News Alert:

Economic Analysis of a Novel Graft Material for Ophthalmology – The Electrospinning Company

5th January 2024

The Challenge

The team at the Electrospinning Company have developed a novel synthetic material intended for use as a graft in ophthalmic surgery. The innovative material has the potential to improve surgical outcomes in addition to being more economical that the currently used graft options.

Our Approach

We scheduled in-depth discussions with the clinical lead at the Electrospinning Company, and carried out structured interviews with several key opinion leaders in the field of ophthalmology. This primary research provided us with a thorough understanding of the approaches to current practice and the scope in which the innovation could provide clear benefits. After a literature review, we performed a random-effects meta-analysis to characterise the success and failure rates in the currently performed surgical procedure. Using a decision tree model, we then simulated the outcomes for a patient undergoing the surgical procedure in current care as compared to care using the innovative graft material . This result was then applied to the addressable market population in the UK to generate a 5-year forecast of the budgetary impact of the innovation. A probabilistic sensitivity analysis was performed to account for uncertainties in the model.

Outcome

The evaluation showed that the innovation can achieve substantial cost savings for the NHS by drastically reducing the cost of the operation itself, as well as additional cost savings from a projected reduction in failure rates. The team at the Electrospinning Company intends to use the results to convince regulatory authorities of the value of their innovation. 

 

“Working with HTE has been a very positive experience. Updates were provided regularly and the final model and report were explained extensively and clearly. The report will be provided to NICE to support the case for our product to be adopted as standard treatment Gianpaolo Bruti, Project Manager

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