This blog is the second of a two-part series and highlights two of the four key forces driving changes in the healthcare ecosystem, encouraging medical device companies to rethink their traditional commercial models. Click here to read the first blog.
In the first blog of this two-part series, we highlight two of the four key forces driving changes in the healthcare ecosystem, encouraging medical device companies to rethink their traditional commercial models.
If you could generate billions of dollars in shareholder value, over three years, by revamping your commercial models, would you do it?
When new drugs enter the market, there are often delays before patients have access to the medication. These delays are partly due to patients and physicians being required to complete several steps before a prescription is approved for reimbursement. Alirocumab, a PCSK9 inhibitor which reduces low-density lipoprotein cholesterol (LDL-C)1, has up to a 75% rejection rate by payers2. The natural question that follows is what impact this delay may have on a patient’s health.
Estimating the size of a target patient population is critical for many stakeholders within the healthcare industry. For pharmaceutical companies, a strong understanding of the patient population should feed into research & development, forecasting, physician targeting, and discussions with payers and health technology authorities (HTAs). For payers, the size of the target patient population aids in estimating the budget impact of treatments and the overall burden of disease.
In patients with high cardiovascular risk, statins are the first-line of therapy. Statins, such as Crestor® and Lipitor®, are economical and effective. However, for those patients who do not have a good response to statins, or those patients with genetic disorders that require aggressive cholesterol lowering, treatment with PCSK9is is an option.
Some of the most rewarding work we are involved in at Axtria right now is in the Health Economics and Outcomes Research (HEOR) space, where we are partnering with our clients to help demonstrate the value of their medications and get them to the patients who need them. Challenges in the healthcare space—including rising costs, an aging population, advanced technology, and increased patient awareness of medical options—have resulted in an increase in evaluating medications from an HEOR perspective. Through our modelling and analytical work, we work with clients and key opinion leaders (KOLs) to identify which patients would benefit from various treatment options and the impact those treatments could have on patient health.
As the industry shifts from volume to value based models, it is becoming necessary for Pharmaceutical companies to demonstrate the value their brands deliver through outcomes and evidence based studies. One example of such study is economic burden of inadequate symptom control.
The following blog is an expanded summary of proposed research accepted for delivery at the upcoming 22nd ISPOR Annual International Meeting, Research Poster Presentations - Session I, entitled “Health Care Use & Policy Studies”, to be held in the John B. Hynes Convention Center (Level 2) in Boston on Monday May 22, 2017 from 8:30am-2:30pm. The poster author discussion hour will be from 1:00-2:00pm.
As the industry shifts from volume to value based models, it is becoming necessary for Pharmaceutical companies to demonstrate the value their brands deliver through outcomes and evidence based studies. One example of such study is the economic burden of disease.
There are numerous drugs on the market to lower cholesterol and ultimately reduce cardiovascular risk. Drugs in the statin class, like Lipitor® and Zocor®, are generally effective and economical since many of them are generic. While statins help many patients reduce their cholesterol, there are individuals who experience side effects that prevent them from taking statins altogether or at a high-enough dose1.