Economic modeling in healthcare: harnessing stakeholder insights for real-world impact
In a dynamic healthcare landscape defined by evolving policies, shifting payer expectations, and changing pricing thresholds, stakeholder insights are essential to maintaining the relevance, adaptability, and effectiveness of economic models in addressing the needs of patients and healthcare systems. By integrating perspectives from clinicians, payers, providers, and patients into the development process, economic models are better positioned to withstand rigorous scrutiny in access and reimbursement evaluations, increasing their robustness and applicability in the real-world healthcare environment.
“When you bake in insights in early stages of model development, you really have a higher likelihood of having a relevant model, as well as scientifically robust methodology used to develop the model. And what's most important is that you get the framework right for the model.”
At ISPOR Europe 2024 (November 17–20, 2024, Barcelona, Spain), the presentation, "Planning with Insights: Even the Best Economic Models Need Validation," delved into this topic, exploring a roadmap for building robust, stakeholder-informed economic models that effectively support reimbursement decisions while addressing the complexities of global markets. The session, which drew a capacity crowd, was led by Priti Jhingran (Genesis Research Group) and included contributions from Dominic Jones-Phillips (Genesis Research Group), Smita Kothari (Merck & Co., Inc.) and Carole Longson, MBE (consultant).
The session covered the importance of gathering insights from:
- Patients
- Clinicians
- Payers
- Industry
And demonstrated this with a case study of an insights-driven cost-effectiveness framework for Duchenne muscular dystrophy. Click below to read the full Deep Dive on The Evidence Base.
Sponsorship for this Deep Dive was provided by Genesis Research Group