The Institute for Clinical and Economic Review (ICER) has long been committed to promoting fair pricing and equitable access in U.S. healthcare, and has developed a value assessment framework to guide this work. ICER’s value assessment framework was first conceived in 2015 and subsequently updated in 2017 and 2020. This study introduces the ICER value assessment framework (2023). It focuses on elucidating the major revisions within three key areas: cost-effectiveness analysis, health technology assessment (HTA) methods related to health equity and patient engagement, and discusses these changes in light of their central methodological implications. The aim is to provide informative insights and methodological references that may be of value for the development and refinement of HTA practices in China.