To put the economic value into your technology’s performance, contact Presscott Associates today!

TECHNO-ECONOMIC STUDIES

We add the value of economics to the science of life.

Clinical efficacy will always be the key to market adoption and positive health plan coverage decisions, but cost-effectiveness and/or the demonstration of “economic value” can add an important dimension to your product’s dossier. This is particularly true if the current standard of care is well accepted and less expensive than your proposed alternative.

As more health plans formally integrate
cost-effectiveness into their definitions of medical necessity, economic value has become an increasingly necessary component of your technology’s performance.

For these reasons (or if you are simply unsure of how your technology fits in economically), Presscott Associates should be the choice to work with your team to:

Determine the appropriateness of an Economic Value Analysis by assessing the current market position of your technology relative to the current standard of care and other potential alternatives
Determine the most appropriate and efficient methodology for isolating the economic impact of your technology
Conduct economic value studies through various approaches including:

– Retrospective studies using proprietary data sources available through provider or health plan partners
– Retrospective studies using public data sources along with your own field data
– Prospective studies during your product’s investigative stages in which economic data is collected during
FDA clinical trials
– Prospective studies on a post-market basis as needed to facilitate market adoption and optimal health
plan coverage and reimbursement parameters (see Revenue Chain Management)

Assist you in developing your value proposition or “economic message” based on study results, market adoption trends and anticipated private health plan responses

To put the economic value into your technology’s performance, contact Presscott Associates today!