Economic analyses and models are essential components of most pricing and reimbursement activities. We believe they are tools to accomplish an objective, not objectives in and of themselves. Our approach is to identify the least complex, most effective economic tools for the desired objective and, as much as possible, avoid unnecessary expenditure of time and budget to obtain those tools.
Traditional analyses, such as burden of illness studies and comprehensive literature reviews, might be comprehensive in their detail and methodological rigor but are expensive to conduct and are not focused on giving the developer clear guidance for determining an economic strategy.
Alternatively, a Health Economic Strategic Assessment (HESA) provides a low-cost way for drug and device developers to identify and understand payers' and providers' economic requirements and the current health economic landscape that their products will face approaching launch. A HESA provides a focused and clear analysis that is useful to the developer's various internal constituencies – including product teams, medical affairs, and marketing. A standard HESA includes:
- Analysis of competitors' health economic strategies based on published studies
- Economic landscape of the therapeutic area including resource utilization, cost, pricing, and reimbursement issues
- Top line analysis of the new product's potential effect on key health economic parameters and on the impact that these effects will have with payers and providers.
- Gap analysis and health economic strategy recommendations
- Independent thought leader review