NanoEcho has, in collaboration with health economic experts, developed a model for health economic analysis of the introduction of NanoEcho’s method in healthcare, with the aim of investigating the potential cost-effectiveness. The health economic model shows that the introduction of NanoEcho’s diagnostic method has the potential to generate health economic gains. This analysis will form an important basis for NanoEcho’s pricing strategy in the upcoming market launch.
The Institute for Healthcare Economics (IHE) has developed a health economic analysis to support decision-making in healthcare regarding the introduction of NanoEcho’s diagnostic method. The goal of NanoEcho’s method is to reliably map any rectal cancer spread to nearby lymph nodes.
The work with the model began with a basic mapping of clinical data, health effects and costs related to today’s rectal cancer diagnostics. In the next step, IHE developed a health economic model to analyse the cost-effectiveness and budget impact of introducing NanoEcho’s diagnostic method. The model is a powerful analysis tool to assess how the introduction of NanoEcho’s diagnostic method affects healthcare costs, as well as how the introduction of the method has the potential to generate health gains in the form of patient benefits.
The health economic model shows that the introduction of NanoEcho’s diagnostic method has the potential to generate health economic gains through cost savings in the form of reduced need for major operations, reduced overtreatment of early rectal cancer, and increased quality of life for patients with early rectal cancer.
“It has been a privilege to work together with IHE’s health economics experts, who developed this important, powerful tool for us based on science. The health economic model not only gives us insights into the cost-effectiveness of introducing our diagnostic method, but also forms the basis for our pricing strategy for our upcoming market launch,” says Linda Persson CEO of NanoEcho.
