Market Evaluation
Market valuation for ground breaking drugs and innovative medical devices require far more than selecting a research report off the shelf. Detailed knowledge of the usage levels, costs, and outcomes of existing treatments can be used to develop estimates of the financial value of a given device design or pharmaceutical with an assumed clinical effectiveness. Rather than rely on 'market' valuations that just tell you "quantity" of pharmacy or device in a generic snapshot, we use tightly defined clinical scenarios to identify the potential situations in which a new pharmaceutical or medical device product might be most appropriately utilized. We combine these scenarios with reputable peer-reviewed literature, government survey data, and our internal and external databases to quantify the occurrence and costs involved with these scenarios.
Because the value to payors is frequently determined as much by the impact on a patient's overall treatment pattern as the cost of an intervention or device itself, AHRM’s approach to valuing the financial impact of a new pharmaceutical or medical device is based on measuring the overall cost impact on a patient's treatment. The cost of a diagnostic test, for instance, might be of minor significance on the grand scale, if the test helps avoid costly surgical procedures for many patients.
A market valuation study will also help analyze the impact of designing a product or device for a narrowly defined niche where the value of each treatment is extremely high compared to using a more general design where the patient population is larger but the average benefits are less. This type of trade-off is common to many new products and technologies with multiple applications.
The results of a market valuation study can also be used to make estimates of a reasonable price for new products to determine if research investments will be profitable. This information can also be helpful in identifying some financial barriers to diffusion. All of these factors can have an important impact on the success of a new product in penetrating the market after it has received FDA approval
Client
Testimonial
"Our company worked with Amy Hayward and her team on a Phase III global
clinical trial. The particular study I am referring to had multiple end points
requiring a tight turn around with several hospital based sites throughout the
US and internationally.
I found them to be extremely organized, efficient and professional. The team, under Amy’s supervision did
great work for us on this study and I was very pleased with the results.
We were able to achieve high obtainable rates in terms of data collection and
management on our randomized patients as well as adhere successfully to the time
frames and deadlines outlined in the protocol.
They were reliable in terms of communication and feedback, and were diligent
about meeting all of their obligations under the contract.
I would recommend them based on the successful completion of all deliverables we
expected of them in terms of this project."
Senior Clinical Trial ManagerOmnicare
