COST EFFECTIVENESS ANALYSIS

We advise our client that it is best, if possible, to gather the necessary data to help determine a product’s cost effectiveness during the clinical trial process. If you were not able to collect such data during the clinical trial and your product has received FDA approval and you now find that insurance companies are rejecting payment for the product and/or associated medical procedures we can help correct this problem. Payors have budgetary requirements and must be able to demonstrate to their shareholders and beneficiaries that they are providing value for dollars spent. Use our extensive experience communicating with insurers and the Health Care Financing Administration to help determine the best way to position your product to obtain the reimbursement that may be possible within our complex medical payment system.

Cost Effectiveness Analysis Benefits:

• Prepare relevant decision models, early in the product concept and animal study phase to determine the benefit to the patient and financial success of the product.
• Direct and monitor the clinical trial process to ensure accurate and representative collection of data.
• Create data collection methods that will track the patient’s overall outcome beyond the intervention.
• Develop an article suitable for publication in a peer review journal.