as a consequence._ _9_ _5. Date: 20[th] October 2020: Eleanor Bell, Simon Brassel and Patricia Cubi-Molla presented at the OHE training course on digital health technologies for Oxford AHSN on the paper "_ _**Health Economics for Digital Health Technologies, Devices and Diagnostics"** by Eleanor bell, Simon Brassel, Patricia Cubi-Molla, Adrian Towse and Chris Sampson. Research Themes: Value, Affordability, and Decision Making, Measuring and Valuing Outcomes_ _6._ _**Date: 10[th] December 2020: OHE's end of the year webinar** In the OHE's final webinar Martina Garau, Lotte Steuten, Graham Cookson, Adrian Towse, Mireia Jofre-Bonet and Chris Skedgel wrapped up the main research subjects in 2020 and discussed predictions for 2021. Key topics considered were "Beyond Covid-19 Vaccine", "Improving Health System Efficiency" and "Price Transparency", "Licensing, Procurement and Distribution of COVID's vaccine"; "The impact of Brexit", "Resilience of Healthcare systems", and "the new US presidency"._ ## _**OHE ANNUAL LECTURE 2020**_ _The 2020 Annual Lecture "How should the World pay for a COVID-19 Vaccine?" was given by Professor Adrian Towse, Director Emeritus of the Office of Health Economics. The 2020 Annual Lecture - presented virtually due to COVID-19 - reflected on the scientific and commercial challenges such as development timelines, uncertainty in anticipated demand as well as financial risks faced by companies with substantial investments. Professor Towse set out the options for funding development and manufacture for vaccines and their strengths and weaknesses, including what is likely to happen if there is no regional or global collaboration on the way forward. He also put this in the context of the work of The Vaccine Alliance (Gavi) and others to build a sustainable vaccine market that can deliver for the populations of the world over time. About 300 registered to the virtual conference, and the actual attendance was over 200._ |_No._|_Details_| |---|---| |_1_|_Date: 6-8th January 2020_
_Presenter: David Mott_
_Event:_**_Health Economists' Study Group (HESG) Meeting: Winter 2020_**
_Location: Newcastle upon Tyne, UK_
_Presentation: Paper discussed by Katherine Carr: "Uncertainty in patient trade-offs: issues in_
_the reporting of marginal rates of substitution in discrete choice experiments" by Mott et al._
_Research Theme(s): Measuring and valuing outcomes_| |_2_|_Date: 6-8th January 2020_
_Presenter: David Mott_
_Event:_**_Health Economists' Study Group (HESG) Meeting: Winter 2020_**
_Location: Newcastle upon Tyne, UK_
_Presentation: Paper discussed by David Mott: "Empirical comparison of capability instruments_
_in mental health research: OxCAP-MH vs. ICECAP-A in schizophrenic patients with depression"_
_by Helter et al._
_Research Theme(s): Measuring and valuing outcomes_| |_3_|_Date: 6-8th January 2020_
_Presenter: Mireia Jofre-Bonet_
_Event:_**_Health Economists' Study Group (HESG) Meeting: Winter 2020_**
_Location: Newcastle Upon Tyne, UK_
_Presentation: Paper discussed by Mireia Jofre-Bonet: "The Impact of Hosting a Major_
_International Sporting Event on Health and Health-related Behaviour"_
_Research Theme(s): Value, affordability, and decision making_| _10_ |_No._|_Details_| |---|---| |_4_|_Date: 5th February 2020_
_Presenter: Bernarda Zamora_
_Event:_**_International Centre for Parliamentary Studies_**
_Location: London, UK_
_Presentation: Course on Strategic Health Planning Health Financing_
_Lecture on health financing strategies and monitoring of Universal Health Coverage_
_Research Theme(s): Value, affordability, and decision making;_| |_5_|_Date: 14th February 2020_
_Presenter: Simon Brassel_
_Event:_**_Career Day at City, University of London_**
_Location: London, UK_
_Presentation: Placement opportunities at the OHE in 2020 .Simon presented the OHE and our_
_placement opportunities to the current MSc cohort at City._
_Research Theme(s): All_| |_6_|_Date: 26th March 2020_
_Presenter: Lotte Steuten (Mehmet Bulut prepared recorded lecture)_
_Event:_**_Lecture to MSc in Economic Evaluation in Healthcare and the MSc in Health Economics_**
**_of City, University of London_**
_Location: Virtual_
_Presentation: The Market Medicines – from R&D to pricing issues_
_Research Theme(s): Economics of Innovation_| |_7_|_Date: 13th May 2020_
_Presenter: Martina Garau_
_Event:_**_Alternative Approaches to Innovative Drug Pricing_**
_Location: Virtual_
_Presentation: Merits and shortfall of decision-making rules for medicines adoption: Learnings_
_from current practice_
_Research Theme(s): Judging Value for Money and Improving Decision Making_| |_8_|_Date: 14th May 2020_
_Presenter: Chris Sampson_
_Event:_**_Boehringer Ingelheim Global HEOR & Access team meeting_**
_Location: Virtual_
_Presentation: EQ-5D-5L bolt-ons for cognition and vision: development and testing_
_Research Theme(s): Measuring and valuing outcomes_| |_9_|_Date: 30th June 2020_
_Presenter: Bernarda Zamora_
_Event:_**_Bridging Conference European Alliance for Personalised Medicine_**
_Location: Virtual_
_Presentation: Maintaining Public Trust in use of Digital Health for health Science in a COVID 19_
_and Post COVID 19 World_
_Research Theme(s): Policy, organisation, and incentives in health systems_| |_10_|_Date: 17th - 23rd July 2020_
_Presenter: David Mott_
_Event:_**_European Association of Urology 2020 Annual Congress_**
_Location: Virtual_
_Presentation: Pain outcomes in patients with metastatic castration-resistant prostate cancer_
_receiving enzalutamide in a real-world setting: PREMISE_
_Research Theme(s): Measuring Value and Outcomes_| |_11_|_Date: 7th August 2020_
_Presenter: Adrian Towse_
_Event: _**_ICER Colloquium Series, Pricing in a Pandemic, Session Three: Monetary Prizes,_**
**_Compulsory Licensing, Advanced Market Commitments_**
_Location: Virtual_| _11_ |_No._|_Details_| |---|---| ||_Presentation: The Role for Advance Market Commitments_
_Research Theme(s): Economics of Innovation Value, Affordability, and Decision Making_| |_12_|_Date: 4th September 2020_
_Presenter: Adrian Towse_
_Event:_**_Social Outcomes Conference organised by The Government Outcomes_**
**_Lab, Blavatnik School of Government, University of Oxford_**
_Location: Virtual_
_Presentation: Pricing 'value': where to draw a line between incentive alignment and_
_commoditisation?_
_Research Theme(s): Value, Affordability, and Decision Making_
_Policy, Organisation and Incentives in Health Systems_| |_13_|_Date: 23rd September 2020_
_Presenter: David Mott_
_Event:_**_EuroQol Descriptive Systems Working Group meeting_**
_Location: Virtual_
_Presentation: Paper discussed by David Mott: "Is there a case for adding cancer treatment-_
_related symptoms bolt-on items to the EQ-5D?" by Bennett et al._
_Research Theme(s): Measuring value and outcomes_| |_14_|_Date: 23rd September 2020_
_Presenter: Chris Sampson_
_Event:_**_EuroQol Descriptive System Working Group meeting_**
_Location: Virtual_
_Presentation: Paper discussed by Yaling Yang: "Candidate bolt-ons for cognition and vision:_
_qualitative findings from a development programme"_
_Research Theme(s): Measuring and valuing outcomes_| |_15_|_Date: 24th September 2020_
_Presenter: Chris Sampson_
_Event:_**_ISPOR Educational Webinar_**
_Location: Virtual_
_Presentation: Open Source Models in HEOR: Benefits, Challenges, and ISPOR Members'_
_Perceptions_
_Research Theme(s): Value, Affordability, and Decision-Making_| |_16_|_Date: 29th September 2020_
_Presenter: Chris Sampson_
_Event:_**_Spreading digital innovation in the NHS - a Sleepio case study_**
_Location: Virtual_
_Presentation: This webinar was to support the dissemination of findings from our evaluation_
_of Sleepio. It was aimed at researchers, commissioners, and innovators in the UK with an_
_interest in digital health._
_Research Theme(s): Value, Affordability, and Decision-Making_| |_17_|_Date: 8th October 2020_
_Presenter: Graham Cookson_
_Event_**_: EuHEA 2020 Seminar Series_**
_Location: Virtual_
_Presentation: Labour Productivity and Skill Mix in Maternity Services: Evidence from the English_
_NHS_
_Research Theme(s): Incentivising Quality_| |_18_|_Date:16th October 2020_
_Presenter: Adrian Towse_
_Event:_**_Virtual Forum on Combating Antimicrobial Resistance in Taiwan organised by The_**
**_Business Council for International Understanding (BCIU)_**
_Location: Virtual Event_| _12_ |_No._|_Details_| |---|---| ||_Presentation: New approaches to antibiotic reimbursement to support access to novel_
_antibiotics_
_Research Theme(s): Value, Affordability, and Decision Making, Economics of Innovation_| |_19_|_Date: 17th October 2020_
_Presenter: Adrian Towse_
_Event_**_: Virtual Forum on Combating Antimicrobial Resistance in Vietnam organised by The_**
**_Business Council for International Understanding (BCIU)_**
_Location: Virtual Event_
_Presentation: New approaches to antibiotic reimbursement to support access to novel_
_antibiotics_
_Research Theme(s): Value, Affordability, and Decision Making, Economics of Innovation_| |_20_|_Date: 20th October 2020_
_Presenter: Eleanor Bell, Simon Brassel, Patricia Cubi Molla_
_Event:_**_Training course on digital health technologies for Oxford AHSN_**
_Location: Virtual_
_Presentation: One day training course: Health Economics for Digital Health Technologies,_
_Devices and Diagnostics_
_Authors: Eleanor bell, Simon Brassel, Patricia Cubi-Molla, Adrian Towse, Chris Sampson_
_Research Theme(s): Value, Affordability, and Decision Making, Measuring and Valuing_
_Outcomes_| |_21_|_Date: 22nd October 2020_
_Presenter: Lotte Steuten_
_Event:_**_ISOQOL Virtual Annual Conference | Value-based Healthcare Plenary "Live"_**
_Location: Virtual Presentation_
_Presentation: "It's not about the money, money, money": Or is it? The future of value-based_
_healthcare and outcome-based pricing._
_Authors: Lotte Steuten_
_Research Theme(s): Measuring and Valuing Outcomes, Value, Affordability, and Decision_
_Making, Policy, Organisation and Incentives in Health Systems_| |_22_|_Date: 26th October 2020_
_Presenter: Grace Hampson_
_Event_**_: Gene Therapies for Rare Disorders Europe Conference_**
_Location: Virtual Presentation_
_Presentation: Value assessment of Gene Therapies_
_Authors: Grace Hampson_
_Research Theme(s): Value, Affordability, and Decision Making_| |_23._|_Date: 28th October 2020_
_Presenter: Mireia Jofre-Bonet_
_Event:_**_Expert Programme on Health Policy and Health Economics_**
_Location: Virtual_
_Presentation: British perspective on the evolution of the pharmaceutical sector_
_This Expert Programme is organised yearly by the Universitat Pompeu Fabra – CRES to_
_discuss specific health policy and health economics questions. That year’s title was 'How_
_analysis can help decision making'. The annual series receives funding from Novartis._
_Research Theme(s): Policy, Organisation and Incentives in Health Systems_| |_24_|_Date: 2nd November 2020_
_Presenter: Chris Skedgel_
_Event:_**_ISPOR Europe 2020_**
_Location: Virtual_| _13_ |_No._|_Details_| |---|---| ||_Presentation: A longer life or a quality death? A DCE to estimate the relative importance of_
_different aspects of end-of-life care_
_Authors: C Skedgel, A Robinson_
_Research Theme(s): Measuring and Valuing Outcomes_| |_25_|_Date: 11th November 2020_
_Presenter: Chris Skedgel_
_Event:_**_ISPOR European Congress Location:_**
_Location: Virtual Presentation_
_Presentation: A longer life or a quality death? A DCE to estimate the relative importance of_
_different aspects of end-of-life care_
_Authors: Chris Skedgel, Angela Robinson (UEA)_
_Research Theme(s): Measuring and Valuing Outcomes_| |_26_|_Date: 12th November 2020_
_Presenter: Adrian Towse_
_Event:_**_ISPOR and the Innovation and Value Initiative_**_(IVI) Fifth webinar in the series Value_
_Assessment in the Age of COVID-19: Meeting the Challenges_
_Location: Virtual_
_Presentation: Using VA/HTA in Pursuing Innovation and Access in a Pandemic_
_Authors: Adrian Towse_
_Research Theme(s): "Economics of Innovation", "Value, Affordability, and Decision Making"_| |_27_|_Date: 13th November 2020_
_Presenter: Mikel Berdud_
_Event:_**_Virtual ISPOR Europe 2020_**
_Location: Virtual Presentation_
_Presentation: Issue Panel presentation: Value-Based Pricing and Market Allocative Efficiency:_
_How Should Cost-Effectiveness Thresholds be Set to "Optimally" Distribute Value between_
_Payers and Developers? In the session the panel discussed the implications of setting CETs for_
_value distribution between payers (consumers) and developers (producers). They debated how_
_CETs should be determined and Nancy Devlin introduced the issue and moderated the panel,_
_ensuring debate and audience participation._
_Presentation: A theory on ICER pricing and optimal level of cost-effectiveness thresholds_
_Authors: Mikel Berdud, Jimena Ferraro, Adrian Towse_
_Research Theme(s): “Economics of Innovation", "Value, Affordability, and Decision Making",_
_"Policy, Organisation and Incentives in Health Systems"_| |_28_|_Date: 13th November 2020_
_Presenter: Mikel Berdud_
_Event:_**_Virtual ISPOR Europe 2020_**
_Location: Virtual Presentation_
_Presentation: A theory on ICER pricing and optimal level of cost-effectiveness thresholds_
_Authors: Mikel Berdud, Jimena Ferraro, Adrian Towse_
_Research Theme(s): “Economics of Innovation", "Value, Affordability, and Decision Making",_
_"Policy, Organisation and Incentives in Health Systems"_| |_29_|_Date 16th November 2020_
_Presenter Bernarda Zamora_
_Event:_**_The Value of Diagnostic Information in Heart Failure_**
_Location: virtual_
_Presentation: A Virtual Panel Discussion with Experts Across Europe_
_Research Theme(s): "Economics of Innovation", "Value, Affordability, and Decision Making"_| |_30_|_Date: 16-19th November 2020, pre-recorded session, available on demand_
_Presenter: Marina Rodes Sanchez_
_Event:_**_ISPOR Europe 2020_**| _14_ |_No._|_Details_| |---|---| ||_Location: Online Presentation_
_Presentation: Adaptive Pathways for Tumour Agnostic Medicines in Various Developed_
_Markets_
_Authors: Marina Rodes Sanchez, Lotte Stueten and Nadine Henderson_
_Research Theme(s): "Value, Affordability, and Decision Making"_| |_31_|_Date: 16-19th November 2020_
_Presenter: David Mott_
_Event:_**_ISPOR Europe 2020_**
_Location: Virtual_
_Presentation: Impact of Including Caregiver Information in Time Trade-Off Tasks- Results from_
_a Pilot Study Note: this was a poster presentation_
_Authors: Mott DJ, Scheuer N, Leslie I, Shah K, Rowell J_
_Research Theme(s): Measuring and Valuing Outcomes_| |_32_|_Date: 18th November 2020_
_Presenter: Lotte Steuten_
**_Event: ISPOR Europe_**
_Location: Virtual_
_Presentation: Virtual Bridging the Gap: Pathways for Regulatory and Health Technology_
_Assessment of Histology Independent Therapies_
_Authors: Marina Rodes-Sanchez, Nadine Henderson, Lotte Steuten_
_Research Theme(s): "Value, Affordability, and Decision Making"_| |_33_|_Date: 18th November 2020_
_Presenter: Adrian Towse_
_Event:_**_Virtual ISPOR Asia_**
_Location: Virtual event_
_Presentation: PBRSAs: Theory and Incentive. ISPOR Short Course on Performance Based Risk_
_Sharing Arrangement.Research Theme(s): Value, Affordability, and Decision Making,_
_Economics of Innovation_| |_34_|_Date: 18th November 2020_
_Presenter: Graham Cookson_
_Event:_**_World Economic Forum Virtual event_**
_Location: Online_
_Presentation: Graham joined a forum discussion on the subject of Health systems resilience in_
_a pandemic crisis._
_Research Theme(s): Measuring and Valuing Outcomes ","Policy, Organisation and Incentives in_
_Health Systems", "Economics of Innovation_| |_35_|_Date: 19th November 2020_
_Presenter: Patricia Cubi-Molla_
_Event:_**_Invited Lecture for the module "Introduction to Economic Evaluation in Health Care", for_**
**_MSc Health Economics and MSc Economic Evaluation in Health Care, at City, University of_**
**_London_**
_Location: Virtual_
_Presentation: Health valuations, age, and experience_
_Authors: Patricia Cubi-Molla_
_Research Theme(s): Measuring and Valuing Outcomes_| |_36_|_Date: 19th November 2020_
_Presenter: Adrian Towse_
_Event:_**_ISPOR SA Chapter Virtual Conference 2020, Webinar 3: Alternative Reimbursement_**
_Location: Virtual_
_Presentation: Pricing: Alternatives to a Transparent Single List Price_
_Authors: Adrian Towse_| _15_ |_No._|_Details_| |---|---| ||_Research Theme(s): "Economics of Innovation", "Value, Affordability, and Decision Making"_| |_37_|_Date: 23rd November 2020_
_Presenter: Patricia Cubi-Molla_
_Event:_**_Invited speaker as part of the "Patient-Reported Outcomes for Better Care, Better_**
**_Research" HDRUK-TMRP Workshop_**
_Location: Virtual_
_Presentation: Using ePROMs in Outcome-based payment schemes: are we there yet?_
_Authors: Patricia Cubi-Molla_
_Research Theme(s): Measuring and Valuing Outcomes_| |_38_|_Date: 26th November 2020_
_Presenter: Simon Brassel_
_Event:_**_LSE Alumni Event Virtual Meeting "Meet the Alumni"_**
_Location: Online_
_Presentation: about the OHE_
_Research Theme(s): NA_| |_39_|_Date: 27th November 2020_
_Presenter: Mikel Berdud_
_Event:_**_Webinar: Descifrando la vacuna de la COVID-_**
**_19: Retos de acceso, ensayos clínicos, producción y distribución_**
_Location: Virtual_
_Presentation: Factores clave sobre como adquirir, pagar, distribuir y utilizar las vacunas para la_
_COVID-19: una perspectiva europea_
_Authors: Mikel Berdud, Mireia Jofre-Bonet, Marina Rodes-Sánchez_
_Research Theme(s): "Economics of Innovation", "Value, Affordability, and Decision Making",_
_"Policy, Organisation and Incentives in Health Systems"_| |_40._|_Date: 30th November 2020_
_Presenter: Mireia Jofre-Bonet_
_Event:_**_Health Policy Series – University of Bath_**
_Location: Online_
_Presentation: 'Health policy research fronts open by COVID-19: Some of the current projects at_
_the Office in Health Economics'. This was an invited public lecture for the Health Policy Series_
_organised by the Institute for Policy Research (IPR) and the Department of Economics of the_
_University of Bath._
_Research Theme(s): Policy, Organisation and Incentives in Health Systems_| |_41_|_Date: 30th November 2020_
_Presenter: Mireia Jofre-Bonet_
_Event:_**_Seminar Series in the Institute for Policy Research - University of Bath_**
_Location: Online_
_Presentation: The fronts open by COVID-19: Current health policy projects at the OHE_
_Research Theme(s): "Measuring and Valuing Outcomes ","Economics of Innovation", "Value,_
_Affordability, and Decision Making", "Policy, Organisation and Incentives in Health Systems"_| _The number of advisory roles of OHE staff members has continued to grow, reflecting the excellent standing of OHE members in terms of impacting policy and our recognised contribution to the broader research and policy community. Having impact and helping steer health policy and decision making in health economics is an essential OHE charitable object._ _16_ ## _**OHE staff membership of advisory panels, boards and committees**_ _1. NICE: Public Health Guidelines Standing Committee – Grace Hampson_ _2. NICE: Member of the Expert Advisers Panel for the Centre for Guidelines – Mireia JofreBonet_ _3. UKRI/ESRC/MRC – Peer Review College – Mireia Jofre-Bonet_ _4. ISPOR: Member of the 'Value of Information' Task Force – Lotte Steuten_ _5. NIHR: Steering Committee Member for NIHR/HS&DR Project No. 8/17/1934 – Graham Cookson_ _6. NIHR – Member of a Study Steering Committee for the LOGiC – Long term Outcomes for Gender Identity in Children Study – funded by NIHR. Sites: Tavistock and Portman-NHS; UCL; U. Liverpool, U. Cambridge, UCLH – Mireia Jofre-Bonet_ _7. NIHR – Member of a Study Steering Committee for ADVANCE - National Addiction Centre Institute of Psychiatry, Psychology and Neuroscience - King's College London – Mireia Jofre-Bonet_ _8. NIHR - Member of a Study Steering Committee for the Supporting Wellbeing Through PEeR-Befriending (SUPERB) Trial – City, University of London, and UCLH, Kings College – Mireia Jofre-Bonet_ _9. Health Foundation – Member of the Steering Committee for NHS Workforce Retention Project – Graham Cookson_ _10. Member of the Steering Group of the Early Diagnosis Research Alliance – Bernarda Zamora 11. Scientific Experts and Methodologists Group (SEM) Delphi Panel Member of the IMPACTHTA (WP7) project "Improved methods and actionable tools for enhancing HTA" – Martina Garau_ _12. Convenor of the Health Economics, Heads of Unit, UK – jointly with Joanne Coast, Mireia Jofre-Bonet_ _13. Editorial Board Member, Applied Health Economics and Health Policy Journal – Lotte Steuten_ _14. Pharmacoeconomics: Editorial Board Member – Chris Skedgel_ _15. Pharmacoeconomics – Open: Editorial Board Member – Chris Sampson_ _16. Member ISPOR Finance Committee – Adrian Towse_ _17. Chair ISPOR Governance Committee – Adrian Towse_ _18. Member ISPOR Health Science Policy Committee – Adrian Towse_ _19. Member ISPOR Nominations Committee – Adrian Towse_ _20. Senior Visiting Fellow, Health Economics Research Centre, Nuffield Department of Population Health, University of Oxford – Adrian Towse_ _21. Participant in the Efficient and Effective Reduction of Health Inequality Workshop #2, Centre for Health Economics, University of York, which was held via Zoom on Tuesday 10th November 2020 – Mireia Jofre-Bonet_ _22. Honorary Senior Researcher, Department of Economics, City, University of London – Patricia Cubi-Molla_ _23. Member of EuroQol Group Association – David Mott_ ## _**Research interest groups**_ _1. ISPOR: Statistical Methods in Health Economics and Outcomes Research Special Interest Group Member – Graham Cookson_ _2. ISPOR: Oncology Special Interest Group Member – Graham Cookson_ _3. ISPOR: Rare Disease Special Interest Group Member – Graham Cookson_ _4. ISPOR: Health Preference Research Group Member – David Mott_ _5. iHEA: Special interest group on the economics of obesity – Grace Hampson_ _6. iHEA: Member of the 'health systems' efficiency' interest group – Margherita Neri_ _7. EvaluAES (supported by the Spanish Health Economic Association): member of special interest group on the evaluation of health policies and health care services – Patricia Cubí-Mollá_ _17_ _8. EvaluAES (supported by the Spanish Health Economic Association): Member of special interest group on the evaluation of health policies and health care services – Maria Errea_ _9. UK Pharmacogenetics & Stratified Medicine Network: Member – Bernarda Zamora_ ## _**Visiting positions for OHE staff**_ _1. London School of Economics – Visiting Professor – Adrian Towse_ _2. Nuffield Department of Population Health, University of Oxford – Senior Visiting Fellow – Adrian Towse_ _3. Oxford University Hospitals NHS Trust – Honorary Health Economist – Amanda Cole_ _4. Oxford University Hospitals NHS Trust – Honorary Health Economist – Chris Sampson 5. Public University of Navarra – Visiting Researcher – Mikel Berdud_ _6. University of Surrey – Visiting Professor – Graham Cookson_ _7. Science Policy Research Unit, University of Sussex – Associate Faculty Member – Grace Hampson_ _8. City, University of London – Honorary Visiting Professor – Lotte Steuten_ _9. City, University of London – Honorary Visiting Professor – Graham Cookson_ _10. City, University of London – Professor, Department of Economics – Mireia Jofre-Bonet_ _11. City, University of London – Honorary Senior Research Fellow– Patricia Cubí-Mollá_ _12. Fred Hutch Cancer Research Center, University of Washington – Affiliate Investigator – Lotte Steuten_ _13. University of East Anglia – Honorary Senior Fellow – Chris Skedgel_ _14. Consulting firm – on behalf of a global healthcare client developing a molecule for use in rare diseases – to provide strategic advice regarding pricing strategy and the role of additional evidence – Amanda Cole_ _15. Chair-Elect, ISPOR Special Interest Group on Open Source Models – Chris Sampson_ _16. IMF - External Expert – Bernarda Zamora_ _17. PhD committee member. Student: Zuzana Spacirova; PhD supervisor: David Mark Epstein; University: University of Granada; Date: 22nd May 2020. Patricia Cubi-Molla_ _18. UK Pharmacogenetics & Stratified Medicine Network: Member – Bernarda Zamora_ _Throughout 2020 OHE's work has continued to have a remarkable impact, and this continued into 2021. Below, we list a sample of those we have a detailed record of:_ - _OHE's research work has been cited frequently in reports produced by NICE as part of its ongoing methods review. Whilst these reports are confidential, they will inform the consultation and the proposed changes._ - _The OHE Consulting Report 'Barriers to uptake of Minimal Access Surgery in the United Kingdom' was cited by media outlets such as Business Weekly, Dotmed, Cambridge Independent and Globe newswire._ - _The OHE Consulting Report 'Public Health and Economic Implications of the United Kingdom exiting the EU and the Single Market' was referenced in a Brain Tumour Charity Article._ - _The OHE Consulting Report 'Delivering the 2.4 per cent: Unlocking UK Pharma R&D investment through Evidence-Based Policies' was quoted by National Health Executive in its web article._ - _The OHE report by Amanda Cole and Adrian Towse 'Legal barriers to the better use of health data to deliver pharmaceutical innovation ' was heavily cited in a consultation by the European Medicines Agency (EMA): 'The GDPR: Secondary use of data for medicines and public health purposes. Discussion Paper for medicines developers., data providers, research-performing and research-supporting infrastructures'. The report was also featured in a news article by GlobalData alongside an interview with Amanda Cole._ - _The OHE Consulting Report 'Obstructive Sleep Apnoea: Health Economics Report' received a mention in an article by Bulletin Line and PR Newswire._ _18_ - _OHE's Economic Evaluation of Sleepio was mentioned in articles by West Midlands AHSN, Oxford AHSN and HSJ._ - _OHE was included in Financial Times Annual Leading Management Consultants list for 2020 within the Healthcare and Life Sciences category. OHE is mentioned in this prestigious list alongside 29 other consultancies._ - _OHE Research report 'Comparing access to orphan medicinal products in Europe' was referenced in a Journal Article titled 'Assessing the preferences for criteria in multi-criteria decision analysis in treatments for rare diseases' and published by Public Health Journal._ - _OHE Research Paper 'The value of International Volunteers' experience to the NHS' was referenced in a Journal Article published by Business, Theory and Practice Journal, titled 'The impact of emotional intelligence and intercultural competence on work productivity of volunteers in respect to age and length in volunteering._ - _In the Office of Health Economics Director Chris Skedgel's most recent podcast they asked him the question, "can a shared understanding of unmet medical needs support innovation?" which he discussed in 19 Conversations in the EFPIA Podcast Series_ - _The OHE's Research Paper, 'Resource Allocation In Public Sector Programmes: Does The Value Of A Life Differ Between Governmental Departments? ' was referenced in February 2021 by the King's Fund in their "Health Management and Policy Alert"._ _We continued to have substantial activity on social media throughout 2020 to date. In summary, we published 28 regular blogs online and achieved the following social media presence:_ - _Number of Publication downloads:_ _**14824**_ - _Number of Website visits/sessions:_ _**151417**_ - _LinkedIn Followers: 5410_ - _Twitter followers: 4916_ _In this section, we present summaries of the achievements in 2020._ ## _**THEME UPDATES**_ - _In November, we secured a_ _**large consulting project** on the societal value of cures, led by Martina Garau._ - _We have maintained our position as a leading voice in research on cost-effectiveness thresholds and allocative efficiency. Mikel Berdud was recently invited to join a meeting to discuss approaches to identifying a cost-effectiveness_ _**threshold for Canada** , hosted by the Institute of Health Economics._ - _Our work on the broader value of vaccines in the UK has achieved good exposure following the publication of an_ _**OHE Consulting Report** funded by the ABPI._ - _We have conducted effective dissemination and engagement activities despite pandemic restrictions, including_ _**blog posts** on value frameworks for combination treatments and the_ _19_ _NICE methods review consultation. We hosted a_ _**webinar** delivered by Will Hollingworth on the de-adoption of low-value procedures and we led an educational session at_ _**ISPOR Europe** on tumour agnostic therapies._ _Theme lead: Mikel Berdud_ ## _**UPDATE ON 2020**_ _In February, we held the first quarterly meeting of the Economics of Innovation for 2021. The discussion went around the current position and challenges of the theme and the theme aims and goals for 2021. The theme research activity during 2020 was summarised as follows:_ - _The theme produced a long list of OHE publications during 2020 on a wide variety of relevant topics, including transparency of costs and price, value-based health care and innovation, COVID-19 relevant innovation, orphan drugs pricing, and competition, Intellectual Property Rights (IPR) and innovation among others._ - _The theme's achievement in external publications was also remarkable publishing research articles in areas such as price regulations and pharmaceutical R&D, orphan drug pricing, pull incentives for R&D in the form of market-driven value-based advance commitments or_ _**innovative payment models .**_ - _Blog posting activity (OHE) has also produced many entries in topics such as value-based pricing and market allocative efficiency, innovative pricing proposals for orphan drugs, payment models and incentives for COVID-19 related innovation, indication-based pricing, price transparency or new funding models for AMR, among others._ - _Presentations delivered have also been a satisfactory number and a good indicator of the relevant research and policy areas. Even in pandemic times, the OHE team has managed to present on its outputs and areas of expertise at various virtual events. These include presentations in conferences (e.g., ISPOR), the OHE annual lecture, universities (e.g., University of London) or other international institutions and forums (e.g., ICER, CGD, renew Europe). The presentations have focused on issues such as price transparency, payment models for COVID-19 vaccines, AMR, optimal level of cost-effectiveness thresholds, and pricing or pull incentives in pandemic times._ - _The project pipeline reflects what the current demand is asking the OHE to produce. Out of the 12 potentials, 10 are consulting projects for private sector clients and only one is an ongoing funded research proposal. Consulting pipeline projects also make up 97% of all risk-adjusted funding. The size of projects is on average appropriate, being >£100k._ - _The project portfolio confirms this bias towards consulting work. From all ongoing work, 9 out of 14 projects are consulting, and in terms of funding, they make up 100% of total funding sources. There is no live externally funded research project, and there are five projects funded with the core research grant. The average size of projects (£106k) is also appropriate._ - _We grade the theme's performance as satisfactory, despite recognising that some challenges will help define the 2021 objectives and guide the strategy. When reflecting on challenges and aims for 2021, we come up with the following conclusions:_ _20_ - _The theme is responding to the demand when producing research outputs. This is reflected in the topics that are being researched e.g., price transparency, COVID19 and innovation, indication-based pricing, optimal cost-effectiveness thresholds and ICER-pricing._ - _To balance all the above, we need to follow the advice of Research Committee in 2020 on the need to start research programmes in areas of high relevance (but not of high interest of the private funders) such as empirical work on the cost and returns of R&D, measure the societal benefits of pharmaceutical innovation, competition and concentration, mergers and acquisitions or public-/private funding of biomedical R&D._ - _Profile: although in 2020 we produced an extraordinary amount of work as a theme, the impact is less than proportional to it. Nevertheless, we have published OHE and journal articles, posted OHE blogs (e.g., research outputs, the content of current interest) and produced some (minor) social media activity_ - _Engagement and collaborations: at the theme level, there is a need to develop collaborative relationships with academics, academic groups, universities, agencies and institutions, organisations, charities and/or prestigious research funders._ _Theme lead: Margherita Neri_ ## _**UPDATE AND REFLECTIONS ON 2020**_ - _2020 was a prolific year for this theme in terms of applying for funded research work. OHE submitted seven proposals, although only one of these was successful. The growing interest and collaboration from the members of the OHE team is, however, a promising sign for this theme to be able to grow in the future._ - _The funding stream generated by consulting work has continued to be relatively small compared to other themes. OHE should continue to seek opportunities for diversifying the theme's pipeline. Going forward, expanding the research grants will also be beneficial, as some of the existing research projects are ending, and others have progressed in the second stage of the funding period._ _Theme lead: David Mott_ ## _**THEME UPDATES**_ _21_ - _In November, an_ _**OHE Research Paper** titled "Drop Dead: Is Anchoring at 'Dead' a Theoretical Requirement in Health State Valuation?" (Authors: Chris Sampson, David Parkin, Nancy Devlin) was published and received considerable attention on social media platforms._ - _In December, it was confirmed that OHE had been_ _**awarded a research grant** from the EuroQol Research Foundation: "Development and testing of EQ-5D-5L bolt-on descriptors for hearing" (PI: Chris Sampson). OHE is now leading the development of three bolt-ons for EQ-5D-5L (cognition, vision, and hearing)._ - _As of January, David Mott became the_ _**new theme lead** , taking over from Patricia Cubi-Molla. Patricia remains at OHE and will continue to contribute to MVO-related research._ - _In February, it was confirmed that David Mott has been awarded_ _**membership of the EuroQol Group Association** . Further applications from OHE staff may be submitted later this year._ _During 2020, OHE managed to respond to a large number of research funding calls from highranking funding bodies (National Institute of Health Research; Cancer Research UK; Nuffield Foundation; Health Foundation; Medical Research Council; Diabetes UK; Newton UKRI; EuroQoL; etc.) and to bid for research projects from a significant number of private companies. The name and logos of the funders we applied to are shown in the figure below:_ _22_ BPAS• APCO rn'.er ICERI FERRING enurtur• HUB Figure I MRC IFPMA ISE ¥1 Wr Roche Health & (Jal Carg WASHIYGTON t.• BJ-SD Gavi HARVARD •p" 23 _We consider that, especially in 2020, our success rate was not satisfactory. Thus, we have started 2021 by reflecting on which factors may have played in producing the subsided success rate._ ## _EXERCISE OF REFLECTING ON FACTORS BEHIND THE UNSATISFACTORY SUCCESS RATE:_ _We gathered feedback from the institutions to which we applied and from members of the research committee. We identified several reasons why some of our research grant applications failed:_ - _1) The funder may not have considered the project broad enough because it focused on a particular geographical area._ - _2) Related to the above, we may have applied to funders whose_ _**research interests** historically do not overlap with the interests of OHE (in terms of clinical versus health economics research)._ - _3) Our applications may not have ensured_ _**ticking all the boxes of the call** , or we may have gone too far from our research comfort zone and proposed research in areas in which our expertise is not established._ - _4) Finally, one institution argued that the_ _**interlinkage of the research packages** was not well explained._ _Besides these reasons, other external factors might have influenced the success rate of our grant applications:_ - _1) With_ _**the irruption of the COVID-19** pandemic, the_ _**focus** of the research funded by UK institutions shifted dramatically._ - _Many calls were very focused on_ _**COVID-19 related projects** ._ - _2) The_ _**number of applications** received by our target funders was much larger than usual._ - _Reasons behind the increased number of applicants per call might be related to the disruption of teaching activities in universities and/or that government funding in certain areas (e.g., global health) was vastly reduced._ _24_ ## _**About us**_ _**Founded in 1962 by the Association of the British Pharmaceutical Society, the ffice of ealth conomics ( ) is not only the world’s oldest health economics research group, but also one of the most prestigious and influential.**_ _**OHE provides market-leading insights and in-depth analyses into health economics & health policy. Our pioneering work informs health care and pharmaceutical decision-making across the globe, enabling clients to think differently and to find alternative solutions to the industry’s most complex problems.**_ _**ur mission is to guide and inform the healthcare industry through today’s era of unprecedented change and evolution. We are dedicated to helping policy makers and the pharmaceutical industry make better decisions that ultimately benefit patients, the industry and society as a whole.**_ ## _OHE. For better healthcare decisions._ ## _**Areas of expertise**_ - _**Evaluation of health care policy**_ - _**The economics of health care systems**_ - _**Health technology assessment (HTA) methodology and approaches**_ - _**’s impact on decision making, health care spending and the delivery of care**_ - _**Pricing and reimbursement for biologics and pharmaceuticals, including valuebased pricing, risk sharing and biosimilars market competition**_ - _**The costs of treating, or failing to treat, specific diseases and conditions**_ - _**Drivers of, and incentives for, the uptake of pharmaceuticals and prescription medicines**_ - _**Competition and incentives for improving the quality and efficiency of health care**_ - _**Incentives, disincentives, regulation and the costs of R&D for pharmaceuticals and innovation in medicine**_ - _**Capturing preferences using patient-reported outcomes measures (PROMs) and time trade-off (TTO) methodology**_ - _**Roles of the private and charity sectors in health care and research**_ - _**Health and health care statistics**_ _25_