Health economic evaluations are essential for demonstrating the value of medical technologies to healthcare providers, payers, policy-makers and health technology assessment (HTA) bodies. However, medical devices present unique challenges in generating robust health economic evidence, particularly due to rapid innovation cycles, user-dependent outcomes, short follow-up periods, documenting assumptions, appropriate costing methods, and limited availability of high-quality data.
Several commonly used methods of health economic evaluations of medical technologies include cost-consequence analysis, cost-effectiveness analysis, cost-utility analysis, and budget impact analysis.
In this White Paper, MTRC explores the challenges, highlights methodological nuances of various health economic evaluations, and offers best practices to help medical device companies develop health economic evidence for medical devices more effectively.
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