SOURCE: Xtalks

Xtalks Webinars

September 26, 2017 07:30 ET

Linking Evidence and Value Strategies with the Right Stakeholder

TORONTO, ON--(Marketwired - September 26, 2017) - In an Xtalks webinar scheduled for Friday, October 13, 2017 at 11am EDT (4pm BST/UK), industry experts from ICON's Commercialization and Outcomes division including Paul Just, Senior Principal of Medical Device Health Economics, and Sarah Clifford, Senior Principal of Clinical Outcomes Assessments, will discuss an approach to evidence-generation strategies in drug and medical device development that enables integrated teams to develop and implement targeted and effective value propositions.

In these days of austerity, a new healthcare intervention, defined as a drug, medical device, procedure, program, or service, must establish a robust and credible value proposition before, or soon after, its introduction into mainstream practice. Various healthcare stakeholders have different requirements for and definitions of value. Satisfying their demands is paramount to an intervention's success and results in more favorable pathways to rapid adoption and market access.

Viewers will gain valuable insight on:

  • Development of stakeholder value maps as a guide for evidence development
  • Encouraging interdisciplinary collaborations to define differentiating value
  • Prioritization of stakeholders as customers for robust evidence
  • Conceptualizing a stakeholder targeted evidence planning process

Overview

While there are many definitions of value, Michael Porter's "health outcomes achieved per dollar spent" resonates well. To apply this requires recognition of what stakeholder spends the dollar, what they get for their investment, over what time period that investment results in a return, or health-related value, and how and who defines that value. Considered broadly, this relates to how various healthcare resources are utilized as well as how they are allocated across the health care system. Once launched, an ideal new intervention should lead to more efficient resource utilization for all stakeholders.

Conceptually, an economic investment in a new drug or device designed to deliver a high-quality health outcome results in a meaningful and reproducible improvement in clinical or humanistic outcomes for patients. An improved health outcome for the patient defines the fundamental value for the new intervention. It is reasonable to expect that an economic investment in a high-quality health outcome should offer an offsetting value, or reason why patients and care providers should have access to that new entity. The reality, however, is that stakeholders' values often are not universally aligned and one or more of them may perceive that their opportunity to obtain value from the new product is somehow compromised. In the United States health care system, this often relates to an imbalance in the perception of the timeline between purchasing the investment and realizing the offsetting value.

The speakers will discuss value return periods, how various stakeholders perceive them, and how this relationship must be mapped out prior to determining what value proposition may be best aligned throughout the health care system, and how that understanding will inform the strategic process for design and implementation of a robust evidence development plan.

To learn more about this complimentary event visit: Linking Evidence and Value Strategies with the Right Stakeholder

ABOUT XTALKS

Xtalks, powered by Honeycomb Worldwide Inc., is a leading provider of educational webinars to the global Life Sciences community. Every year thousands of industry practitioners (from pharmaceutical and biotech companies, private and academic research institutions, healthcare centers, etc.) turn to Xtalks for access to quality content. Xtalks helps Life Science professionals stay current with industry developments, trends and regulations. Xtalks webinars also provide perspectives on key issues from top industry thought leaders and service providers.

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