Nine out of 10 Pharmaceutical Companies Now Have Dedicated Health Economics and Outcomes Research Groups

RESEARCH TRIANGLE PARK, NC--(Marketwired - April 03, 2015) - In today's competitive pharmaceutical and medical device marketplace, reimbursement and formulary success is crucial to a product's commercial triumph. According to a new report by life sciences intelligence firm Cutting Edge Information, dedicated health economics and outcomes research (HEOR) teams that develop data to demonstrate a cohesive value proposition to payers are a vital part of a successful managed markets strategy.

The study, "Building World-Class HEOR Teams: Creating Convincing Value Proposition for Payers," found that 89% of companies now have some type of dedicated HEOR group within their structure. Global health economics teams at large companies provide support for country-level managed markets teams. Country-level teams often conduct independent health economics research in response to specific payer needs.

"A significant advantage of dedicated groups is the ability to develop multiyear plans that fully explore the health economics and outcomes of each company's products," says Jacob Presson, senior research analyst at Cutting Edge Information. "On average, surveyed teams dedicate the largest headcount to HEOR analysts -- the essential team members responsible for collecting and working with pharmacoeconomic data."

Dedicated HEOR teams can interface directly with managed markets account managers to ensure that they are trained to either deliver health economics data to payers or to bring in health outcomes liaisons or medical science liaisons that specialize in presenting comprehensive pharmacoeconomic data.

"Building World-Class HEOR Teams: Creating Convincing Value Proposition for Payers," available at http://www.cuttingedgeinfo.com/research/market-access/health-economics-and-outcomes-research/, highlights HEOR group structure, staffing and spending at pharmaceutical and medical device companies. This research allows health economics groups to benchmark their activities against the rest of the industry and make sure that they are supporting their products effectively. Highlights of the study include:

• Benchmarks showing HEOR spending from 2013 to 2015 on a per-company and per-product basis.
• Data showing percentage of time spent on 13 HEOR activities, allowing teams to direct their focus more effectively.
• Data illustrating health economics group oversight, leadership, and funding sources.
• Executive perspectives on demonstrating the value of HEOR internally.
• Analysis on five common HEOR study types, including typical study cost, number of studies conducted for brands and study duration.

For more information about health economics and outcomes research, contact Rachel Shockley at 919-433-0211.

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