Decision-making about biomedical innovations is typically a complex and fuzzy process, as it may involve multiple product alternatives, multiple criteria to evaluate these on, and multiple evaluators at local, national and international level. We offer multi-criteria decision making analytics to understanding, informing and improving decision-making processes about biomedical innovations, even at the earliest development stages. Our preference elicitation methods provide developers with comprehensive data about what users find important. It can be used to estimate market potential and inform regulatory decisions.
Panaxea performs multi-criteria decision analysis and preference elicitation to:
– Identifying the decision alternatives and decision criteria for all relevant stakeholders, at each stage of the development pathway
– Analyzing the product’s current and required performance on the (weighted) criteria
– Identifying the evidence requirements at any point of the decision process
– Performing “what-if” scenarios to identify the boundaries in the decision uncertainty
– Support regulatory decisions by providing detailed user preference data (for example risk tolerance of patients for treatments being submitted for approval)
– Interacting directly with the decision problem to enhance the understanding of trade-offs
Panaxea uses state-of-the-art methods and software to ensure a reliable, transparent and intuitive approach to multi-criteria decision making and preference elicitation.