Health Economics and Outcomes Research (HEOR)

HEOR is a field of Economic Evaluations of Healthcare Technologies

Health Economics and Outcomes Research (HEOR) is an area of economic analyses that deals with the studies and mathematical models (simulations) based on available clinical, epidemiological, economic data and published evidence to inform rational and evidence based decision making. HEOR deals with allocation of funds for healthcare purchasing,  evaluations of the value for money of healthcare technologies, drugs and medical devices in order to inform budgeting and change in clinical practice decisions. Healthcare payers (government, insurance companies, hospitals) operating under constrained budgets are always seeking to maximise the output (value, health, procedures) subject to limited financial resources and other constraints (technical, time, legal, management changes).

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Budget Impact Model app for iPad and Web – an effective tool for payer engagement

iPad budget impact model apps – communication tools for engagement with payers and prescribers

Live tool example

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.

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