Evaluating the economic case for a product is at the core of many Reimbursement and Health Technology Assessment processes worldwide; therefore, developing a robust and appropriate economic argument is crucial to commercial success.
Types of health economic modelling
We can conceptualise, develop and critically appraise all health economic models, including:
- Decision tree, Markov and semi-Markov, partitioned survival, discrete event simulations conceptual modelling, and regression-based modelling.
- Cost-effectiveness, cost-utility, cost-minimisation, cost-consequence and budget impact models.
How are health economic models used to support market access?
Early-stage models
Early-stage models allow pharmaceutical and biotech companies to understand the potential cost effectiveness or budget impact of a new product whilst it is still in early phase trials. An early model can:
- Identify data gaps so that clinical/non-clinical evidence can be collected accordingly
- Inform ‘go / no-go’ decisions
- Present the opportunity to test modelling methodology and underlying assumptions with key opinion leaders (KOLs)
- Inform an appropriate pricing strategy
Supporting launch and market access strategy
Health economic models are used to support the development and implementation of market access, pricing and commercial strategy at both global and national levels. As such, a model may be:
- Featured within a global value dossier
- Used to evaluate and support pricing strategy
- Used to support the development of global and local value propositions
- Adapted to reflect local markets
To discuss your Health Economics needs with our experts, get in touch using the form below.
Models for Health Technology Assessments
A health economic model is a requirement for many reimbursement and health technology assessment (HTA) submissions. Within submissions, cost-effectiveness, cost-utility, cost-consequence, or budget impact models may be used to demonstrate the potential impact of the product on healthcare budgets and patient outcomes.
The model is one of the most influential parts of the submission – in many European markets, demonstrating cost-effectiveness is a pre-requisite for reimbursement. It is important to ensure that the right type of model is chosen, the principles and data are transparent, and that the economic argument is demonstrated clearly.
Engaging with local payers and healthcare decision-makers
Budget impact models are also used as conversation aids with payers, prescribers, and other healthcare decision-makers to present the potential financial impact of a new product. These models are often adapted to reflect local pricing and formulary data and other market nuances.
The best models are interactive and developed on a suitable platform (Mtech Access can develop budget impact models in Excel, on iPad, or hosted on a website), enabling the account manager to adapt key parameters to reflect the payer’s specific circumstances.
Our specialist health economic consultants use the latest modelling techniques and methods to ensure that all our models are robust and fit-for-purpose in today’s challenging environment.
Uncover our expertise in health economics, systematic literature review and network meta-analysis
Featured Case Studies
View Case StudyBuilding a budget impact model for AMCP submission in the US
View Case StudyGiving healthcare customers a true picture of budget impact
View Case StudyOptimising visualisation and communication in an app-based Cost-Consequence Model
View Case StudyDeveloping a digital toolkit to demonstrate the value of a pharmaceutical technology to secondary care providers
Why choose Mtech Access as your health economics consultancy?
185
projects
55
Clients
80
years' experience
- We are leaders in:
- Cost-effectiveness modelling: Early (global) models and HTA-specific models
- Budget impact modelling for national or local discussion
- Critiques of existing models
- Supporting statistical analysis
- Technical documentation
- Manuscript writing
- We have worked on 185+ projects* with 55+ clients
- Our team collectively have 80+ years’ experience building health economic models to support reimbursement and market access
- We develop our own health economic models as well as critiquing and adapting models developed by other agencies
- We build early-stage health economic models and evaluations to support your global strategy or for inclusion in a global value dossier
- We are also experienced in submission-ready cost-effectiveness models and budget impact models to support your Health Technology Assessment, with the skills in-house to support your full submission or to supplement your teams’ capability where needed
- Our customer communication experts and in-house developers can develop your model into an interactive digital tool that can be housed on the iPad, presented remotely via the web, and integrated with CRM systems, such as Veeva
- We confirm the principles and assumptions behind our models with a broad network of payers, clinicians, and other stakeholders across global markets
- In the UK we have close relationships with over 90 contracted Associates working in the NHS, who work directly with us on projects, to help us ensure our models will resonate with NHS decision-makers
*Includes any distinct project involving the evaluation or build of a health economic model for an external Pharmaceutical, Medtech, Biotech Diagnostics or Healthcare client.
- We are leaders in:
- Cost-effectiveness modelling: Early (global) models and HTA-specific models
- Budget impact modelling for national or local discussion
- Critiques of existing models
- Supporting statistical analysis
- Technical documentation
- Manuscript writing
- We have worked on 135+ projects* with 40+ clients
- Our team collectively have 75+ years’ experience building health economic models to support reimbursement and market access
- We develop our own health economic models as well as critiquing and adapting models developed by other agencies
- We build early-stage health economic models and evaluations to support your global strategy or for inclusion in a global value dossier
- We are also experienced in submission-ready cost-effectiveness models and budget impact models to support your Health Technology Assessment, with the skills in-house to support your full submission or to supplement your teams’ capability where needed
- Our customer communication experts and in-house developers can develop your model into an interactive digital tool that can be housed on the iPad, presented remotely via the web, and integrated with CRM systems, such as Veeva
- We confirm the principles and assumptions behind our models with a broad network of payers, clinicians, and other stakeholders across global markets
- In the UK we have close relationships with over 80 contracted Associates working in the NHS, who work directly with us on projects, to help us ensure our models will resonate with NHS decision-makers
*Includes any distinct project involving the evaluation or build of a health economic model for an external Pharmaceutical, Medtech, Biotech Diagnostics or Healthcare client.
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