Health Economics
Drawing upon our extensive experience with pharmaceutical, medical device, and biotech companies, we can help Sponsors determine the best timing for initiating economic analyses, whether it be earlier or later in the drug development cycle. Medpace has the capability to conduct standalone or piggyback economic analyses. We have utilized various sources of claims data and electronic medical records (EMR), including Centers for United States (US) Medicare/Medicaid Services, US Veterans Affairs, INTERMACS, and several payer claims and hospital billing databases.
With the cost of drug development estimated at US$2.6 billion by the Tufts Center for the Study of Drug Development (CSDD), an understanding of the economics of a Sponsor’s product is essential to maximize the return on investment. As a full-service partner, Medpace engages with Sponsors from early development through approval and beyond. We have experience in health economic analyses conducted in conjunction with earlier phase trials, in the peri-approval timeframe, and after product launch.
Outcomes Research
Health-related quality of life (QOL) outcomes collected via patient-reported or other means are being used more and more frequently as primary and secondary endpoints in Phase II-III clinical trials in addition to their more traditional use in peri-approval settings. Medpace has experience with, and expertise in, the selection of relevant, validated patient-reported outcomes (PRO) instruments as well as the implementation and analysis of such instruments in all phases of product development through approval and beyond. Our approach to PROs is enhanced by our proprietary ClinTrak ePRO/eDiary technology.
Medpace helps you establish which health economic approaches are best for your product development with:
- Cost-minimization analysis
- Cost-effectiveness analysis
- Cost-utility analysis
- Budget impact modeling
- Competitive marketing claims studies
- QOL/PRO administration and analyses
