News Alert:

Cost Effectiveness Analysis on AI Tool to Support Diagnosis of Prostate Cancer – Lucida Medical

27th January 2023

Lucida Medical develops software based on artificial intelligence methods (machine learning and image processing) to enable radiologists to find cancer accurately, consistently, and quickly using MRI. Innovators at Lucida Medical developed Prostate Intelligence (PI™) to support the diagnosis of prostate cancer in patients. Lucida Medical wanted to demonstrate the difference that PI™ would make in the diagnosis pathway

Our Solution

Health Tech Enterprise (HTE) was commissioned to deliver a health economics analysis including a full literature review and create a fully interactive model that integrated a cost-effectiveness analysis from an NHS perspective. Health and cost outcomes were simulated for a patient cohort over the course of their lifetime and outcomes were modelled in terms of cost and Quality-Adjusted Life Years (QALYs).

The Outcome

The cost-effectiveness analysis showed that the innovation improved the diagnosis of prostate cancer and generated a statistically significant cost saving for the NHS. The interactive model allowed Lucida Medical to model different alternative scenarios and patient sub-groups, while the infographic became core material for Lucida’s promotional market access material.

This is what Antony Rix, CEO Lucida Medical had to say about the outcomes of the project, and why he would recommend HTE’s health economics service.

 

“Evelyne and her colleagues did a tremendous job to create a powerful model of current clinical practice in prostate cancer and how we could improve it, giving us insight into the dynamics of the NHS’s needs as well as strong evidence of benefit.” Dr Antony Rix, CEO, Lucida Medical

Download the Case Study

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