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Participants on the second day of the National Comprehensive Cancer Network 20th Annual Conference in Hollywood, Florida, March 12-14, 2015, spent a long time defining value in cancer care and how it can be incorporated into healthcare decision making.

Biomarker-directed regimens in cancer not only ensure treatment for the right patient population, it also makes economic sense, especially in today's climate of high-cost specialty medications like the novel immunooncology agents, nivolumab and pembrolizumab.

While the clinical data presented at the annual meeting of the American Society of Clinical Oncology (ASCO) created waves, a session on value had an equally significant impact as oncologists thronged to hear stakeholder voices define this, as yet abstract, concept of "value" in cancer care. The session brought together a patient representative, an oncologist, an ASCO representative, and a payer.

The Patient Advocate Program (PAF) serves patients with chronic, life threatening or debilitating diseases by providing direct financial support as well as case management support. Alan Balch, PhD, chief executive officer, PAF, explained that PAF guides their members through insurance systems when issues of access or affordability arise for the individual.

Supporting shared decision making between cancer patients and oncologists starts with an understanding of what the physician's role is, explained Peter P. Yu, MD, FACP, FASCP, president of the American Society of Clinical Oncology and director of cancer research at Palo Alto Medical Foundation.

This week CMS unveiled its proposed rule to overhaul Medicaid managed care and folded to Florida Governor Rick Scott, and the American Society of Clinical Oncology kicks off its annual meeting in Chicago.

On the first day at the annual meeting of the American Society of Clinical Oncology in Chicago, physicians introduced some of the newer agents currently available to treat lymphoma and described their experience with these agents during the session, "Incorporating Novel Agents into Lymphoma Therapy: Value in Everyday Practice."

Most of the research in cancer economics has been on total cost and cost effectiveness, which is why Veena Shankaran MD, MS, assistant professor in the division of medical oncology at the University of Washington, wanted to have a panel discussion on financial toxicity at the ISPOR 20th Annual Meeting.