Pharmaeconomica
Management Consulting - Brussels, N/A, BE
Pharmaeconomica Employees
Pharmaeconomica Details
Pharmaeconomica is an independent consulting company located in Belgium and specialized in providing the life science industry with highly specialized services in evidence synthesis and health economic modelling. We help your organization strategically address the challenge of identifying, quantifying, documenting, demonstrating and communicating product's value for money by using health economics and outcome research (HEOR) techniques combined with effective market access strategies.The value of a health technology realizes in its use and not in its approval. Drug development functions are still focused on time to regulatory approval, rather than success in achieving reimbursement, even though the required evidence by payers are higher than ever before. But what is value for money? In healthcare value is a multidimensional and comparative concept integrating the clinical, humanistic and economic benefits of a new technology in terms of life years gained (improvement in survival), increasing quality of life (reducing morbidity), improving in patient compliance (better adherence) and reducing in resource utilization (e.g. fewer hospitalizations). Value for money of a new treatment compared with the current standard of care or relevant comparators is determined by evaluating the 'incremental cost-effectiveness ratio' (ICER) – i.e. the difference in costs divided by the difference in effectiveness. Using ICER as a value-based metric account for efficacy, safety, Quality of Life (quantity and quality of years gained), pricing, resource usage, convenience of use and adherence to assess the probabilities of a drug to bring value at a certain willingness to pay and ability to pay compared with the standard of care.A quantitative value based approach improves decision making across the lengthy and costly drug development process to achieve an effective and economically viable health technology
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