Health Economics needs to factor in the preventative value of treatments in order for the ongoing drug pricing negotiations to serve society best in the longer term, our Co-Founder and Scientific Advisor Dana P Goldman told a panel event hosted by The Hill. “The way to save money in healthcare is to keep people out of the hospital,” Dana said. “That's what drugs do when they work best. They keep people out of the hospital. And we are negotiating those prices at the same time we are not solving these preventive healthcare issues that will drive disparities and costs.” For a good example of this dynamic, check out Dana’s blog about Medicare coverage of new obesity treatments: https://lnkd.in/gCTbB2aZ #HEOR #Innovation #DrugPricing #BioPharma #HealthEconomics
EntityRisk
Software Development
Princeton, New Jersey 888 followers
We enable innovators, payers and patients to quantify the real-world benefits of new medicines. Know Uncertainty.
About us
EntityRisk's software enables healthcare innovators and payers to measure and manage uncertainty. EntityRisk was founded by three health economists— bringing together decades of academic and industry experience-- to unlock financial innovation in the way new medicines are brought to patients. EntityRisk is building a proprietary algorithmic library to better estimate individual benefits of treatment—through advanced modeling techniques and integrated clinical trial, genomic, and real-world data. Our growing, world-class team of economists, data scientists, software engineers, finance professionals and cutting-edge academic experts is building the tools needed to enable financial innovation in healthcare, some of which include: -Analysis of all current and potential surrogate measures and their connections to critical endpoints of value to patients and payers -Customized individual and subpopulation-level survival and treatment duration curves -Scenario planning for pipeline and inline assets -Proprietary event and cash flow forecasting and analytics for efficacy-linked instruments -Value modeling All of our models are specifically designed to identify risk characteristics and correlations across therapeutic interventions, enabling new value-based payment and performance guarantees.
- Website
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http://www.entityrisk.com
External link for EntityRisk
- Industry
- Software Development
- Company size
- 11-50 employees
- Headquarters
- Princeton, New Jersey
- Type
- Privately Held
- Founded
- 2021
Locations
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Primary
300 Carnegie Ctr
Suite 150
Princeton, New Jersey 08540, US
Employees at EntityRisk
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Jeff Sullivan
Head of Data Engineering
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Dana P Goldman
Dana P Goldman is an Influencer Founding Director, USC Schaeffer Institute | University Professor of Public Policy, Pharmacy, and Economics | Former Dean
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Dana Panzer
Head of Client Success
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David Moules
Former Senior Vice President, U.S. Payer & Channel Access at Pfizer
Updates
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A nice summary from Jason Shafrin on the increasingly persuasive case for lower discount rates in HTA.
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Patrick N. of Affinity Asset Advisors was asked if the end of 2023 were allegedly the best months in biotech history. “It was a painful preceding few years,” he said. “It feels like the time is probably around now when we start to see people becoming more interested in the sector again. It’s exciting as a biotech investor. Obviously, these companies are going to help people down the road, and they need to be able to raise money to do that, and hopefully with a better market environment that can happen.” Key to long-term success is the ability to accurately model uncertainty. This is why we created our advanced digital PROVEN ™ platform. Check out the full interview with Nosker (part of the SF Healthcare Week conference) here: https://lnkd.in/g8ad4zNV #HEOR #Innovation #BioPharma #HealthEconomics
𝐒𝐅 𝐇𝐞𝐚𝐥𝐭𝐡𝐜𝐚𝐫𝐞 𝐖𝐞𝐞𝐤: A buy side perspective of biotech with Affinity Asset Advisors' Patrick N.. Patrick Nosker gives his take on today's conference news and highlights the science behind some of his firm's top holdings like Apogee, Teva, CymaBay, and Madrigal. Full video: https://lnkd.in/g8ad4zNV BiotechTV's coverage of SF Healthcare Week is brought to you by: HSBC Innovation Banking.
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The connection between music and medicine goes back millennia—at least to the Greeks who used musical instruments to try to heal patients. Recently, musician and life sciences investor D.A. Wallach opened up to Endpoints News about his own experience in both worlds. “I think there is sometimes a similarity in the personality type of musicians and scientists,” Wallach said. “It is not a perfect overlap, but there’s a combination of detail-orientation and free-spiritedness that I sometimes recognize in folks who thrive in these worlds. One needs to have an impulse to explore in open-ended spaces and to combine ideas in novel ways in order to generate new materials, and then discipline and obsessiveness are required to take you from there to something tangible.” This interview resonates with our vision in more than one way. Health economics is as much a science as an art, and fine-tuning the right methodology to give a tangible expression to the intangible requires those same qualities and skills. Beyond that, we created our cutting-edge PROVEN ™ platform to help scientists and investors understand better the uncertainty associated with business planning in the life sciences—and in this way to more efficiently enable the kind of innovation Wallach is passionate about. Read the full interview here: https://lnkd.in/gAnNXQHi #HEOR #Innovation #BioPharma #HealthEconomics
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Pharmaceutical Executive cited Darius Lakdawalla in its coverage of the Financial Times US Pharma and Biotech Summit 2024. “It'll take probably five or 10 years to play out on the negotiation side,” Darius said, “which is really more price setting than it is negotiation. There is a lot of question about what CMS is going to do to set prices. And they've been pretty vague about how they're going to do that in order to preserve flexibility and discretion. In fact, I think it's clear that the guidance that they issued for this year's price saying they're not going to hold themselves to in future years. So even if you look at if you look at what happens in the fall, you're not going to get a lot of insight into what's going to happen in the following years. So that's part of the uncertainty. Then there's also a market level uncertainty, which is because of the inflation boundaries that, in some ways, probably pose the most pivotal risk for the industry. The question is, how is that going to be handled? So now there's asymmetric risk when you set your launch prices. If you set your launch price too low, there's not really a way out.” The PROVEN Platform is where Darius and the team have been working out how the value of medicine is being understood and misunderstood through these changes. Please let us know if you would like to see PROVEN yourself. Read the full article here: https://lnkd.in/gh67kFbu #HEOR #Innovation #DrugPricing #BioPharma #HealthEconomics
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The impact of the Inflation Reduction Act and the unprecedented drug price negotiations in the US on biotech investing was a major topic at the Financial Times US Pharma and Biotech Summit 2024 in New York. Darius Lakdawalla was joined by Johanna (Rodriguez) Grossman, PhD at NYSE, Harmeet Dhillon at GSK, Amit Sinha at Goldman Sachs on the panel, Soft Landing, Hard Problems. Oliver Barnes, US pharma and biotech correspondent for the Financial Times moderated. The stakes involved in getting launch prices right have never been higher, Darius shared. In the future, it will be harder to compensate for low initial prices with annual price hikes while setting the launch prices too high can result in access limitations. Despite that there are multiple strategies to sustain medical innovation through current market volatility. Darius pointed to dynamic pricing models and better recognizing the social value of innovation in healthcare economic models. These all hinge on modeling uncertainty accurately. The recently released PROVEN platform is the engine Darius and his team are using to accelerate analysis on this, test current thinking and refine our understanding of how pricing works and how to plan for a changing environment. The full video from the summit can be purchased from the event organizers here: https://lnkd.in/ebXx2jk #HEOR #Innovation #DrugPricing #BioPharma #HealthEconomics
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When the year started biotech investors had a smaller appetite for risk compared to previous years. Startups have needed to show a good business plan in addition to sound science to get funded. These were key takeaways from this year’s BIO CEO & Investor Conference that took place in New York on February 26. How is that playing out now in May? “There’s the science, and I love the science, but I have been forced to think about the business a lot more over the last two years,” Ellen Hukkelhoven, Head of Biotechnology Investments at Perceptive Advisors, told the conference. “The drug needs to work, it needs to get approved—which is a separate question—and then it needs to sell. Even in preclinical companies, we are thinking about all three of those stages when we invest.” While startups have come up with various strategies to stand out to investors, including offering a preview of their data to their top targets, nothing beats solid economic analysis. This is why we created our advanced PROVEN ™ platform — to help both investors and biotech innovators model uncertainty and predict the value of novel therapies with unprecedented flexibility and precision. #HEOR #DrugPricing #BioPharma #Innovation Link: https://lnkd.in/gW4YUd33
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Following ISPOR 2024, we're re-listening to Bioverge Ventures’ founder Neil Littman sharing VC insights into healthcare and the life sciences on Dr. Chris Stout’s Living a Life in Full podcast. “What was once deemed to be science fiction is now increasingly becoming science fact,” he said. “I firmly believe the next great revolution will be in the tools to re-architect our biology, our brains, our chemistry and ourselves. We are already seeing this play out in real time.” A key step along the way is to democratize access for a wider circle of investors to promising biotech deals, and to identify early on those startups which have the potential to contribute the most to patient needs. In order to select the latter, meticulous research and due diligence are paramount. "If I am intellectually honest, I have no idea a priori which one of our portfolio companies is going to have a billion-dollar outcome, but I need to have a relentless focus on the process to ensure we are investing in the right types of companies to give ourselves that statistical probability of success,” Littman added. We created our AI-powered PROVEN platform to help innovators as well as investors model uncertainty with unprecedented accuracy and flexibility and to gauge the value of any potential future treatment. To learn more about our innovative methodology, do not hesitate to reach out. Check out the full podcast here for more insights, including tips how to best manage the potentially complex relationship between VC investors and biotech founders, and a valuable perspective into how an investor’s well-curated network can contribute in diverse ways to the success of an early stage company: https://lnkd.in/dMPF7TSm #HEOR #DrugPricing #BioPharma #Innovation
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ISPOR 2024 wraps up today! It has been an informative and compelling gathering. Thank you everyone we had an opportunity to meet and reconnect with. If you haven’t caught up with Manish Singh and our team yet, there’s still time - you can find us at booth #318. Again, make sure to ask for details on the new PROVEN platform. #HEOR #ISPOR #DrugPricing #BioPharma #ISPOR24
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Are you catching today’s 1:45pm session at ISPOR - “I Have a Better QALY Than You: How to Make Sense of Alternatives to the QALY for Research and Policymaking"? Tell us how you think the debate went, we want to hear your thoughts. #HEOR #ISPOR #DrugPricing #BioPharma #ISPOR24