Business Decisions for New Medical Devices: The Headroom Approach

The medical sector is different from other sectors in at least two ways. First, because statistics of illnesses are kept and second, that healthcare providers are increasingly willing to seek value-for-money from the technology they purchase. Whether this is simply the willingness to pay as a private patient for a private room in hospital, or the systematic approach pioneered by NICE, most systems have an increasing awareness that value matters alongside safety and performance.

We have set out to present a simple tool of identifying the potential of medical devices:

• this can be applied at a very early concept stage when deciding whether to pursue the idea;
• with some theoretical development, extends the application to the stage when the product is about to be placed on the market;
• and finally, when making development decisions, the approach that accounts for uncertainty can help to decide when to invest further in a product.

Not all forms of risk are covered by this theory, but it does link the uncertainty a business carries forward to the strength of the statistics from clinical and other trials that the product may have undergone.

This MATCH course offers with appropriate examples:

• Training with a simple tool – the Headroom Method. For economically evaluating your product and the associated intervention from a healthcare service perspective;
• An extended model that applies clinical trials data – with its spreads of uncertainty. To introduce the concept of the maximum reimbursable price;
• Training in the use of the maximum reimbursable price in price-setting decisions;
• A further extended model to apply the concept of maximum reimbursable price and trials uncertainty to investment decisions and the analysis of risk carried in new product development;
• An introduction to trials evidence and basic methods to search for and analyse it;
• Supporting material.

Who should attend:

• Industry and investors seeking informed product developement decisions based on health technology assessment;
• R&D Managers wishing to integrate health economic considerations into New Product Development Systems;
• Marketing Managers seeking to differentiate products based on cost-effectiveness;
• Sales Managers seeking to articulate the value proposition of innovative products.

Attendees will receive:

• Case study/Demonstaration - highlighting practical applications;
• An opportunity for hands-on use of the Health Economics Tool and training;
• A complimentary copy of the MATCH Guide "Evaluating Health Devices".

The course will provide you with a mix of practical skills and capabilities for reaching users and also introduce you to ways of thinking that will ensure you are able to present your findings coherently to those inside your organisation and to make the case robustly to those outside.

This course assumes no prior specialist training, although some background in statistics would be very useful.

Book a Place: Click Here!

For information on MATCH courses please contact Elizabeth Deadman at match@brunel.ac.uk