HEOR Ltd. have been working on an exciting new framework called Total System Value™. This episode of tHEORetically speaking features their CEO Phil McEwan and CGO Jeff Anderson to talk to us about this dynamic approach to value demonstration.
Total System Value™ (TSV)™ is a new, dynamic framework designed to assess the value of adopting a new technology or policy initiative at a population level. It demonstrates how various parts of the healthcare system are impacted. The value of innovation is directly related to the interconnectivity of a system’s constraints and the population dynamics as well as the natural history of a disease. TSV™ uses system thinking and system dynamics combined with population data, disease epidemiology, healthcare system capacity constraints, societal and patient outcomes, and environmental consequences to uncover increased or hidden value for new and innovative interventions. The TSV™ framework is a practical approach that helps the client anticipate downstream challenges but also optimize evidence generation programs and strengthen value messaging at different points in the product’s lifecycle to different audiences, thereby increasing the chances of successful commercial outcomes.
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HEOR Ltd. is a company founded on a passion for science and research, renowned for innovation and technical expertise, and built of brilliant minds. We have a collective desire to deliver original, creative, and successful solutions and have a reputation for research and academic excellence, strategic awareness and consultancy, and dedication to providing innovative and creative solutions. Our clients value our flexibility, integrity to scientific principles and best practice, and our ethos of true partnership.
The interview centered on HEOR Ltd.’s groundbreaking framework, Total System Value™, designed to revolutionize the demonstration of value within the healthcare industry. Phil McEwan and Jeff Anderson’s conversation emphasized the persistent challenges in healthcare systems facing different constraints. Phil highlighted the limitations of conventional cost-effectiveness models, stressing the need to capture the comprehensive impact of new health technologies and policies on healthcare systems around the world, stating . . .
Ultimately, the demand for healthcare is outstripping the ability of the healthcare system to manage that demand.
Jeff echoed this sentiment, underlining the struggle clients face in balancing and integrating diverse perspectives on value within healthcare, a puzzle TSV aims to solve . . .
Our clients currently are grappling with this puzzle to be able to combine all of those different elements.
They extensively delved into TSV’s definition, distinguishing it from traditional value demonstration models by broadening the scope beyond financial and outcome metrics to encompass system dynamics, population and disease changes, affordability and resource availability. Phil emphasized TSV’s role in articulating the broader impacts of technology adoption, encompassing improvements beyond financial savings . . .
What TSV is effectively doing is articulating how those component parts fit together and how they’re affected dynamically by a change in one component of the system.
Jeff detailed the framework’s adaptability across different study types and highlighted its ability to address evidence gaps and diverse stakeholder perspectives. He emphasized . . .
Our TSV framework allows us to look at that more holistically, but also help demonstrate value at whatever point you want to ask it over time as the system changes.
Overall, the interview showcased TSV as a pivotal shift from singular metrics to a holistic understanding of value across multidimensional aspects within healthcare systems, potentially reshaping the landscape of value demonstration in the industry.