What is a budget impact model?
A budget impact model (BIM) is used to estimate the likely change in expenditure to a specific budget holder resulting from a decision to reimburse a new healthcare intervention. These decisions can be local or national depending on the end user. The time horizon in a BIM is rarely more than five years and often one year.
When do you need a budget impact model?
In many countries, a robust BIM is an essential component of any health technology assessment (HTA) submission package, especially those such as Spain, Italy and France where price-volume agreements form a key component of reimbursement decision making. Since 2017, a BIM is also a key component of a National Institute for Health and Care Excellence (NICE) submission package.
A BIM is also an essential component of local reimbursement negotiations. It is a flexible and simple tool that helps local decision makers understand the implications and benefits of switching to your product rather than retaining the status quo.
How can we help you?
We can help you to:
- Construct a BIM in an appropriate software package
- Co-design and implement an appropriate interface for the BIM
- Prepare a detailed report to accompany the BIM
- Organise and host training events on the BIM for internal or external stakeholders
- Prepare peer-review manuscripts relating the BIM
We can also provide the relevant text for your HTA submission within the main report or in the relevant HTA template.
YHEC can also offer the following economic modelling related services:
- Third party technical validation of a BIM built by another agency
- Organising and hosting bespoke training events