We understand the need for accurate, tailored health economic and budget impact modelling for new medical devices. Our modelling and model validation services are based on considerable interaction with healthcare payers and resource-allocation commissioners.
Cost-effectiveness models need to be tailored to a specific application and healthcare system. That is, considering what specific data the key decision maker in a given payer system needs. The application of developmental and real-world evidence creates a compelling, evidence-based model tailored to the needs of the specific market. This is based on: focused, real world cost-effectiveness and cost-utility models for medical devices; core (global) economic models or HTA agency specific models; early planning models; budget impact models tailored to the payer process for a given market; focused, value dossiers and negotiation facilitation documents prepared with the critical data to make a budget decision.
Budget impact and cost-effectiveness models are often of varying quality and accuracy – there may be a conscious or unconscious bias in the data, errors or the core model may be based on out of date or inappropriate validation data. As a healthcare resource commissioner, you need to know that the model you have been provided with delivers an accurate indication of cost-saving and budget impact so you can properly make a decision on resource allocation. We provide a full service to review, analyse and run established models with the real epidemiological data to check results and validity of outcomes.
Authored by our health economics expert, Alan Crofts