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Health Economic Outcome Research: An aid to better therapeutic decision making

Health economic and outcome research (HEOR) consist of pharmacoeconomic research and health technology assessment activities. HEOR provides evidence based justifications and profitable value of healthcare interventions and therapies. HEOR supports health care authorities to understand the impact of therapies and treatment options. HEOR plays a vital role in internal decision making process and deliver useful information for licensing and R&D, as well as pricing and market strategies. It also helps to define reimbursement with existing and newly introduced medical technologies.

The cost and demand of healthcare is increasing day by day due to increased technology, standard of living, life expectancy and increased demand in heathcare quality and services. High pricing of medicines and limited resources facilitates the need of Pharmacoeconomics. It reduces spending of resources without any competitive benefits at all the stages in the development of medicines i,e when they are researched, produced, and marketed. It supports clinical pharmacologists in promoting rational prescribing as well evaluates perspective, time horizon and cost.

Pharmacoeconomic evaluations are stepwise starting from problem identification and determination of study perspective to find out the specific treatment options, thereby selecting appropriate model. It measures input and output of investment, identify the resources necessary to conduct the analysis and establish the possibilities for the outcomes to the alternative. It also designs a decision tree, conducts analysis and present the result to acknowledge any assumption. The methods involved in pharmacoeconomics helps in interpreting issues related to cost & health benefits and weigh the cost of alternative drugs against the outcomes and policies.

Health technology assessment (HTA) is an evaluation of effects and impacts of health technology systematically. Its a multidisciplinary art to measure the socio-economic, organizational and ethical issues. HTA evaluates evidence of safety, effectiveness of real world and cost, patient reported outcomes as well as social, legal, ethical, and political impact and also long term consequences of a health care technology. The main objective of conducting an assessment is to inform a policy in decision making. Recently a reference document on HTA has been developed by World Health Organization which details about the concept and various support programmes of HTA.

Health economic and outcomes research acts as an important tool to support clinical decisions, individual patient treatment, formulary management, contribution to medication policies, resource allocation. HEOR supports drug inclusion or exclusion to the formulary for a cost effective treatment. Economic modeling and techniques of pharmacoeconomics supports the treatment of patient and analyze them by means of cost minimization analysis, cost effectiveness analysis, cost benefit analysis and cost utility analysis.

At WorkSure® we provide clear, quantifiable, and prescriptive methodology to decide among alternative outcomes in clinical decision analysis through its economic modeling capabilities. We recognize, measures, and relate the costs and consequences of drug therapy to healthcare systems and provide well trained, highly experienced team of economists, medical professionals and biostatisticians. We are highly specialized in Pharmacoeconomics studies, modelling in health care budget analyses. We have successfully completed Pharmacoeconomics projects for various healthcare institutions to optimize their resources and activities accordingly. We relates patients, society, and economy to drug therapy. We establish guidelines or standards of practice, creates a cadre of trained producers and consumers of Pharmacoeconomics work. We provide education on the relevant features of this discipline for practitioners, private sector executives and to government officials.

Medical digital marketing: bridging the gap between care providers and end users

Medico or healthcare digital marketing involves use of IT and digital tools and strategies for promotion and sales of products related to pharma/medical/ biotech industry. Apart from direct product promotion, digital marketing can be used effectively to build a brand or establish an entirely new therapy segment.

With rapid digitization and internet reach over last decade, the conventional marketing strategies no longer provide the quintessential edge to their clients. Although healthcare is slow to embrace the digital marketing, it is fast catching up with other sectors which depend heavily on sales and marketing.

Digital marketing is equally effective in addressing both the paradigms of healthcare i.e. doctors and patients. Whether there is a question of providing recent updates to single physician practices using customized digital content on iPADs or running a mass patient education campaign, software tools can handle myriad of tasks. Mass mailers with targeted messaging and subtle branding are now routinely being used to spread the massage among larger audience.

Conventional marketing tools such as product brochures, catalogs and visual aids can now easily be adapted and reproduced in the digital format. These are then circulated to the desired audience instantly without the need for taking a formal physical appointment for providing information to the doctors. Providing sponsored updates on regular basis on any therapeutic area or relevant topic is also a useful marketing strategy. This can be easily accomplished using various digital channels such as newsletters, mass mailers and online blogs.
Apart from the one-way communication, IT tools now act as listening posts for customer feedback. Although, this does not strictly fall under the ambit of marketing, yet collection and analysis of customer feedback (hospitals/physicians and patients) is an important function of after sales activities. This may be particularly of interests for medical device manufacturers.

With the advent of miniaturized IT devices such as smart phones and tabs, healthcare providers (pharma/hospitals and device companies) can propagate the desired message to patients located at remote places. Specialized apps or applications which double-up as marketing tools, are increasingly being used for promoting the product. Mind boggling spread of internet has fueled social media growth over last few years. Needless to say that social media has further helped to bridge the ever decreasing gap between care providers and end users. Pharma companies can now run social media campaigns to build product awareness among the medical fraternity. Large amount of relevant messaging can simply be uploaded on these sites which can be viewed by the concerned stake holder at their convenience.

Digitalization in healthcare marketing has opened new marketing avenues and provided freedom to do such activities in innovative ways. However, with freedom comes great responsibility. To ensure this, digital marketing is governed with laws and ethics. Organizations have to follow the promotional guidelines and codes given by iFPMA and WHO to maintain sanctity of information.

WorkSure® is a leader in Med-Digital marketing with strong medical domain and best IT infrastructure. We develop and define strategies to improve the visibility and reach of the product, provide guidance in KOL management and scientific activities. Our on demand or full time engagement models provide flexible approach of client association. This enables us to cater to wide gamut of healthcare providers that include pharmaceutical/medical device companies, academic institutions or hospitals.