At face value, the objective of HEOR as an R&D function is to support Market Access in determining the rebate and commercial expectations in HTA markets. The current set of tools to accomplish this are well established and documented. The most critical challenge is having the data representative of the market of interest and having the right base case model to make conclusions on cost-effectiveness. With more applications and interest in machine learning and advanced statistics, HEOR models can evolve into the next iteration of becoming more representative and accurate of the patient experience. My initial estimate is that this will take 5 to 10 years of hard work, even more if the world wants to see a dashboard-like tool.
Currently, Pharma is interested in tools that can analyze their entire portfolio or pipeline and give them go-or-no go decisions. These are effective, but not as accurate (or respectful) as focusing on leads or investing time into capabilities. HEOR needs to be informed of clinical trial progress and hurdles, anticipated data read-outs, and market access objectives. Additionally, they hold the same set of skills to design evidence generation activities and analyze and report the results. A very critical function for companies seeking to expand their market and deepen their expertise in a disease area.