What gives US Budget Impact Models the competitive advantage?
We provide critical insights into your product's unique impact within the US healthcare system's financial framework, enhancing your efficiency in strategic planning, value communication, and future modeling adaptability.
A pharmaceutical company looking to expand its presence in the US faced difficulties understanding the financial impact of their products within the local market. Without market-specific insights, their strategic planning efforts lacked precision, weakening their competitive stance.
Solution
We developed a robust Budget Impact Model (BIM) tailored for the US market. Such a model would offer clear insights into financial outcomes, enhance stakeholder communication, and provide the flexibility needed to remain competitive and agile in a fast-evolving healthcare environment.
Uses US-specific cost inputs, like drug acquisition and healthcare resource utilization, for a more accurate financial forecast than global models with generalized data.
Localized parameters
Incorporates region-specific variations in healthcare costs and patient demographics, offering a clearer picture of budget impact across different states and healthcare systems.
Patient population segmentation
Allows for more precise assessments tailored to US-specific patient subpopulations, unlike global models that often generalize across diverse regions.
Scenario analysis
Enables stakeholders to model US-specific scenarios, such as changes in reimbursement policies and state-level healthcare reforms, providing more relevant insights for decision-making.
Compliance with HCEI guidelines
Designed to meet the requirements of healthcare economic information exchange with payers, as specified by AMCP dossier 5.0 and payer communication policy.
This is so much easier to use in meetings! I’m able to show our product’s impact on a facility’s budget really quickly and make convincing arguments yet have all the inputs I need from the budget impact model available if necessary.
At FIECON, we use advanced technology, and AI to enhance the quality of our health economics and market access strategies. By automating processes and improving data analysis, we deliver precise, tailored solutions that optimize product commercialization and ensure strategic success.
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