Economic methods used in health technology assessment

Result code in IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F62690094%3A18450%2F18%3A50014268" target="_blank" >RIV/62690094:18450/18:50014268 - isvavai.cz</a>

Result on the web

<a href="http://dx.doi.org/10.15240/tul/001/2018-1-008" target="_blank" >http://dx.doi.org/10.15240/tul/001/2018-1-008</a>

DOI - Digital Object Identifier

<a href="http://dx.doi.org/10.15240/tul/001/2018-1-008" target="_blank" >10.15240/tul/001/2018-1-008</a>

Result language

angličtina

Original language name

Economic methods used in health technology assessment

Original language description

Early decision-making process about the development of a new product is essential for any company in order to gain relevant financial returns and thus prosper. Therefore managers need to have at their disposal appropriate assessment tools which assist them in their decisions about the development of the new product and guarantee that their product will generate a desirable profit. The purpose of this review focuses on the exploration of the economic methods, commonly used in the economic evaluation as part of health technology assessment for medical devices. On the basis of the selected original studies, the authors summarize the main economic methods used in the decision-making processes about the development of new medical devices and discuss their benefits and limitations. The methods employed in this study include a method of literature search in the databases Web of Science, MEDLINE, and Embase, and a method of comparison and evaluation of the results. The findings of this study indicate that the most preferred methods used in the economic evaluations of medical device development are cost-utility analysis and cost-effectiveness analysis. In addition, the Headroom Method is recommended to be used in the early assessment of the medical device development since it uses broader estimates of potential by determining the maximum reimbursable price of the new device. Selection of each method then depends on the research question, the condition of interest, and the availability of data on outcomes. There is an urgent need to conduct the early assessment of the medical device development in order to avoid negatively high costs and prevent a failure rate at each stage of the development process.

Czech name

—

Czech description

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Type

J_imp - Article in a specialist periodical, which is included in the Web of Science database

CEP classification

—

OECD FORD branch

50204 - Business and management

Project

<a href="/en/project/GA17-03037S" target="_blank" >GA17-03037S: Investment evaluation of medical device development</a><br>

Continuities

P - Projekt vyzkumu a vyvoje financovany z verejnych zdroju (s odkazem do CEP)

Publication year

2018

Confidentiality

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Name of the periodical

E+M. Ekonomie a management

ISSN

1212-3609

e-ISSN

—

Volume of the periodical

21

Issue of the periodical within the volume

1

Country of publishing house

CZ - CZECH REPUBLIC

Number of pages

11

Pages from-to

116-126

UT code for WoS article

000429786100008

EID of the result in the Scopus database

2-s2.0-85045048512