Health Economics and Outcomes Research (HEOR) and Market Access are two separate sectors within healthcare, yet they work towards the same goal: helping to gain market approval for a drug by determining how much it should cost, and why. Both fields work together to ensure that patients have access to the drugs they need.
Healthcare decision makers are often faced with the need to select therapeutic interventions from multiple treatment options. Health Economics and Outcomes Research (HEOR) can help healthcare decision makers to adequately compare and choose among the available options.
The “HE” part refers to health economic evaluation and the “OR” element relates to the research and tools required to evaluate the real-world effectiveness of a therapeutic intervention in terms of clinical and patient outcomes.
Health economist jobs are both scientific and technical, using a variety of models to collect and analyse data that will lead to the most cost-effective and equitable use of resources in healthcare. HEOR professionals also build data systems that are used by market access professionals to determine the price of a healthcare intervention or drug.
Market Access focuses on the challenge of ensuring patients have access to the latest innovative pharma products and involves influencing key stakeholders, including the ‘buyers’ who commission the drugs and therapies chosen to treat patients in their care. Sometimes referred to as patient access, market access is closely linked to sales and marketing functions as well as policy and public affairs.
When launching a new product, having a good market access strategy is essential for success. Those working in this area have an in depth understanding of the healthcare markets, funding, trends and who the key stakeholders are for the products they are promoting so they can ensure the product is launched in a way which will have most impact.
Jobs within HEOR and Market Access are usually limited to specialist consultancies and range from entry level consultant positions to manager and director levels. Each of these roles will be Client facing and will focus on delivering high quality market access projects, on time and to budget. In more senior market access roles, candidates may also be required to mentor and manage junior members of the team, and work on new business to help the agency to grow its client base.
In all levels, HEOR and Market Access jobs require a knowledge of the structure and function of the healthcare environment, knowledge of the pharma industry, new product development and approvals and a basic clinical knowledge.
Salaries in HEOR and market access range from £25,000 for an analyst to £90,000 and beyond for director level roles.
If you think you have what it takes for a career in HEOR or Market Access, or are looking for your next step in this specialist field, then give Rich a call. We work with a number of consultancies across the UK and in Europe and can tell you all about our latest vacancies as well as those coming soon.