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Health Economic Services
Health Economics
Pricing Strategy and Value Analysis Supporting
Market Uptake
Payers (e.g., Medicare) base their payment rates in varying degrees on the cost of a technology or service. Because of this, a technology’s cost-effectiveness is affected by the manufacturer’s pricing. Argenta’s health economists develop pricing models to help companies assess the value to insurers and providers of a new technology. Argenta’s goal is to enable clients to establish pricing that will provide the company with maximum return while enhancing its attractiveness to insurers and providers.
Market Uptake
Payers (e.g., Medicare) base their payment rates in varying degrees on the cost of a technology or service. Because of this, a technology’s cost-effectiveness is affected by the manufacturer’s pricing. Argenta’s health economists develop pricing models to help companies assess the value to insurers and providers of a new technology. Argenta’s goal is to enable clients to establish pricing that will provide the company with maximum return while enhancing its attractiveness to insurers and providers.
Cost and Cost-Effectiveness Analyses in Support of Coverage & Payment
Payers often consider more than safety and clinical effectiveness when making coverage decisions; they often consider cost due to the potential budget impact of a technology as they are looking at the value a technology may have within the organization’s network of providers and members. Argenta’s health economists develop economic models that demonstrate to payers the costs and cost-effectiveness (value) of new medical products or services. These analyses can be an important part of payer education materials or other applications for coverage or payment, especially if a technology is priced at a premium. Our goal is to show insurers that the new technology will save them money or, if not, that it is cost-effective and will provide substantial benefits to their health plan members.
Cost and Budget-Impact Analyses in Support of Sales to Providers
Many new medical products or services are not reimbursed separately, but rather bundled into payments for another service/procedure. In these cases, payers are not necessarily the audience for a medical technology company’s value messaging. Providers might be the more appropriate audience. Argenta’s health economists develop cost- and budget-impact models to show providers how their finances will be impacted by using a given technology. Our goal is to show providers that a technology will save them money or, if not, that its budget impact will be small, while providing important benefits to patients.
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