Health Economic Modelling for MedTech Innovations – What, Why and How

Are you looking to launch a new medical technology, medical or diagnostic device in the UK, Europe or North America? Would you like to know how health economic modelling could support your market access journey?

In our recent webinar, Calum Jones (Consultant Health Economist) and Nick Swart (Senior Health Economist) discussed what, why and how health economic models can support MedTech innovations to demonstrate value, achieve market access and reach more patients.

Health economic modelling is becoming a key component of the MedTech market access journey. There is increasing need in many countries to demonstrate economic evidence for new technologies, with many health technology assessment (HTA) bodies now requiring economic models before offering guidance for reimbursement, such as NICE’s Medical Technology Evaluation Programme (MTEP).  MedTech firms are also recognising that a cost effectiveness model can also offer robust evidence of interventional value to support discussions with payers and other healthcare stakeholders.

In this webinar, Calum and Nick from our health economics team explored why health economics is becoming a key part of market access for MedTech innovations and how health economic models can provide the evidence these innovations need to achieve reimbursement and reach more patients.

Calum and Nick then explored some of the different health economic models suitable for MedTech innovators, including budget impact models, cost-effectiveness models, and multiple criteria decision analyses. They provided an overview of each model and explained:

• How each model works
• The outputs from each model
• When and why, you might use each model

Calum and Nick shared their complementary perspectives and experiences of helping MedTech companies achieve market access.