It has taken us some quite years to develop and release our new eModels Platform for health economics models and global value dossier (GVD) creation, adaptation and value communications. This new integrated solution offers a suite of functionality for complete editorial control and global-to-local adaptation and usage analytics of cost-effectiveness and budget health economics models and value demonstration tools.
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).
Pharma and medical devices companies put a lot of effort into development of their product value story. The value story often takes a form of an MS Excel file or a Power Point deck containing detailed information on burden of illness, product profile, clinical differentiators and health outcomes.
The question is – do these conventional document formats communicate product value story effectively ? Most probably not. With modern digital tools Key Account Managers (KAM) and Medical Science Liaisons (MSL) can present health data and evidence to payers and healthcare providers more effectively.
MS Excel, SAS, SPSS, R, Stata, Matlab and other statistics and modelling software packages are of great help when it comes to model core and logic development. These tools became available in mid eighties. They are around for 30 years already, but are they good enough for communication in modern digital era?
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.