TORONTO and BOSTON, Nov. 9, 2018 /PRNewswire/ -- Dymaxium and Policy Analysis Inc. (PAI) are pleased to announce that they are joining forces to provide life sciences organizations with the option of integrating their models on PAI's new Web-based modeling platform, hēRo3℠, with the AMCP eDossier System within the FormularyDecisions.com® platform. Life sciences organizations will be able to share their health-economics models on hēRo3 with the community of over 1,900 registered payers and health care decision makers currently registered on FormularyDecisions.com as part of their product review and reimbursement process.
With hēRo3, health economics models can be developed online and then shared with others as animated Web apps. All calculations in hēRo3 are performed using an open-source modeling package in R that runs in a secure cloud-based environment. By automating many tasks that usually are programmed from scratch when models are built using spreadsheet software, hēRo3 substantially reduces errors in models as well as the amount of time that it takes to develop them.
"Integrating hēRo into the FormularyDecisions.com platform allows life sciences clients to further support and exchange information with our community of payers and health care decision makers with accessible, transparent, interactive models integrated directly within the System," said Allen Lising, Dymaxium's CEO. "This allows users to customize models for their own populations and assumptions. It's a great addition to other new enhancements to FormularyDecisions.com, such as our P&T Prep Kits, peer evidence feedback tools, and dashboards that augment the user experience."
"The decision to partner with Dymaxium on the eDossier System made a lot of sense to us," said Gerry Oster, PhD, Managing Partner of PAI and lead health economist on the hēRo3 development team. "hēRo3 is a perfect complement to Dymaxium's platform. Making hēRo3 models easily accessible to Dymaxium's community of payers and health care decision makers saves them time by having more of the information in one place that they need to make decisions. And it supports transparency in the exchange of information between life sciences organizations and payers and health care decision makers."
Dymaxium and PAI are working together to ensure that life sciences organizations will be able to share their hēRo3 models seamlessly with payers and health care decision makers in the eDossier System. Dymaxium and PAI anticipate this integration will be complete by early 2019.
About the AMCP eDossier System@FormularyDecisions.com®
FormularyDecisions.com® is a centralized, secure web-based platform connecting over 1900 registered US payers and health care decision makers with evidence and resources to support reimbursement evaluations. Payers and health care decision makers can provide feedback for life sciences organizations via syndicated surveys to further assist the evidence exchange.
The AMCP eDossier System within FormularyDecisions.com® (http://formularydecisions.com/) is used by US payers and health care decision makers to efficiently assess evidence to support product evaluations via access to leading scientific sources, insights from HTA, manufacturer information and other resources, as well as tools to evaluate products, both pre- and post-approval.
Dymaxium (http://www.dymaxium.com) is a trusted market access partner specializing in the exchange of evidence and information between decision makers and life sciences organizations via technology. Since 1996, Dymaxium has the proven ability to provide life sciences organizations with technology solutions and interfaces to support their interactions with payers worldwide and internal stakeholders. Leveraging our FormularyDecisions.com® platform and its 1900+ registered US payers and health care decision makers, Dymaxium drives insights about reimbursement decisions via syndicated payer feedback, payer behavior metrics and new interactive dashboard reporting. Subscribing life sciences organizations access these syndicated insights and data to support effective product information exchange with decision makers during pre- and post-approval.
hēRo3 (http://hero3models.info/) is a new Web-based platform that allows health-economics models to be built online and then shared securely with others as private "live" Web apps. All calculations in hēRo3 are performed using an open-source modeling package in R that runs on a cloud-based platform. By bringing modern Web technology to health economics modeling, and by automating many tasks and calculations that most modelers typically program from scratch, hēRo3 substantially reduces development times while also improving the quality and transparency of models. The Institute for Clinical and Economic Review (ICER), which is best known as the nation's independent watchdog on drug pricing, recently revealed that it plans to expand its use of hēRo3 in its reviews of the clinical and economic value of prescription drugs, medical tests, and other healthcare interventions, following several months of extensive testing.
About Policy Analysis Inc.
Policy Analysis Inc. (PAI) (http://www.pai2.com) is a 45-year old, independent, health-economics consultancy, located in Brookline, MA, that is an industry leader in the fields of pharmacoeconomics, outcomes research, quality-of-life assessment, pharmacoepidemiology, and health technology assessment.
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SOURCE Dymaxium Inc.; Policy Analysis Inc