The 2023 Annual Report documents a transformative year for the Innovation and Value Initiative (IVI), marked by expanded research, strong stakeholder engagement, and continued leadership in patient-centered, equitable health technology assessment (HTA). IVI invested 82% of total revenue in research ($1.85M), welcomed 17 new members, and convened 200+ participants at its Methods Summit. Major accomplishments include completion of the Health Equity Initiative, development of the Economic Impacts Framework for patients and caregivers, launch of the Value in Rare Disease Initiative, and the public release of the IVI Major Depressive Disorder (MDD) Open-Source Value Model. The report also highlights progress in valuing innovation through a call for papers, expanded use of multi-criteria decision analysis, and influential convenings focused on equity and economic impacts, reinforcing IVI’s role as a national leader in advancing transparent, patient-driven approaches to value assessment.