Services
Economics by Design provide a number of professional services in the public and private sector.
We leverage cutting-edge analytical tools and methodologies, including econometric modelling, cost-benefit analysis, and market research, to deliver insights that support strategic decision-making and policy development.
Our team of experts brings to the table a wealth of experience in addressing complex economic challenges, ensuring that our clients are equipped with the knowledge and understanding required to navigate the intricacies of local and global, micro and macro economic landscapes.
Through our rigorous, evidence-based approach, we aim to shed light on economic trends, forecast future patterns, and contribute to the formulation of effective strategies and solutions.
Value Proposition Development
The Economics By Design team develop value propositions for clients. Value propositions help to frame offerings and communications about the value of the product or service, for health system commissioners and providers and for digital health companies. They help to frame any analytical or business case requirements and can support the key messaging for spread and adoption.
The value proposition confirms the context for the solution, the use case, the problem being solved, the alternative solutions available, the value points for patients, health system, health workforce, other stakeholders and the wider economy and the measures and metrics needed to demonstrate these.
Value Calculators For Marketing
If (or once) the Value Proposition is relatively clear, clients can benefit from a simple deterministic value calculator.
This is a model that takes the data and metrics from the value proposition and combines published data sources and assumptions to demonstrate the value of the product or service.
This can be used by clients to demonstrate the potential value of service change for commissioners or providers of health and social care, using their own data and assumptions.
Economic Impact Models for Business Cases
Stakeholders seeking to invest in service development, workforce redesign, or digital technologies are likely to need to prepare a business case for their executive team.
In the NHS in England, providers and integrated care systems generally follow templates based on the H.M. Treasury five case model. These include demonstrations of the potential economic (value case) and the financial (budget impact case).
The development of a draft economic and financial case is an extension of the value calculator. It includes modelling and associated documentation.
Modelling includes a comparison of options, estimates of full investment and deployment costs and benefits over time (usually 5-10 years), the preparation of discounted cash flows, sensitivity analysis, and cash flow analysis.
Economics by Design can collaborate with clients to develop these business case models.
Economic Evaluation for Evidencing Value
Some clients are conducting pilot programmes or clinical trials of service redesign, workforce transformation, or digital technologies and are looking for an economic evaluation.
Economics by Design provides bespoke support to design, plan, implement and report the findings of the evaluation, working closely with those responsible for process and impact evaluations.
Levels of complexity will depend on whether the product or service has a clinical therapeutics value, and what the client requirements are in terms of required standards of evidence.
Specialist Expert Advice + Project Delivery
Economics by Design can provide clients working in or for the health and wider public sector, with specialist economics advice, project delivery and bespoke training at a strategic or operational level.
This benefits clients who are looking for specialist insights to support their work, or to build capability and capacity for their teams.