How Real-world Data and Analytics Can Demonstrate the Value of Medical Products to U.S. Health Plans

BHI News

Healthcare analytics and strategy firms showcase real-world evidence in action through an applied case study at July 11 conference

CHICAGO (July 5, 2018) – Healthcare payers are looking to real-world evidence (RWE) and analytics to answer a range of medical device cost, quality, and safety questions. RWE can answer whether a device should be included in a bundled payment arrangement; pinpoint which members might – or might not – benefit from a device; and inform device reimbursement and prior authorization decisions.

“We are at an inflection point with data where, for the first time, medical device companies can see how their products actually work in patients over an extended period of time,” said Swati Abbott, CEO of Blue Health Intelligence® (BHI®), a leader in the healthcare data and analytics space. They can see medical visits averted, symptoms alleviated, pain vanished. Through data, we can glean unique, product-specific insights that powerfully illustrate product differentiators, costs and benefits, and outcomes to payers and regulators.”

Abbott and Julia Gaebler, partner with Health Advances, a healthcare strategy firm, will outline how payers are seeking to use RWE in their presentation, “Bridging Data, Analytics, and Insights to Develop Medical Device Value Propositions,” at the 14th Annual Medical Device Coverage & Reimbursement Conference, held July 11 at the Courtyard Chicago Downtown Magnificent Mile in Chicago.

Abbott will describe medical device industry changes leading to the demand for RWE from payers. She will discuss the importance of high-quality data for generating RWE, and describe how BHI can analyze data from the more than 182 million lives it has in its database to generate such evidence.

Gaebler will showcase RWE in action, sharing how her client used BHI data to demonstrate that its product, an advanced pneumatic compression device, reduced costs associated with and medical utilization by high-risk patients who suffer from lymphedema – painful swelling of the arms and legs that most often results from damage to the lymph nodes during cancer treatment. Gaebler will then show how her client used RWE to calculate the two-year budget impact and break-even analysis of covering its product by a hypothetical U.S. payor with 10 million commercial members.

Interested attendees can register or learn more about the conference.

About Health Advances

Health Advances is a strategy consulting firm that focuses exclusively on the healthcare industry. Its team of more than 140 scientists, clinicians, and business professionals help clients realize growth opportunities worldwide for healthcare technologies, products and services. Clients receive innovative perspectives and actionable insights that help them make more confident strategic business decisions that capitalize on their company’s growth potential. For more information, visit healthadvances.com.

About Blue Health Intelligence®

Leveraging the power of medical and pharmacy claims data from more than 180 million Americans, Blue Health Intelligence (BHI) delivers insights that empower healthcare organizations to improve patient care, reduce costs, and optimize performance. With the largest, most up-to-date, and uniform data set in healthcare, BHI provides an accurate representation of the health profile of commercially insured Americans. Our team of data analysts, clinicians, IT experts, and epidemiologists provide analytics, software as a service, and in-depth consulting to payers, providers, employers, medical device companies, and other healthcare stakeholders. Blue Health Intelligence is an independent licensee of the Blue Cross Blue Shield Association and carries the trade name of Health Intelligence Company, LLC. For more information, visit www.bluehealthintelligence.com.