Communicating the financial impact of your product to payers is a vital step in market access negotiations worldwide. However, very often these models can become overcomplicated and hard to use. At Mtech Access, our in-house health economics team are global leaders in developing budget impact models that communicate value clearly and transparently, facilitating effective payer negotiations.
Our process begins with understanding your evidence and commercial objectives, before laying out the “storyboard” of the model. This vital step allows us to ensure that the communication flow and use of evidence is optimised. Once agreed, we develop a fully functional Excel-based model, typically consisting of:
- Model introduction detailing the decision problem, the current unmet need and the value proposition of the proposed intervention
- Quantification of the local/regional population/procedure and eligible patient definition
- Definition of the current treatment scenario, patient outcomes, healthcare resource consumption and associated costs
- Definition of an alternative treatment scenario including estimated uptake rate of the proposed intervention
- The difference between the current and alternative scenario in terms of patient outcomes, resources consumed and associated costs concluding in the budget impact (typically over 1, 3 or 5 years)
- A bespoke summary of model conclusions for the target stakeholder
We believe using a budget impact model should be an enjoyable and engaging experience, for company representatives and payers alike. This is why many of our Excel-based models are converted to interactive Payer value toolkits, most often integrated within Veeva and delivered via iPad.
Click here to see a demo of one of our digital payer value models/toolkits.
Contact us today to find out how we can help.