Health economic models are essential tools for quantifying the potential long-term health and economic impact of medical technologies. As a result, these models are increasingly used to inform clinical guidance and reimbursement decision. In fact, most HTA agencies require economic models to be used to determine the value and affordability of new technologies. Because of their central role to market access and utilization by patients and providers, health economic tools are increasingly used to inform internal product development decisions.
At CHEORS, we ensure the model is fit for purpose – designed to address the specific need(s) and aligned with your product strategy. After understanding your needs and strategy, our modeling team reviews the relevant literature and prepares a detailed model development plan to guide the project. Once approved, a user-friendly, interactive model is developed using an appropriate modeling software (e.g., Excel with VBA, R, Mathematica). Our rigorous standard operating procedures and independent quality control process ensure the highest quality model is delivered within strict timelines.
Whether developing a new model for your product to gain reimbursement or critically reviewing a model developed by your competitor, CHEORS can help you.