We are delighted to support the US based Institute for Clinical and Economic (ICER) in launching a dedicated interactive modelling platform hosting a wide variety of cost-effectiveness and budget impact models developed by ICER and their partner academic modelling groups. We strongly believe that this modelling platform has the potential to substantially advance users’ understanding of the health economic models and specifically bring more clarity to the relation between inputs and the results as well as to improve an overall clarity and transparency around cost-effectiveness models.
How interactive data visualizations change communication of health data
Presentation of health data is undergoing a big change, one that will influence not only how payers and providers make their decisions but also how pharma, medical devices and in-vitro diagnostics companies will interact with external world. Five years ago, interactive health data visualisations usually took a form of simple dashboards with animated charts and accompanying messages.
Nowadays evolutions of modern web capabilities and emergence of the powerful data visualisation tools open almost unlimited possibilities to visualise data and tell the complex story in an easy to digest manner.
iPad budget impact model apps – communication tools for engagement with payers and prescribers
Budget Impact Model (BIM) is the health economics type of model which calculates the net cost of including a new drug or therapy into certain healthcare system or payer, hospital settings. Budget impact model app (budget impact analysis) quantifies the financial impact of a new therapy (drug, medical device, vaccine) for a decision maker (payer), thus allowing pharmaceutical and medical device companies to clearly and persuasively communicate the product cost and clinical value. It is accomplished through measuring the net cumulative cost of particular drug or therapy for a specific number of patients, with at least two (including and excluding the product in question) comparative scenarios.