Cost Effectiveness and Budget Impact Modelling

Health economic analysis is becoming more and more common part of reimbursement/health technology assessment review process. In addition to formal reimbursement/HTA requirements, economics for medical technology is becoming essential part of positioning of technology for different stakeholders.

Economic analysis can be done at different stages of product development for different purposes:

  • During pre-market phase: to understand likely cost-effectiveness of technology to estimate appropriate pricing for technology and required evidence
    • Evidence might not be required at this stage at all. Assumptions about efficacy of technology is sufficient
    • Economic analysis can quantify role of different drivers of cost-effectiveness, which sometimes are not obvious
    • Varying price of technology to see impact on cost-effectiveness is extremely helpful in understanding price sensitivity
    • Analysis is mainly for internal use
  • At early evidence stage: to demonstrate cost-effectiveness to stakeholders to convince about value of technology
    • One or two studies are usually sufficient. Uncontrolled studies are appropriate
    • Analysis can be shared with stakeholders as a part of value dossier or as a white paper
    • Executable Excel model is available for sales force to work with payers/clinicians
    • In some cases, analysis can be published in a peer-reviewed journal as “early developments”
  • At good/high evidence stage: to publish economic evaluation to demonstrate value to broad auditory
    • At least one good quality (randomized controlled trial) study is necessary
    • Analysis is published in a peer-reviewed journal
    • Analysis is a part of value dossier
    • Analysis can be part of the reimbursement/HTA submission

Synergus can provide support with development of state-of-the-art economic models both for publishing/reimbursement submissions and as a sales tool.

Contact us for more information