Economics is the science of scarcity and health economics is no exception. Healthcare resources are limited, and they need to be allocated rationally. Systematic health economic assessment methods ensure that funded treatments are not only clinically effective but also cost-effective. Thus, the money invested in healthcare brings as much additional value as possible.
Our ambition is to produce information on the effectiveness and cost-effectiveness of treatments and services to enable evidence-based decision-making that promotes rational health care resource allocation. Our comprehensive SHEOR services include effectiveness and cost-effectiveness studies, health economic assessments, and service process evaluations as well as consultation and other specialist services.
Today’s decisions tend to have long-term consequences. And if anything is difficult, predicting the future is, to say the least. Nevertheless, it is wiser to try to predict the consequences of today’s decisions and choices systematically and based on the best available current information than to base the decisions on guesses and opinions.
This is a challenge we are happy to help you with. The potential consequences of different choices can be predicted with outcomes research and health economic modelling. Our specialists are absolute top professionals in this area of expertise.
The natural course of an illness and the ways different treatments modify it can be illustrated through modelling. The models enable the assessment of treatment benefits and costs from various perspectives far into the future. Besides costs, the usual outcomes of interest are patient’s life- expectancy and quality-adjusted life-expectancy (QALY, quality-adjusted life year).
The relative value of different treatments can be evaluated in a cost-effectiveness assessment framework where the treatment-associated costs and the accrued benefits are assessed in unison in the form of cost-effectiveness ratios (ICER). In its simplest form, only the cost burden can be assessed (budget impact model). However, it is wise to remember that neither the cheapest nor the most expensive care may provide the best value for money.
A health economic model is only as good as the data sources and methods used to build it. As a team, we search, analyse, and compile the relevant data from scientific literature, statistics, and other public sources. For the most ambitious projects we can even carry out surveys or conduct real-world effectiveness, biobank or cost of illness studies based on Finnish registry data (RWD, Real-World data).
Even if a study has been conducted according to all the best scientific practices, it has little value if it is left in the drawer or if the information cannot be implemented in practice. Therefore, we place a strong emphasis on communicating the results.
Our specialists have considerable experience on presenting results concisely in spoken presentations, slide shows, scientific abstracts, posters, podiums, and publications. We also provide innovative and interactive tools that make complex information easier to understand and implement.
Learn more about RWD studies and tools on our DSEG page.
Our DSEG services compile, generate, demonstrate, and communicate treatment value and competitive advantage innovatively.
Health economics is our core expertise area that complements and supports our other services. Let us take care of value demonstration. We enjoy big challenges and conquering difficulties, but we are just as eager to take over smaller projects. Regardless of the scope of the project, you can always count on the acknowledged skills and innovative ideas of our specialists.
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