Health economics is an essential part of the value proposition for any medical technology, demonstrating whether technology is cost saving or cost effective for the healthcare system.
Typically, the original economic models are developed for the United States (US), United Kingdom (UK), or German healthcare systems (the typical locations for the start of commercial medical technology activities). However, with gradual penetration into different European markets, the need arises to develop a professional adaptation of the global health economic model which would address the needs of local payers, Health Technology Assessment (HTA) and reimbursement stakeholders. Healthcare systems and costing methodologies vary between countries, and health economic data are always country specific.
MTRC is one of the leading European consultancies in the field of market access and Health Economics and Outcomes Research (HEOR) services for the medical technology industry. We can apply our knowledge of the health economic requirements of different stakeholders in Europe to fast and cost-efficient adaptations of health economic models to suit the needs of different EU countries.
We offer two types of services
We can provide two types of services in relation to health economic model adaptations in Europe.
For this service, MTRC provides the required data (typically cost data) while the update of the model and development of the report is the responsibility of the client
MTRC would typically utilize a data collection form as provided by the client
For this service, MTRC is fully responsible for the collection of the required data, running the analysis and developing the report
The key steps in the health economic adaptation project are outlined below. During each stage of the project, we validate our approach and data selection with our client.
Understanding the scope of model adaptation, the relevant process in the country, specific requirements of the stakeholder in the country, and scope of data adaptation
Collection of the data to inform the local model: epidemiological data (if required), resource use and cost data, utility (quality of life) data, and specifics of analytical approach (discount rate, willingness-to-pay threshold)
Building the model in MS Excel, performing quality checks and external validation to determine the performance of the model
Development of the report or publication using International Society for Pharmacoeconomics and Outcomes Research (ISPOR) Good Practice Guidelines
In which situations might you need a local health economic model in Europe?
Health economic data became an integral part of many market access processes for medical technologies in Europe. The key processes with the need for local health economic evidence are summarised below. Besides these particular processes, a common need exists to articulate the economic value of the technology to stakeholders in any healthcare system.
- Creation of a novel procedure (INAMI) code or creation of a novel material code in the List of implantable and invasive devices
- Different assessment programs at the National Institute of Health and Care Excellence (NICE)
Support of decision-making by the national payer, NHS England (for Prescribed Specialised Services)
Support of local decision-making by local payers (Integrated Care Boards)
- Creation of a novel procedure code and inclusion in the Basic Health Insurance
- National and mini-HTA as part of the “New Methods” framework for the introduction of innovations
- Support to regional or national HTA for medical technology
- Application to the Swedish Dental and Pharmaceutical Benefits Agency (TLV) in relation to the “Orderly introduction of medical technologies” process
- Support to national decision-making about coverage of the procedure within the statutory health insurance by the Federal Office of Public Health
Technological coverage of our services
We provide services for major types of medical technologies:
Our team has worked on hundreds of reimbursement/HEOR projects within different clinical and technological areas, including heart valve replacement, minimally invasive and open heart surgery, coronary, cerebral and peripheral stenting, coronary diagnostic and imaging techniques (fractional flow reserve, intravascular ultrasound), coronary, cerebral and peripheral vascular thrombectomy, implantable and extracorporeal ventricular assist devices, clinic- and home-based dialysis, extracorporeal membrane oxygenation, apheresis, obesity surgery, hernia and reconstruction surgery, tissue products and skin reconstruction surgery, negative wound pressure therapy and medical bandages, neurostimulators for different indications, cell therapy, rehabilitation devices, devices for minimally invasive and open spine surgery, embolization procedures, glucose monitoring, use of fusidial markers, radiotherapy, and endoscopy, amongst others.
Geography of our projects
MTRC is a provider of multi-country European projects. We have worked on the projects in 34 European countries
MTRC in numbers
An extremely specialised boutique consultancy with a global impact
Our timelines support your timelines
The analysis is delivered timely to support your market access activities:
Provision of data for model adaptations (MTRC provides cost data only while analysis and reporting remain the responsibilities of the client) takes six to eight weeks.
Full model adaptation (data, analysis, and reporting) takes three to four months.
Get in touch
Contact us to discuss your needs and learn about our services