Healthcare Value & Access Assessment
The commercial success of a new medical device, pharmaceutical, or biologic can depend on a company's ability to differentiate it from others in that class. Demonstrating the clinical and economic value of a product to regulatory agencies, payers, providers, and internal stakeholders for decision-making often requires collecting data on multiple endpoints (e.g., comparative outcomes, quality of life measures, or other patient-reported outcomes) in addition to the main outcome metrics of cost, efficacy, and safety. Differentiating a product from others in terms of clinical endpoints, as well as economic value, is essential to regulatory authorization, market adoption, and overall success.
For medical devices and diagnostics, hospitals or health systems try to understand the costs and benefits of products, including whether they facilitate faster or more accurate treatment or lower readmission rates. In addition, hospital and payer health technology assessment (HTA) committees often compare the overall cost of care associated with a new product relative to alternatives. Exponent provides insights into market access pathways, including cost of care, budget impact models, economic modeling, payer perspectives for reimbursement, and the development of HTA submission dossiers.
Exponent can provide advanced guidance to develop solutions for clients including:
• Generating evidence of the value of a new drug, device, or other intervention for reimbursement and healthcare payers, including using current care models and quantifying the distribution of standards of care to inform strategy and methodology for pricing new and innovative technologies;
• Engaging in database analytics to leverage computational and parallel-processing capabilities to identify meaningful subsets of data, generate informative visualizations via Tableau dashboards, and conduct statistical tests for various hypotheses;
• Structuring and conducting meta-analyses to provide quantitative metrics on performance for standard of care to enable more meaningful cost-effective analysis;
• Developing budget impact and cost effectiveness models for healthcare payers (including self-insured corporations);
• Assisting healthcare providers in identifying effective care for various disease states by evaluating outcomes and providing insights into costs of adopting new technology; and
• Helping new technology manufacturers (mobile, wearables, nanotechnology, etc.) support uptake of their products through evaluating existing care models, cost of care, and unmet needs to build strategies for payment and market adoption.
With each engagement, we work with the appropriate data sources, including Medicare claims and enrollment data, the Healthcare Cost and Utilization Project (HCUP), and other government-maintained databases.