External tender: A pilot tool to prospectively estimate the health and economic return on research investment

As research budgets are insufficient to fund all worthy projects, decisions on prioritising research becomes the best way to allocate research resources. 

Consideration of the expected costs and benefits of research projects is fundamental to achieve efficient utilisation of research budgets and maximise returns on research investments. Similar cost benefit analyses have been the standard in guiding funding decisions of other health care investments in Australia (e.g., pharmaceuticals and health services). Although funding organisations and researchers are showing increasing interest in the assessment and demonstration of value for money of research projects, there are no clear guidelines on how the health and economic returns of research investment can be prospectively and objectively estimated.

ACTA is interested in piloting a tool that prospectively estimates the impact of clinical trials through return on investment. The tender comprises two components:

1. A scoping review that examines the current tools (including web-based programmable tools) that measure impact of clinical trials and/or return on investment (ROI)

2. The piloting of a tool that prospectively estimates impact/ROI on CTN trials; preferably one that was successfully implemented and one that was not.

This project should take 3 months, and be completed by 31 December 2020. Consultants wishing to submit an application should access relevant documentation below.

Closing date for submission is Friday 9 October, 2020.

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External tender: A pilot tool to prospectively estimate the health and economic return on research investment

Type of resource: pdf

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