Health economics
Industry challenges
Confronted with budget constraints on one hand and expanding health care costs on the other hand, healthcare payers and providers are increasingly demanding health economic evaluations in order to allocate their budgets to medical interventions with the highest health gain per invested euro. High standard guidelines are continuously developed to ensure the objectivity and quality of health economic studies, increasing the investments required for health economic studies. Moreover, an increasing demand for post-marketing observational studies emerges to justify reimbursement and pricing decisions.
Well-prepared companies aiming to optimize their market access, product uptake and reimbursement, need to include health economics and outcomes research in their product development strategy quite early in the product life cycle. Timely and well-designed health economic studies throughout the entire product lifecycle will ensure an optimal market access and reimbursement at an optimal use of resources and investments.
In order to face these industry challenges, most companies will need to answer the following key questions:
Key questions:
- Do we comply with regulations?
- Are we prepared for increased payer scrutiny of product pricing?
- Do we need new business insights?
- Can we already determine in early product development if and at which conditions our product will be cost-effective?
- How can we optimize data collection in our clinical trials in order to include relevant economic data for later economic evaluations?
- How can we demonstrate our product’s value for money to decision makers?
- Are internationally developed health economic models and collected data as such transferable to our country?
- How can we use complicated cost-effectiveness models in our go-to-market strategy, e.g. for discussions with health care providers?
- How can we demonstrate that our product is cost-effective in real life?
Deloitte offering - some approaches & credentials
Health economic evaluations:
- “Scenario” cost-effectiveness models in early stages of product development
- International cost-effectiveness and budget impact models
- Country customizations of internationally developed cost-effectiveness and budget impact models
- Collection of data for populating cost-effectiveness and budget impact models (observational studies, Delphi panels, literature reviews, desk research)
- Burden of illness studies
Observational studies:
- Prospective and retrospective patient chart review studies
- Quality of life studies
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