Do you know what your patients value and what they would be willing to trade-off (or pay for) to get what is important to them? For example, if your patient has to choose between a highly effective drug with a bad side effect profile and a less effective drug with minimal side effects, which would they choose?
Rooted in traditional economic theory, stated-preference methods have historically been used in a variety of non-healthcare industries. Our experts have been applying these methods to medical decision making for nearly two decades. What we and our clients have learned is that traditional health economics, patient-reported outcomes (PROs) and the patient’s point-of-view are increasingly important factors to consider for you to fully understand the potential and positioning of a treatment in the market.
Preference studies can be used to help you with:
- Product development strategies
- Product positioning and value messages
- Market segmentation
- Product uptake estimates
- Adherence and treatment effectiveness
- Critical satisfaction measures
- Risk management strategies
- Risk tolerance assessments
Let our Health Preference Assessment team help you understand your patients’ (or other stakeholders’) preferences and predict how they value different treatment options. We are a multi-disciplinary team skilled in applying the most appropriate stated preference methods—discrete choice experiments (DCE) / conjoint analysis, best-worst scaling, threshold technique, and contingent valuation methods—to your research question so you can make better product and market decisions.
Health Preference Assessment at RTI Health Solutions
Christine Poulos, Senior Economist and Vice President of Health Preference Assessment at RTI Health Solutions talks about how our experts can help pharma, biotech, and medtech companies understand their patients’ (or other stakeholders’) preferences and predict how they value different treatment options.