Economic Evaluation of SME Technology image

Economic Evaluation of SME Technology

In addition to clinical data to demonstrate the safety and efficacy of a technology, life sciences small- and medium-sized enterprises (SMEs) require health economic data and analysis to demonstrate the cost-effectiveness of that technology for health systems, creating a comprehensive picture of how the technology is good value for money. Without this key component in an evidentiary package (i.e., documentation that must be submitted to healthcare organizations during the procurement process), it is a challenge for SMEs to successfully commercialize their products.

The IHE provides services to support life sciences SMEs in robustly documenting the economic value of their healthcare technology. Often this work is completed in partnership with clinical investigators to prepare complete (clinical and economic) evidentiary/procurement packages that will support companies in obtaining reimbursement in global markets.

Overview of Alberta’s Health Innovation Ecosystem

Below is a high-level description of Alberta’s health innovation ecosystem and where the IHE is located, as your economic partner, in the development of evidentiary packages for the procurement process.

Overview of Alberta's Innovation Ecosystem

With the support of a grant from the Government of Alberta, Economic Development and Trade, the IHE can provide clinical investigators trialling an Alberta SME technology in Alberta with consultation services at no charge, to inform on protocol and data capture requirements that will support the eventual preparation of complete (clinical and economic) evidentiary packages and help companies obtain reimbursement in global markets. This consultation service will be provided regardless of whether or not the IHE completes the economic analysis as a partner in the project.

For more information about IHE service offerings to support life sciences SMEs, including potential sources of funding, please contact us at innovation@ihe.ca.