Health Technology Assessment
The process of bringing your healthcare innovation to the market is lengthy and complicated. Besides the clinical or humanistic value that your product generates, for example by decreasing complication rate, prolonging survival, improving patient flow etc., the economic value needs to be demonstrated to healthcare payers.
Using Health Economic Modelling, the value of a novel medical intervention is quantified by simultaneous analysis of effects on patient outcomes and total costs of care associated with the innovation in comparison to the standard of care. An objective measure of the medical innovation’s value is generally required for (national) reimbursement applications.
Panaxea offers tailor-made Health Economic Modelling expertise through:
- Development-focused health technology assessment: even in the early stages of development when complete clinical data is not (yet) available, an estimation of expected value can be made using experts-inputs and small scale studies
- Extensive literature review of the relevant standard of care pathway and associated costs, establishing the baseline to which your innovation will be compared by payers
- Developing, analysing and validating health economic models, including translating and updating existing models with new (country-specific) data
- Development of value dossiers for all relevant stakeholders
- Preparation of reimbursement files