Evaluating your product’s economic benefit is vital in the healthcare world; strong evidence of cost effectiveness is the foundation for the success of a product reimbursement from HTA bodies and national/regional/local payers.
Our Health economics team comprises of mathematicians and statisticians with rich experience to ensure the best economic case for your product to be put forward.
Types of analytical economic evaluation services:
Our expertise lies in developing a variety of analysis from early phase to post launch. As per your requirement, we can perform the following analysis.
- Cost Benefit Analysis (CBA) : CBA is a form of economic evaluation in which both costs and benefits are given in monetary units. In this way, very definite criteria can be set and compared. Any treatment or service for which the incremental benefits are greater than the incremental costs is considered worthwhile.
- Cost Effectiveness Analysis (CEA) : Most common analysis used to decide different treatments for the same condition. In CEA, costs are measured in monetary units, while the benefits are measured as outcome measures in natural units such a life years gained or symptom-free days (mortality or reduced morbidity).
- Cost Utility Analysis (CUA) : A form of cost-effectiveness analysis that compares costs in monetary units with outcomes in terms of their utility, usually to the patient in terms of both quantity and quality of life (QoL). The advantage of CUA over other forms of analysis is that it can be used to compare different treatments for different disorders, as the outcome measure is the same.
- Cost Minimization Analysis (CMA) : A determination of the least costly among alternative forms of treatment or management that are assumed to produce equivalent health outcomes. The goal is to find the least expensive way of achieving those outcomes.