Our Process
The process begins with a meeting between HIMA and the company to discuss the technology, patient group, health benefits and cost savings, and the potential payers and strategy for adoption. This discussion will form the basis for the initial modelling and research and provide direction to HIMA on approaches to modelling the technology’s value proposition.
HIMA then begins work on the model structure and research to identify key parameters of interest to the company. HIMA remains in contact with the company to ensure accuracy and relevance while completing a working model and report elucidating the potential health benefits and cost savings of the new technology as well as other significant outcomes. Once the report is complete, the findings are presented to the company and any final changes or requests are incorporated.
On a technical level, our models are based on the methods of health technology cost-effectiveness modelling. They are mathematical models created in excel and are structured as combinations of decision trees and Markov models.
Practically, our models compare the path followed by a patient in the current health care context with the path followed by a patient if the new technology were present. Costs and health outcomes are recorded over an appropriate time frame and compared to show health benefits and cost savings.
Health benefits are quantified using Quality Adjusted Life Years (QALYs). A QALY is equal to a year lived in perfect health and is a core concept in health economic evaluation. Based on the willingness to pay per QALY, additional costs and cost savings are factored in to arrive at a total net monetary benefit for the new technology. In addition to the calculation of this value, the model estimates other quantitative outcomes such as number of cases averted or days to treatment. Qualitative research is also carried out to provide additional evidence for technology adoption.
The final report provides a thorough presentation of the evidence for health system adoption as well as estimates of market size, potential pricing, and advice relating to patient groups, health care payers, and direction for future research and technology improvement. After the final presentation HIMA continues to support companies by updating the models with new data and providing explanatory services and presentations of the models for potential payers.
Our ultimate goal is for the technologies we model to be adopted by healthcare systems in order to improve patient health. HIMA is dedicated to working closely with companies to ensure our models are as effective as possible and we are passionate that beneficial technologies should be adopted quickly. Contact us and see what HIMA can do for your company.