The recent market intelligence study by Infiniti Research on health economics data helps a leading laboratory diagnostics company derive health economics data with country-specific operational, clinical, and financial data sets.
Health economics, market access, and reimbursement policies
Health economics helps analyze the size of the contribution of the healthcare sector to the overall economy and identifies the several health issues that have a substantial economic element. The theory analyses consumer, producer, and social choice to understand the behavior of public and private organizations, healthcare providers, governments, and individuals in the decision-making process. Health economics and market access have close applications as one method help develop statistical models of disease recognition and treatment areas and the other designs salesforce models to boost the sales of related drugs and therapeutics in the market. Market access and health economics are gaining immense popularity in the market as it helps bridge the gap between demand-supply of limited resources in the healthcare sector. The market intelligence team at Infiniti provides detailed insights in terms of allocating resources to bridge the gap effectively.
The data analysis gained through health economics helps regulatory bodies understand the price valuations and cost-effectiveness of various drugs and therapeutics that are available in the market. These analytics helps the government formulate pricing and reimbursement policies in the global market. The increasing cost of healthcare is one of the primary challenges that is tackled through health economics and market access evaluations.
Resource optimization at a global level
Developing health economic database with country-specific operational, clinical, and financial data sets on COF business areas, ROI calculators, and COF Wiki KPI’s will help companies gain a holistic overview of the healthcare industry. Furthermore, designing country-specific models will help pharmaceutical companies understand the market landscape of the target region and optimize new product launches. The new models offer information on cost-saving opportunities and resource allocation techniques that will fuel the growth of affordable healthcare products in the global market.
Emergence of personalized medicines
Data analysis through health economics is increasing the availability of personalized medicines in the market. The data collected analyze the genomic information and suggests different methods of drug delivery that will increase patient satisfaction. The application of these data points is valuable in the drug development process and to increase the efficiency and effectiveness of health care delivery.
Solutions and recommendations
The market intelligence team at Infiniti Research provides solutions on health economics optimization, helping stakeholders to apprehend product value and its potential in the healthcare sector. Some of the solutions are listed below:
- Create a database that shows clinical statistics on the incidence rates of disease such as lung cancer, breast cancer, coronary artery disease, prostate cancer, structural heart disease, and stroke
- Provide insights on the average reimbursement rate for each procedure/diagnostic test through robust insurance practices such as statutory health insurance (outpatient), statutory health insurance (inpatient), and private health insurance
- Validate the existing demand-supply gap and allocate the resources according to the specific requirements
- Deliver a reasonable understanding of the demand-supply gap analysis and find measures to curb the gap
Read our comprehensive case study on how we helped a leading laboratory diagnostics company derive health economics data
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