Health Economic Modelling, Evaluation & Cost Analysis
Collaborating with clinicians and researchers to build powerful models on value
Our team works closely with clinicians through an established and rapidly expanding network of KOL’s to map clinical pathways, define optimal designs and structures, model assumptions, and input parameters to build technology-specific economic models. We have experience in decision tree and cohort Markov models to inform cost analyses with sensitivity analyses.
Health economic modelling is comprehensively supported by clinical engineers and scientists and runs alongside technology evaluation trials, to capture cost effectiveness data associated with the intervention in different clinical scenaria and positioning within a clinical pathway.
Early HTA and HE modelling can help determine which parameters will ultimately be most influential to cost-effectiveness, and inform future decisions on defining target populations, pricing, evidence gaps and further research needed to address these.
Insightful analysis for successful integration: Unlocking the potential of medical devices
We provide analysis and understanding of efficiency, effectiveness, values and behaviours involved in the introduction of new technologies in healthcare services.
Economic evaluations using cost effectiveness analyses are based on methods and principles drawn from clinical trials, health services research and epidemiology. The output of an economic evaluation is an incremental cost-effectiveness ratio, which may be compared to a threshold value set by NICE at £20k-£30k.
We also provide health economic modelling needed for a full economic evaluation.