The Institute for Clinical and Economic Review (ICER) is set to bolster its use of hēRo3, Policy Analysis Inc.’s (PAI) web-based economic modeling platform, for its value assessments of prescription drugs and interventions.
PAI announced the expanded deployment of the software today (Wednesday, Oct. 24).
The hēRo3℠ Modeling Platform, according to a press release, streamlines the online production of cost-effectiveness models for new medicines, as well as enables users to securely share their models.
“We approached ICER very early in the development of our new platform, since they are unquestionable the most important and influential health-technology assessment group in the U.S.,” Gerry Oster, PAI Managing Partner and health economics expert, said in a statement. “ICER’s decision to expand its use of hēRo3 confirms our belief in the needs our new modeling platform meets, and in its ability to reduce the time needed to conduct rigorous economic evaluations of new medical treatments.”
ICER has been testing the software since January 2018, and recently used the platform in one of its evidence reviews.
“In addition to saving us substantial time that we otherwise would spend building models in Excel, we think that hēRo3 will help us advance our ongoing initiative to further modeling transparency,” ICER Director of Health Economics Dr. Richard Chapman said.
To find out more about PAI’s hēRo3, click here.