Economic Modelling for Budget Impact Analysis

The Effect of the Product on Provider Spending

The main objective of developing an economic model and/or a calculator within the budget impact analysis is to create a budget impact tool that presents a product’s influence on provider spending in a simple and transparent manner. This tool could be used for informative purposes by directors of medical institutions and clinicians to show both a technology’s health benefits (based on reliable clinical evidence) and the financial consequences to the provider’s budget.

Retrospective Study of Resource Utilisation and Costs

The first stage of such a project requires gathering cost data for a retrospective study of resource utilisation and costs in order to reflect the local practice. As the scope of the study depends on the needs, together with the Company, we determine the type and amount of centres and clinical experts needed to perform such a survey.

Costs and Benefits of Using Product

The second stage of the project is to develop an economic model evaluating the costs and benefits of the medical technology under analysis. The basic assumptions of the model, including time horizon, perspective, analytical technique, input data, and endpoints, are adapted to the problem under consideration to fully reflect the needs. When building the model, the needs of users  and the customer’s convenience (service providers, doctors) are taken into account. In addition to the model, we also develop a brief description Manual.

Training Budget Impact Tool Users

The final stage of the project is a one-day training course to present the assumptions of the model and  to train users how to use the tool. The training also includes interactive workshops, allowing users to practice different cases (introduction of new data), interpret the results and participate in Q&A.

Budget Impact tool