SOURCE: Cutting Edge Information

Cutting Edge Information

April 07, 2015 09:30 ET

Health Economics Teams With Global Responsibilities Dedicate 28% of Time to Developing Information for Payers

RESEARCH TRIANGLE PARK, NC--(Marketwired - April 07, 2015) - Health economics and outcomes research (HEOR) teams are responsible for a number of activities that support a company's broader market access efforts. While there are other key stakeholders in health economics, including patients and physicians, a new study by life sciences intelligence firm Cutting Edge Information found that these global-level groups spend an average 28% of their time developing information specifically for private insurers and government payers. 

The top priority for most health economics groups is to ensure that relevant pharmacoeconomic information is available for managed markets account managers to distribute to payers. As such, some groups spend up to 42% of their time working on data for government payers and 40% on data for private payers. 

"The increasingly demanding payer marketplace means that health economics and outcomes research groups must be prepared to deliver the right data," says Jacob Presson, senior analyst at Cutting Edge Information. "Being quick to respond to payer requests for specific health economics data can make a significant difference in the commercial success of a product."

According to Cutting Edge Information's newest report, "Building World-Class HEOR Teams: Creating Convincing Value Propositions for Payers," the driving factors for the increased usage of HEOR data among payers include ongoing economic duress in the European Union, as well as the emergence of the "niche buster" market of high-priced products that treat orphan diseases. Health economic analyses that include a budget impact element are increasingly in demand.

"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 around the world. The report's research allows health economics groups to benchmark their activities against the rest of the industry and to ensure that they are effectively supporting their products. Highlights of this study include:

  • Benchmarks showing HEOR spending from 2013 to 2015 per company and on a per-product basis
  • Data showing HEOR group oversight, leadership, and funding sources
  • Executive perspectives on demonstrating the value of HEOR internally
  • Insights on how to ensure that stakeholders beyond payers, such as patients and physicians, are understood when developing health economics research.

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

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