Payers and decision-makers require information about the impact of a new medication or treatment on healthcare resources, and how it compares with existing therapies.
Data from clinical trial may not always be available, that’s when economic models help simulating real-world outcomes of patients using your product to inform strategic decision making in every stage of development. Health economic models provide not only a direct comparison of costs, but also value propositions—those “real-life” outcomes of competing therapies that assess value beyond a set of costs.
Types of modeling services
Our expertise lies in developing a variety of economic models to suit your needs within client specified timelines:
- Cost Effectiveness Models : Cost-effectiveness models allow you to compare the value of pharmaceuticals, medical devices, procedures, or diagnostics by quantifying the cost per unit of effectiveness. At MarksMan Healthcare Solutions we can design and develop cost-effectiveness model in Excel or TreeAge to enhance your product’s unique value. We have experience developing everything from simple decision tree models to complex Markov models or discrete event simulation. We can also assist you in developing a strategy to communicate your product’s value story through presentations and publication of abstracts, posters, and manuscripts. Please refer to our value communication services for further details.
- Budget Impact Model (BIM) : A budget impact model along with an AMCP (Academy of Managed Care Pharmacy ) dossier can be much needed when you have a new drug coming to market (or a new indication). Budget impact models allow you to quantify the cost of a new drug to managed care payers. At MarksMan Healthcare Solution we design budget impact models that capture all the economic benefits of your product, including reduced administration costs, medical cost offsets, and reductions in adverse event rates.