Health Economics and Outcomes Research (HEOR) is a growing field that provides important information for making healthcare coverage and access decisions.
Healthcare decision makers are often faced with the need to select therapeutic interventions from multiple treatment options, including biopharmaceuticals, medical devices, and healthcare services. However, the benefits and costs of these interventions can range dramatically, and the benefits can be economic, clinical, both, or may include hard to measure costs or benefits the patient experiences directly. Health economics and outcomes research (HEOR) can help healthcare decision makers to adequately compare and choose among the available options.
The “HE” part refers to health economic evaluation and the “OR” element relates to the research and tools required to evaluate the real-world effectiveness of a therapeutic intervention in terms of clinical and patient outcomes.
Health economist jobs are both scientific and technical, using a variety of models to collect and analyse data that will lead to the most cost-effective and equitable use of resources in healthcare. HEOR professionals also build data systems that are used by market access professionals to determine the price of a healthcare intervention or drug.
To have a successful career in HEOR, a master’s degree in Health Economics, Public Health or Statistics is usually the starting point. Candidates will also need good project management skills, as well as excellent communication skills – both written and verbal – and the ability to communicate a complex message simply.
Frequently candidates enter the fields of health economics and outcomes research by working within a healthcare consultancy. This provides the opportunity for a wide range of experience and gives more opportunity for upwards career progression. Alternatively, you can work in-house for a pharmaceutical or healthcare company.
Starting salaries in Market Access range from $85,000 to $100,000. With three years of experience you can expect to earn up to $140,000. Vice Presidents would expect a salary of $275,000 and beyond for director level roles.
In HEOR, an Analyst with under 4 years’ experience would received a salary of $60,000 to $80,000.Senior Analysts would earn in the region of $100,000 - $150,000
Each company structures their salary and benefits differently and some of the perks are fantastic!
We work with a number of consultancies as well as large pharmaceutical organisations throughout the world.
Check out our latest Market Access and HEOR roles, view our recent Healthcare Communications Salary Survey report or send us your resume.