Health economics is an essential part of the value proposition for any medical technology. It demonstrates, whether technology is cost-saving or not; or if it leads to higher cost, whether it is cost-effective to the health care system or not?
At the start of the life cycle for every technology, it is necessary to understand its economic value proposition, as it can drive the decision-making about its design or mode of use, necessary clinical studies and positioning towards hospital and higher-level payers, help to determine the appropriate pricing strategy.
Later on, health economic data become an important part of the reimbursement process. Health economic data (cost-effective and sometimes budget impact analysis) can be necessary for reimbursement processes in Belgium, England, France, Netherlands, Norway, Switzerland. They are also important for negotiations with stakeholders in Germany and Italy.
There are a lot of challenges with health economic evaluation of medical technologies: complexity of costing of the index procedure, issues with replacement of device, costing for capital equipment, incorporation of the data about learning curve and others. It requires a lot of expertise in the field of medical devices and IVD tests to take the right approach with the health economic analysis.
MTRC is one the leading European consultancies in the field of market access for medical technologies and IVD tests. We can apply our knowledge of health economic requirements of different stakeholders in Europe to the right design and methodology of the health economic analysis, help publish it or adapt it for the use in reimbursement or health technology assessment applications.
Learn more here: https://services.mtrconsult.com/healtheconomics