RESEARCH TRIANGLE PARK, N.C.--(BUSINESS WIRE)--Capable HEOR groups are key to market access success in today’s saturated and complex medical device environment, finds Cutting Edge Information.
The new research found in, “Health Economics for Medical Devices: Addressing Payer Concerns with a Successful Value Proposition,” revealed that medical device organizations create dedicated HEOR functions or subfunctions to maximize the group’s internal and external reach. These dedicated functions exist at both the global and the country levels. Among surveyed device companies, the majority (73% of global groups and 67% of country-level groups) report having a dedicated HEOR department.
Team alignment and oversight are also crucial to supporting effective health economics and outcomes research. Surveyed medical device companies do not report universal functional oversight for their HEOR teams. However, the majority of surveyed companies report market access oversight. Half of surveyed global HEOR groups report market access oversight, as do 60% of country-level teams. Other surveyed groups are aligned under clinical and R&D, executive boards or marketing departments.
Market access departments’ responsibility for HEOR is continuing to grow among surveyed device organizations. One surveyed company reports future plans to align its health economics teams under market access. The executive explained that, by positioning HEOR under market access, teams will be more unified: “There are a lot of core competencies that have to be honed in market access no matter what product category or therapeutic area you’re in. Sharpening these skills in a more unified way — under a cross-category market access group — is going to be more efficient for us as an organization.”
The study, “Health Economics for Medical Devices: Addressing Payer Concerns with a Successful Value Proposition” (http://www.cuttingedgeinfo.com/research/market-access/medical-devices-health-economics/) shows device companies how HEOR teams can best support Class II and Class III medical devices throughout their lifecycles.
Armed with the findings from this study, medical device HEOR teams can:
- Outsource HEOR activities to fill knowledge gaps and provide data to meet payer demands.
- Structure medical device HEOR groups to meet payer requirements for information.
- Allocate budgets and resources effectively for HEOR studies.
- Understand the annual costs of supporting HEOR for medical device products.
For more information about medical device health economics and outcomes research, contact Cassie Demeter at 919-403-6583.