Budget Impact Model (BIM) – is a type of a health economic decision modeling tool that calculates expected extra budget and cost-offsets following an introduction of a new healthcare technology.
Budget impact model is a required part of a health technology assessment and value dossier submission for pharmaceuticals and medical devices reimbursement. It allows healthcare payers to better perform budgeting and accounting. It is also a powerful decision-making tool to perform what-if analysis. For example – evaluate current and future market shares of different healthcare interventions, their related health and outcomes over time.
Our team of experts and health economic modeling will help to conceptualize and program budget impact model interface based on clinical and safety profile of a new product, acquisition costs, administration costs, healthcare costs, societal costs and other expenses from payer or societal perspective.
Digital Health Outcomes predominantly develops budget impact model template in MS Excel, as we believe this is one of the most convenient and user-friendly modeling environments for performing simple budget impact analysis.
Desk research and data collection. Review of published economic evaluations in the target disease area. Development of a new budget impact model in MS Excel.
Introduction of changes to the model structure and it’s parameters. Addition of new comparators, costing methods, sensitivity analysis.
Model migration to DHO eModels Platform – end-to end software solution for model presentation and lifecycle management (Administration, Analytics, Central updating features).
Provision of help-desk support based on daily modeling activities (data collection, updates, model validation and quality assurance).
Development and submission of the single or multi-country budget impact analyses based on local model adaptation.
Transformation of the markov chain based models into prevalence based models. Validation of the existing models.