When You May Need Health Economic Modeling
Health economic modeling may be required when your company needs to understand whether a technology is cost-saving, cost-effective or affordable for a healthcare system.
It can support early product development, clinical study planning, pricing decisions, reimbursement and HTA submissions, payer negotiations, budget-impact discussions and publication.
A model is particularly valuable when evidence is incomplete, decisions must be made before launch, or the economic consequences extend beyond the immediate cost of the device.
What Your Team Will Be Able to Decide
Our work helps your team determine:
Health Economic Modelling Across the Product Lifecycle
Health economic modelling can begin before a technology reaches the market and evolve as new evidence becomes available.
During early development, a model can test assumptions, identify important cost drivers and help determine which outcomes should be collected in clinical studies.
Closer to launch, the model can incorporate stronger clinical, resource-use and cost data to support reimbursement, HTA and payer decisions.
The scope and methodology are tailored to the decision the model must support rather than divided into fixed model categories.
How MTRC Works
We clarify the technology, comparator, target population, country, perspective, audience and decision the model must support.
We map the clinical pathway, relevant health states, economic consequences, time horizon and appropriate analytical structure.
We gather clinical, resource-use, cost and quality-of-life data from the available evidence, client materials and relevant country sources.
We develop the model in Microsoft Excel, document the assumptions and perform internal quality checks and validation.
We test how changes in key inputs and assumptions affect the results through scenario and sensitivity analyses.
We prepare a clear report explaining the methodology, results, limitations and practical implications for reimbursement, HTA or other decisions.
Health Economic Challenges Specific to MedTech
Economic evaluation of medical technologies often involves issues that are less prominent in pharmaceutical models.
These may include:
- Capital equipment and maintenance costs
- Learning-curve effects
- Procedure-specific costs
- Changes in hospital stay or care setting
- Evolving device generations
- Complex diagnostic sequences
- Country-specific differences in reimbursement and costing
Discuss Your Health Economic Model
Tell us about your technology, comparator, target market, available evidence and the decision the analysis must support.
MTRC will recommend the most appropriate methodology and project scope.