Key Responsibilities and Required Skills for a Health Economist

🎯 Role Definition

A Health Economist is a specialist role at the intersection of economics, statistics, and healthcare. Professionals in this field are responsible for evaluating the economic aspects of healthcare interventions, including pharmaceuticals, medical devices, and public health programs. They design and execute sophisticated analyses to demonstrate value, inform pricing and reimbursement strategies, and support submissions to regulatory and health technology assessment (HTA) bodies. This role is pivotal in translating complex clinical data into a compelling economic narrative that shapes market access and influences healthcare policy, ensuring that innovative treatments reach the patients who need them.

📈 Career Progression

Typical Career Path

Entry Point From:

Academic Researcher (Post-doc in a relevant field)
Data Analyst or Statistician (within healthcare/pharma)
Junior Economist or Research Associate in a consultancy or life sciences company

Advancement To:

Senior / Principal Health Economist
Manager / Director of Health Economics and Outcomes Research (HEOR)
Head of Market Access or Value & Access

Lateral Moves:

Market Access Manager
Pricing and Reimbursement Strategist
Real-World Evidence (RWE) Lead

Core Responsibilities

Primary Functions

Spearhead the design, development, and adaptation of sophisticated health economic models (e.g., cost-effectiveness, budget impact, cost-utility) to articulate the economic value of pharmaceutical and medical device products.
Execute comprehensive systematic literature reviews (SLRs) and targeted reviews to identify and synthesize relevant clinical, economic, and humanistic evidence to inform model inputs and strategic decisions.
Lead the preparation and authorship of the economic sections of submissions to global Health Technology Assessment (HTA) agencies and reimbursement bodies (e.g., NICE, CADTH, IQWiG, AMNOG).
Leverage advanced statistical techniques to analyze complex real-world datasets, including administrative claims, electronic health records (EHR), and patient registries, to generate compelling evidence on disease burden and treatment outcomes.
Develop and write abstracts, posters, and manuscripts for presentation at scientific congresses and for publication in peer-reviewed journals to disseminate research findings to the wider scientific community.
Collaborate closely with cross-functional partners (including Market Access, Medical Affairs, Clinical Development, and Brand teams) to develop and implement integrated evidence generation plans.
Communicate complex economic concepts and model results clearly and effectively to diverse internal and external stakeholders, including those without technical backgrounds.
Conduct network meta-analyses (NMAs) and other forms of indirect treatment comparisons to assess the relative efficacy and safety of an intervention against its key comparators.
Manage external vendors and academic collaborators to ensure outsourced projects are delivered on time, within budget, and to the highest scientific standards.
Provide strategic input into clinical trial design to ensure relevant economic and patient-reported outcome (PRO) endpoints are included to support future value propositions.
Develop and validate Patient-Reported Outcome (PRO) instruments to capture the humanistic and quality-of-life impact of diseases and treatments.
Create compelling value dossiers and other market access materials that effectively articulate the product's clinical and economic benefits for payers and providers.
Perform early-stage economic assessments for pipeline assets to inform development decisions and shape early commercial strategy.
Stay at the forefront of evolving HTA methodologies, payer requirements, and health policy changes globally to ensure the organization's strategic and technical alignment.
Lead the development of interactive and user-friendly model interfaces (often in Excel/VBA) to allow local country affiliates to adapt global models for their specific needs.
Analyze and interpret data from clinical trials, providing statistical and economic insights to support the overall evidence package.
Design and implement observational studies, such as retrospective chart reviews or prospective patient registries, to fill evidence gaps identified in the product's value story.
Train and educate internal colleagues on health economics principles, methodologies, and the interpretation of study results to enhance organizational capabilities.
Respond to inquiries and challenges from HTA bodies and payers regarding economic models and evidence submissions, providing robust and evidence-based justifications.
Support the development of pricing and reimbursement strategies by providing robust analyses on the cost-effectiveness and affordability of new products.

Secondary Functions

Mentor and provide guidance to junior economists and analysts on technical methods and project management.
Contribute to the development and refinement of internal standard operating procedures (SOPs) and best practice guidelines for health economic analyses.
Actively participate in cross-functional team meetings, providing economic expertise to colleagues in Commercial, Medical Affairs, and Clinical Development.
Stay abreast of competitor activities and evidence generation strategies to inform and refine the company's own value demonstration tactics.

Required Skills & Competencies

Hard Skills (Technical)

Economic Modeling: Advanced proficiency in building and quality-checking cost-effectiveness and budget impact models, typically using Microsoft Excel with VBA.
Statistical Programming: Strong command of at least one statistical software package such as R, SAS, or Stata for data analysis and manipulation.
Systematic Literature Review (SLR): Deep understanding of SLR and meta-analysis methodologies, including protocol development, screening, and data extraction.
Real-World Evidence (RWE) Analysis: Experience analyzing large, secondary datasets (e.g., insurance claims, EMR/EHR) to generate real-world insights.
HTA Dossier Development: Proven ability to develop, write, and manage the economic components of HTA submissions for major global agencies.
Network Meta-Analysis (NMA) / Indirect Treatment Comparison (ITC): Knowledge of the theory and practical application of NMA and other ITC methods.
Survival Analysis: Proficiency in applying statistical methods for time-to-event data (e.g., Kaplan-Meier curves, Cox proportional hazards models) which are common in economic models.
Patient-Reported Outcomes (PROs): Knowledge of PRO instrument design, validation, and analysis to measure quality of life and patient experience.
Scientific Writing: Demonstrated ability to author high-quality technical reports, manuscripts for peer-reviewed publication, and conference abstracts.
Project Management: Skill in managing multiple complex projects simultaneously, including scoping, timeline management, and overseeing vendors or junior staff.

Soft Skills

Strategic Thinking: The ability to see the bigger picture, connecting detailed analytical work to overarching market access, commercial, and policy objectives.
Communication & Influence: Exceptional ability to distill complex technical information into clear, concise, and persuasive narratives for non-expert audiences.
Problem-Solving: A creative and analytical mindset capable of navigating ambiguous situations, overcoming data gaps, and finding robust solutions to complex research questions.
Collaboration & Teamwork: A proactive and collegial approach to working within cross-functional teams, building consensus, and valuing diverse perspectives.
Attention to Detail: Meticulous and precise in all aspects of work, from model programming and data analysis to the final proofreading of a submission dossier.

Education & Experience

Educational Background

Minimum Education:

A Master's degree in a relevant quantitative or scientific discipline.

Preferred Education:

A PhD is highly preferred, particularly for roles with a significant research, methods development, or leadership component.

Relevant Fields of Study:

Health Economics
Economics
Public Health (with a quantitative focus, e.g., Epidemiology or Biostatistics)
Statistics or Biostatistics
Pharmacy Administration / Pharmaceutical Outcomes and Policy

Experience Requirements

Typical Experience Range:

A Health Economist role typically requires 3-8 years of relevant, hands-on experience. Senior, Principal, and leadership positions will require 8-15+ years of progressive experience and a track record of strategic impact. Entry-level (Associate) roles may require 1-3 years of experience or can be filled directly by a candidate with a relevant PhD.

Preferred:

Direct experience working within the pharmaceutical or medical device industry, a health economics consulting firm, or a leading academic research institution is strongly preferred. A demonstrated history of developing economic models, conducting evidence synthesis, and contributing to HTA submissions and/or peer-reviewed publications is essential.