HERON’s economics modeling team combines scientific precision with intuitive problem-solving, building models that inform decision-making and support commercial development. Our differentiator is inventiveness, working with clients to ensure maximum value from investment in economic analysis.
Early stage/target profile modeling: Defines the main drivers of cost-effectiveness or budget impact; developed in Phase II /early Phase III and heavily based on product profile and pricing assumptions to support market access scenario planning.
- Used when there is a need to assess if a clinical development program will have the potential to demonstrate cost-effectiveness as well as safety and efficacy
- Used when there is a need to determine which parameters require further research to better support the positioning of a drug in early phase development
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Budget impact/financial models: Illustrates the financial impact of implementing an intervention within a particular market or system - can be population-based or payer/hospital-based (see below); typically short term (e.g. 3-5 years).
- Used to determine financial impact, whether additional cost or cost savings, due to implementing a new intervention at the local, regional or national level
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Payer/hospital based model: Demonstrates the net benefit of one product to another for a particular hospital or payer
- Used by account managers in the field and often supplemented with a portfolio describing burden of illness, impact on patients, and healthcare system
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Burden of disease model: Estimates annual incidence and prevalence (open cohort, akin to budget impact without incremental analysis) from the characteristics of a payer’s covered population, treatment and costs, over a specified period of time (typically short term, e.g. 3-5 years); may compare the clinical data between treatments
- Used to raise awareness of the true burden of a disease, in terms of numbers of patients treated, resource utilization and cost to the payer; typically aimed at priming the market for future promotion of drug therapies which are expected to reduce the overall costs to the payer
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Cost-effectiveness model: Evaluates both the costs and consequences of a range of interventions; in Europe, cost-effectiveness is a pre-requisite for reimbursement
- Used when there is a need to demonstrate the economic implications of a new intervention in comparison to other treatments already available or best supportive care to further develop the product positioning strategy
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Database analytics: The process of converting real-world data into meaningful data to support decision making; includes cleaning, coding, and transforming the data for various statistical analyses
- Used to clean and verify data as well as to provide meaningful translation of findings to meet multiple stakeholder needs
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Launch-based training tools: or products with a compelling value/effectiveness message, HERON develops tools and conducts training for account managers to explain economic messages clearly and with confidence. Our experience has been that even the best tools have little value if account managers do not have the confidence to use them.
- Used to augment sales training strategies and programs
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Economic studies and post-launch publications: As determined necessary and/or beneficial for post launch positioning, to encourage uptake, and/or to promote thought leadership and stakeholder engagement.
- Used to bolster product/portfolio positioning
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