Why do we perform an MCDA ?
MCDA is an analysis performed to assess a wide spectrum of risks and benefits of a considered treatment. The aim of MCDA is to aggregate quantitative information of all risk/benefit criteria of interest into one cumulative score, which might also be useful in the context of costs. The process for carrying out this type of analysis consists of four main parts:
- Implementation of HTA report containing all relevant quantitative synthesis of data on selected endpoints;
- Transformation of the results of particular endpoints into one uniform scale;
- Assignment of weights to each endpoint;
- Calculation of weighted sum of standardised effects relating to individual endpoints.
The transformation of results of different endpoints (described originally by different parameters) into one scale requires application of proper mathematical transformations/modelling.
The weight assignment might be realised by conducting a specially prepared study based on the electronic platform for data collection (from experts and/or representative group of patients).
INAR also offers the development of Portfolio Decision Analysis in a Pharmaceutical Company. Using a MCDA model helps to estimate the highest likelihood of success and projected profitability of alternative investment decisions for a Company. Having such knowledge enables the Company to choose where best to direct research and development efforts in order to rationalise the expenses (e.g. prioritising the projects on the basis of their value for money).