Economic Modeling

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.
  • Interactive Models : An interactive model can provide you with a way to easily explore many variable mixes in your economic model. With interactive models, you can enter particular parameters to learn how certain changes impact your drug’s overall economic landscape.
  • Disease Burden Models : When you are marketing your product for the first time in a disease struck that payers know little about, it is important to quantify the clinical and economic burden of the disease and that’s where disease burden models do the job. At MarksMan Healthcare solution, our experts can help you build disease awareness among payers by showing them the full economic costs associated with the disease. These costs represent the potential economic benefits due to the introduction of improved therapies to treat the disease.