Most Favoured Nation
To avoid that the price of pharmaceuticals differ too much between countries, pricing referencing is commonly used. For many years, European countries have used International Reference Pricing (IRP) or External Reference Pricing (ERP), whereby the price of a medicine is benchmarked against prices in a selected basket of reference countries. The composition of that basket […]
Faster Access to Innovative Medicines in the BeNeLux
Innovative medicines are evolving one after another at an accelerating pace, yet for patients, access can still feel slow and unequal. Across the BeNeLux countries, different systems exist to bridge this gap, each with its own logic, rules, and pitfalls. In this blog, we take you through Belgium, the Netherlands, and Luxembourg, and explain how […]
Separate or hybrid economic models?
The Pros and Cons of Using a Single Economic Model for Both Budget Impact and Cost-Effectiveness Analyses Those with experience in health economics will likely have their own perspective on this topic. There are multiple advantages and disadvantages to using a hybrid model that accommodates both a Budget Impact (BI) Analysis and a Cost-Effectiveness (CE) […]
Managing Uncertainty via Deterministic Sensitivity Analysis
Simulating the financial impact of introducing a new technology inherently involves uncertainty. As a result, the central outcome should be seen as an indicative reference for decision-makers who must assess whether the implementation of the new technology aligns with its clinical added value. In one of our previous blogs (“How to Deal with Uncertainties“), we […]
Incidence versus prevalence in economic studies
Some of our clients struggle with “incidence” and “prevalence”, specifically their application in budget impact analysis (set up of a patient flow). Based on our daily analyses, we are happy to share our insights. To start, both concepts must be well understood. We will illustrate them using patients with a specific condition, for example, patients […]
AI in Healthcare: Risks and Opportunities
No one involved in healthcare, including the patient, can ignore it any longer. Artificial intelligence (AI) is deeply embedded in modern healthcare and is evolving rapidly. AI has already provided added value in the clinical interpretation of medical imaging, identification of chronic conditions based on algorithms, and much more. In short, thanks to AI, our quality of […]
The value of a proven pricing structure
If a pharmaceutical company targets to sell a pharmaceutical specialty in Belgium, the Minister of Economy must first approve a maximum price, after assessment by the price committee consisting of 15 members. The applicant must propose an ex-factory price for each registered packaging they wish to trade in Belgium. If a reimbursement procedure is initiated […]
Model hygiëne
If you’re familiar with simulation models you will undoubtedly recognize this… Once the simulation model is made available, you dive into it with the usual enthusiasm. Selection options are traced and (dynamic) input fields and result areas are located. At first glance, everything looks flawless. The model seems to be working well and the supplier […]
Cost Minimisation Model
What is the added value of innovation? When the concerned innovation is a potential gamechanger in healthcare, patient’s benefit are forefront and immediately noticed. However, sometimes the benefit is only indirectly noticeable for the patients, e.g. in case of an improved drug administration method during surgery, which can facilitate the procedure, while the patient himself […]
How to deal with uncertainties?
As we all know, simulation models should predict the targeted outcome(s). The outcome can be the estimated budget, health gain (e.g. OS prediction) or any other quantification related to the subject of the analysis. As valid for almost all models, the designer should build a model that will quantify the potential effect without losing the […]