HEOR data is used in a number of ways.
- Regulating agencies use HEOR data to establish reimbursement structures and to identify successful interventions
- HEOR can guide healthcare coverage and access decisions
- HEOR data can help close the gap between clinical trials results and real-world health outcomes
- HEOR can contribute to identifying interventions that are most effective for specific populations of patients
- HEOR helps pharmaceutical companies communicate the value of their innovations to stakeholders such as physicians, payers and patients.
With precision medicine and value-based care playing an increasingly important role, HEOR is moving from a support function to a central role in pharmaceutical companies. HEOR can inform decision making at many stages in the product life cycle from R&D to pricing, market access, strategic planning to sales strategy and lifecycle management [add link to glossary item lifecycle management].
Impact on medical affairs
The increasing importance of precision medicine and real-world data and with that health economics is also impacting medical affairs professionals, especially field medical. Medical science liaisons, for example, need to have a working knowledge of HEOR and have to be able to have meaningful conversations with healthcare providers about health economic concepts.