Devices vs. pharmaceuticalsJan 3, 2022
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Comparing clinical & economical value of a device vs. a pharmaceutical
Reducing unnecessary costs in healthcare is critical to address the growing budgetary pressure on health care expenditures.
Hospitals are motivated to find opportunities to reduce costs without compromising patient outcome. Reimbursement of medical interventions in hospitals is in most instances defined prospectively and remains fixed regardless of the actual costs of care for an individual patient. Optimization of inpatient processes and expenditures is therefore crucial in finding the right cost balance.
To provide recommendations, Axtalis performed qualitative research in 5 hospitals to identify the responsible parties and value-criteria for clinical and economical decision making, the opportunities to change current practices and the dynamics between stakeholders ‘doctors, pharmacists, financial management and reginal/national associations).
A qualitative description of the disease landscape with 2 alternative treatment approaches was reported together with a cost minimization analysis to discuss which of the 2 approaches was, from a hospital perspective, the most valuable.