Survey finds the impact of HEOR data on formulary decisions significantly higher in Europe
Research Triangle Park, NC – 4/13/2015 – New research by pharmaceutical intelligence firm Cutting Edge Information shows that European payers are still the most important targets of health economics and outcomes research (HEOR) when it comes to getting a product onto formularies. Achieving appropriate formulary placement is essential for making access to new therapies as easy as possible for patients.
According to the survey results, HEOR groups at pharmaceutical companies rate the impact of HEOR on formulary decisions significantly higher among European stakeholders – such as The National Institute for Health and Care Excellence (NICE) in the United Kingdom and l'Assurance Maladie in France – than their American counterparts.
"As a product enters the market, HEOR groups must demonstrate a brand's value to payers, the commercial gatekeepers," said Jacob Presson, senior analyst at Cutting Edge Information. "Overall, surveyed pharmaceutical teams agree that HEOR has the greatest impact for European payers with average impact ratings approaching the highest rating level."
Some US payers are recognized by survey takers as being more receptive to HEOR study results and will take these findings into account when making formulary decisions. On the other hand, other payers prefer to rely on traditional clinical results for determining formulary position. These payers can be skeptical of certain metrics in health economics, such as quality adjusted life years (QALYs) that are used predominately by NICE in the UK.
"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 resource metrics allow health economics groups to benchmark their activities against the rest of the industry and to ensure that they are effectively supporting their products. Highlights 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.