Early Health Economic Assessment/Early Health Economics Modelling

Early economic models are preliminary tools designed to provide insights into the likely cost-effectiveness of treatment alternatives under various future scenarios. These models are particularly useful for evaluating the potential cost-effectiveness outcomes based on different results from ongoing or planned clinical trials and varying costs, including the price of new interventions. They help stakeholders understand how changes in model parameters might influence the overall cost-effectiveness results.

Key uses of early economic models include:

– Assessing Cost-Effectiveness: Predicting the likely cost-effectiveness of treatments based on different clinical trial outcomes and cost scenarios.

– Identifying Key Parameters: Determining which input parameters most significantly affect the cost-effectiveness results, helping to prioritize areas for further research and data collection.

– Informing Strategic Decisions: Aiding in decisions related to target populations, pricing strategies, and the prioritization of further research efforts.

Early models often evolve into more comprehensive ‘final economic models’ that support published cost-effectiveness analyses and submissions for reimbursement once definitive clinical trial results are available. Despite their preliminary nature, the simplicity of early models can be a significant advantage. By focusing on the central drivers of economic analysis, often based on expert judgment, early models provide valuable early-stage insights that can guide strategic planning and resource allocation in healthcare development.