There are always numerous areas where a product can demonstrate value beyond pure efficacy and safety. Consider the impact an asset has on a patients’ Quality of Life, the burden of disease within the therapy area or even a patient’s preference for an oral tablet over an intravenous injection. All these aspects can contribute to realizing the full value of a health technology.
The first step of the i-vbp® process is to create and validate a value framework that captures relevant value for your asset, therapy area and key stakeholders.
This framework is then implemented into the i-vbp® cloud-based platform.
At its core, i-vbp® utilizes Multi-Criteria Decision Analysis (MCDA) methodology to distil all the elements of value relevant to your asset into an aggregated value summary to quantitatively compare assets on a value spectrum between 0 and 1.
Using the quality of the evidence as a modifier, i-vbp® shows you both the value of your asset based on current clinical evidence and the target value that it could achieve with the most robust data package.
The final step is to apply a monetary value, based on willingness-to-pay thresholds or price benchmarks. With that, i-vbp® allows you to assess the value of your assets and generate pricing estimates with one-click on-demand reporting.
