What is a cost-effectiveness model?
A cost-effectiveness model (CEM) is an analytic framework used to synthesise information on a range of variables (natural history, clinical efficacy, health related quality of life, resource use and costs) in order to estimate the lifetime costs and benefits associated with two or more interventions. These estimates are then used to generate outcomes such as incremental cost-effectiveness ratios (ICERs), which are in turn used to decide which interventions represent good value for money from the perspective of a particular decision maker.
When do you need a cost-effectiveness model?
A robust CEM is required for:
- Health technology assessment (HTA) submission in order to gain national reimbursement recommendations in the UK and other markets (especially North America, Australia, Canada, Sweden)
- A CEM is also required in order to generate, and substantiate, the economic value messages that will form a key component of the product value proposition in order to optimise market access for your product
- CEMs can, and should, be developed at all stages in the product development cycle. Early models can be constructed on the back of early data to inform further data collection and subsequently more advanced launch-ready CEMs
How can we help you?
We can help you to:
- Distil all relevant evidence into a coherent conceptual model
- Construct a CEM in an appropriate software package
- Prepare a detailed report to accompany the CEM
- Organise and host advisory panel meetings to clinically validate the CEM
- Organise and host training events on the CEM for internal or external stakeholders
- We can also provide the relevant text for your HTA submission within the main report or in the relevant HTA template
- Prepare peer-review manuscripts relating the CEM
YHEC can also offer the following economic modelling related services:
- Third party technical validation of a CEM built internally or by another agency
- Localisation of CEMs built by other agencies
- Organising and hosting bespoke training events
An overview of the process used by YHEC to develop cost-effectiveness models