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Demonstrate the economic value of your product

Economic Modeling

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Modeling approach

From early phase to post-launch, every economic model needs an individualised approach to ensure the specific strategic objectives are achieved. This means taking account of the target audience, communication aims and the characteristics of the product itself. In addition, the choice of platform for the model – for example, Excel or web-based application – should reflect how the model will be used in practice.

Objectives

  • Decision making
  • Presentation
  • Increase awareness
  • Increase coverage
  • HTA submission

Platform

  • Excel
  • iPad
  • Online web app

Audience

  • Payer
  • HTA agency
  • Key opinion leader
  • Pharmacist
  • Healthcare professional

Product

  • Tablet
  • Infusion

Step-by-step approach to model development

Regardless of the complexity and intended use of a model, the same step-by-step methodology can be applied to its development.

By defining a clear and detailed model concept from the outset, potential challenges can be identified and addressed, and downstream builds of the model structure and functionality can be developed efficiently.

Model Concept: Define model structure, list of necessary inputs, types of results and data sources in detail to identify challenges early in the model development

User interface designDevelop professional, impactful design that ensures clear display of information and supports intuitive use of model functionality
 
Model worksheet structure: Develop model layout with an easy-to-follow worksheet flow, display of inputs and results, customised to the needs of the audience
 
Model calculation:  Build calculations into the model to derive base case results for initial investigation
 
Functional model: Incorporate reliable functionality and enable sensitivity/scenario analyses to be run
 
Delivery

Engaging your audience is key to achieving the strategic objectives

The varied audiences for economic evidence have diverse perspectives. Understanding the needs of different stakeholders and the economic evidence that is important to them is critical to effective engagement.

  • Health Technology Agencies (HTAs)
  • Payer
  • Healthcare professional
  • Key opinion leader
  • Pharmacist
  • Policy maker
  • Regulator
  • Patient/caregiver
  • Employer
Easy-to-understand cost minimization, budget impact or cost-effectiveness models can support stakeholder decision making. 

Support Reimbursement Strategies; Uptake and Product Use

A robust economic model can provide compelling evidence to support the reimbursement, uptake and use of a product. However, to maximise impact, that evidence needs to be effectively communicated in relevant context to audiences – here are some of the ways we can help.

  • NMA: systematic evaluation of the relative effects of multiple treatments through direct and indirect comparisons.
  • Exportable reports: summary of model and key results to be used as a leave-behind for stakeholders.
  • User guides, technical reports, adaptation guidelines, value dossiers, objection handlers: materials supporting affiliates using and adapting the model and applying a product’s economic arguments.
  • Conference abstracts and posters, peer-reviewed manuscripts: development of publications supporting a product’s value communication.
  • Brochures and one-pagers: visually impactful and engaging communication materials for a non-technical audience.
  • HTA support: development of technical documentation and support during the submission process.
  • Training: development of materials and workshops to train affiliates to use the model in the field.

Over the last 4 years, our consultants have delivered 140 health economic analyses with 30 associated publications

To discuss how we can help you demonstrate and communicate the economic impact of your product. . . 

 

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