A leading life sciences company wanted to generate real-world evidence (RWE) to support health economics and outcomes research (HEOR) and value-based pricing strategies for their products.
Objective
The company sought to understand the real-world effectiveness and value of their products when compared with existing treatments.
Our solution
- Phronesis created a comprehensive strategy to address the company’s objective to generate RWE to support HEOR and value-based pricing strategies. This involved employing a combination of observational and comparative effectiveness research methods to ensure a thorough approach.In the initial phase, we analyzed real-world data from electronic health records, claims databases, and other relevant sources. This was done to assess the real-world effectiveness and value of the company’s products when compared to existing treatments
- Phronesis then conducted a thorough review of the relevant literature and guidelines related to health economics and value-based pricing to ensure the study was aligned with industry best practices
- In the subsequent phase of data analysis, we compared the clinical outcomes, healthcare resource utilization, and costs associated with both the company’s products and existing treatments
- The results of the analysis were then used to develop value-based pricing strategies that aligned with the client’s objectives and the needs of healthcare payers and providers.
Results
By employing RWE generation, the company acquired valuable insights into the real-world effectiveness and value of their products. This, in turn, empowered them to formulate value-based pricing strategies aimed at enhancing market access and increasing income.
- Phronesis’ analysis of the data showed that the client’s products delivered significant clinical benefits and reduced healthcare resource utilization when compared to existing treatments. This has led to improved patient outcomes and overall cost savings for healthcare payers
- The analysis not only yielded crucial information for health economics and outcomes research (HEOR) but also played a key role in supporting decision-making for healthcare payers and providers.
