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Who is going to pay for your innovation?
For new treatments, the payment environment can be complicated. In the UK, the National Institute for Clinical Excellence (NICE) is responsible for performing the economic assessment of novel technologies, and making recommendations to the NHS. NICE uses QALYs to assess the impact of an intervention on both the quantity and quality of life. This document outlines the different routes to procurement in the UK.
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Interacting with payers
Interacting with payers can be challenging, but it's important to validate that someone is going to pay for your potential solution.
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This article (and the embedded video) outlines the Health Technology Assessment (HTA) process, and what to consider when trying to attempt the 'perfect' value proposition for health technology payers.
Talking to someone approaching your innovation from a health economics perspective will enable you to validate that you're going to be able to sell, and generate revenue from your innovation.
Talk to a payer or health economics expert
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Finding a health economist
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