The health of a person is something very delicate. There are different types of treatment for a specific health issue. However, this may be painstaking for healthcare officers to choose which treatment is the best for the patient based on economics and the final result.
Health economic and outcome research studies are the magic tools used to compare and identify the best option available.
Health economic outcome research studies act as a case study by giving a forecast about the cost of the treatment, the state of health of the patients, the treatment effects, and the treatment side-effects.
Contribution of HEOR in the development of medicines
Health economic and outcome research studies also contribute to the development of medicines. According to studies, it may take up to 12 years and $2.6 billion for a drug to be available on the market. All these years of hard work are made up of tons of trials for the best outcome. Certain medications have no other development option but to go through this long phase and costly process.
Nevertheless, with health economic outcome research studies, scientists, chemists, governments, and stakeholders make better decisions about developing new medicines. Besides, pharmaceutical drugs are undoubtedly available for almost every disease.
However, several health illnesses are cured with practically the same pharmaceutical drugs. Thanks to the health economic and outcome research (HEOR), this opportunity has become possible, which has helped health decision-makers forecast outcomes of using the same medicines.
Another contribution of health economic outcome research studies is the process of drug repurposing. Unfortunately, it is not possible to use the same medication to treat all existent illnesses on earth. Therefore, with the hard work and high cost required to develop new treatments, drug repurposing is the most considered option.
Drug repurposing is the procedure of producing or amending the already available and approved drugs to treat a different disease. Drug repurposing takes, of course, less time and is cost-beneficial.
Additionally, drug repurposing is also considered as an emergency escape. It is the method mostly used to develop medicines for emergency treatments like a pandemic. This technique will avoid wasting time as the available database is proven and tested on humans.
Drug repurposing is also used for the research of medication of difficult to treat diseases to incurable diseases. Drug repurposing has allowed researchers to minimize failures in the development of drugs. This developing drug method is the most efficient because of its benefit to avoid wastage, recycling, and less time-consuming capacity.
Why is there a need for HEOR Studies?
HEOR study is an essential tool in finding the efficacy of treatment vis-a-vis the treatment cost. HEOR fulfills the following needs:
- Helps in designing treatment strategies considering the cost.
- It helps in minimizing evidence gaps.
- Provide more authenticity to the data generated through randomized controlled trials.
- Identify changes and markets and help the companies to respond to those changes.
Types of outcome analyzed under HEOR
Health economic outcome research studies utilize three types of outcomes: economic outcome, clinical outcome, and the humanistic outcome to determine the final product and to make it available on the market. Trusted and approved principles initiate the production, economy, and the mechanism of treatment.
Three examples of outcome research studies:
Human life is not comparable to monetary value. That is why it is highly crucial to take into consideration the financial cost of medical treatments. The development of medicines, treatments, vaccination, and clinical costs has to be cost-effective. It can determine if the treatment can be affordable for everyone and avoid unnecessary expenses with economic outcomes.
The clinical outcome determines the effectiveness of treatment. With clinical development, it is possible to forecast the patient’s health status upon a treatment while also side effects that may arise with the treatment. Besides, it also analyses the amount of a disease or symptoms of a particular condition among humans.
The development of medicaments does not end with the production. It is incredibly vital to know about the health quality of life of the patients. Humanistic outcomes also determine the choice of treatments available as most patients prefer to ignore temporary cures and instead opt for permanent treatment.
It is essential to know about the efficacy of drugs developed for various diseases. But the use of clinical trials can be dangerous and damaging, but you do not know about the impact of the medication and the cost if you have to start the research and production all over. Health economic outcome research studies help to eliminate all these obstacles in the science and medical field.