Regenerative medicinecompany, AVITA Medical (ASX:AVH | OTCQX:AVMXY), today revealed that it will bepresenting an economic model demonstrating the cost benefit of its RECELL (R)treatment at the International Society for Pharmacoeconomics and OutcomesResearch (ISPOR) 23rd Annual International Meeting.
The abstract forpresentation, titled 'Inpatient Cost of Acute Care for Severe Burn Patients:Validation of Economic Model for Adults and Children', highlights thecost-effectiveness of RECELL in contrast to the standard of care for treatmentof severe burns.
The meeting will be held onMay 21 in Baltimore, Maryland.
Burns require costly caredue to the need for complex and individualised treatment. RECELL is a medicaldevice designed to facilitate skin regeneration while minimising the amount ofskin harvested at the time of surgery. Reduction in donor site skinrequirements has important benefits from both clinical and health economicperspectives.
AVH CEO, Dr Michael Perry,said: "The model demonstrates the potential of RECELL to improve patient carewhile at the same time reducing the overall cost of treating patients."
"One of the strengths ofthis model is that it may be tailored to patient populations relevant toindividual hospitals, healthcare systems, and other organizations engaged inthe treatment of burn patients around the world."
Get the latest articles straight to your inboxkeep me posted"This externally validatedmodel will allow us to approach hospital value and analysis committees andpayers with a strong economic package that supports the cost savings that maybe achieved with the use of RECELL," Perry added.
Of course,it should be noted that AVH is still a speculative stock and anything canhappen. Investors should seek professional financial advice if considering thisstock for their portfolio.
The model was developed by AVH,IQVIA?,,? and the Biomedical Advanced Research and Development Authority (BARDA),under the Assistant Secretary for Preparedness and Response, within the USDepartment of Health and Human Services.
Funding provided by BARDA tosupport the development of RECELL has included support of the health economicmodel.
ISPOR, the professionalsociety for health economics and outcomes research (HEOR), is an international,multi-stakeholder non-profit dedicated to advancing HEOR excellence to improvedecision making for health globally. It is the leading source for scientificconferences, peer-reviewed and MEDLINE (R)-indexed publications, good practicesguidance, education, collaboration, and tools/resources in the field.
ISPOR's AnnualInternational Meeting is an international forum highlighting research andmethods that advance the quality and value of health care decisions.
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