Demonstrating the cost-saving potential of biosimilars across multiple indications
Developing budget impact models (BIMs) to visually demonstrate the economic value and cost‑saving potential of biosimilars
Our client had a range of biosimilar products in the immunology therapy area and needed to demonstrate the economic value of their products to facilitate discussions with payers.
Biosimilars have similar safety and efficacy profiles as their originator product, the main advantage over other biological products being their cost. Our client needed a dynamic model to demonstrate the cost saving potential of their products and the overall benefit to payers of supporting a positive biosimilar uptake policy.
We designed two BIMs, each covering eight different disease indications in the immunology area. Each model demonstrated the cost-saving potential of the biosimilars over a 5 year period and included an introduction, a dashboard (to select which indications the user needed), population and market share data, direct costs and dosing data, and results.
Each model enabled the user to actively compare the cost saving potential of the biosimilar against the current standard of care and to understand the impact of the client’s products and other biosimilars on the overall immunology market.
The BIMs enabled the client to demonstrate the cost-saving potential of the biosimilars across one indication or more, depending on the target market. The models produced very clear figures, allowing the user to see the annual cost saving of the biosimilar by treatment strategy, by indication, and by treatment cohort over a five year period (see example dashboard).
Value to the client
The client was able to engage payers and present the economic rationale for their product in a succinct and supported way for reimbursement discussions.
The multi-indication approach also supported the overall introduction of biosimilars within these indications by enabling discussions about the value of supporting biosimilar entry to the market and of introducing policies to drive uptake.