Analytics Software for Evidence based Healthcare

The Need - Health Economics


With the ever intensifying demand on healthcare systems to provide “more for less” and consequently, medtech companies to provide the products to make this real, the relatively new area of Health Economics is increasingly important.  Justification of the health economics arguments of products is essential when seeking to market new products and increasingly in justifying investment and guiding product development.  Until now a dedicated health economic capability has been beyond the reach of all but the largest most established companies.  HecoAnalytics has addressed this need by developing software and associated services that allows cost-effective implementation of health economic studies to guide product development, justify investment and ultimately support market uptake.


HecoAnalytics uses the accepted practice of evaluating the cost-effectiveness of a new technology in comparison to an existing gold standard technology, similar to that used by NICE. Read our Whitepaper here.


What is HecoAnalytics?


A web based health economic decision-making tool, supported by our team of health economists, able to identify innovations that have the potential to be a good investment for you as medical device manufacturers.


Why is HecoAnalytics valuable?


Helping you to develop the right product, for the right market, for the right price and focus limited resources to devices that will be cost effective and adopted in the market.

When should HecoAnalytics be used?


From 'the concept stage' to the design of new devices, supporting development decisions, justification of investment and ultimately supporting market acceptance.

The Platform


We provide developers and manufacturers of near-patient products and services with a simple to use economic pricing and scenario analysis tool that utilises state of the art cloud, big data and semantic technologies. HecoAnalytics builds on over a decade of academic research in Health Economics and Computer Science.

The Process


HecoAnalytics works with companies to develop a complete understanding of the disease area and pathway of interest with our team of highly experienced health economists and data scientists.


HecoAnalytics provides a web-based economic decision making tool that allows a company to make instant health economic assessment of their product portfolio and that allows for different scenario planning in response to new development, clinical or market data.


HecoAnalytics provides ongoing support for the web-based application.

Building Generic HE Models


HecoAnalytics offers access to its proprietary generic health economic models in areas such as sepsis, cancer diagnostics and cardiology, facilitating:

  • Fast cost-effective quick view of the HE proposition for a product
  • Collaborative internal investment decision
  • Justification of external investment decision
  • Shaping of early product specification
  • Presentation of analysis on a laptop, tablet and mobile.

Data-Driven Clinical Trial Design


HecoAnalytics platform and Evidence Maps can facilitate a more effective clinical trial process by:

  • Informing clinical trial design ensuring trials demonstrate appropriate HE objectives
  • Support scenario analysis
  • Provide simple and fast referencing for applications

Constructing Evidence Maps


Evidence Maps are central to the HecoAnalytics platform, underpinning:

  • Fully searchable literature surveys around treatment pathways of interest
  • On-going evolution staying current throughout product lifetime
  • Capture of literature sources - public domain,  proprietary, imagery
  • Shaping early product specification

Modelling and Analysis


Extracting the data form the PicTags and the Evidence Map enable numerous generic, bespoke or proprietary HE models to be run - Cost utility, Budget impact, Markov – supporting a range of scenario analysis.


Market entry and payer analysis reporting is able to extract data form our Cloud data server providing payer analysis, clinical trends in markets of interest and competitive intelligence.

The Team

Stuart Hendry


David Bell

(CTO & Founder)

Terry Young


Armin Kashefi

(Data Scientist)

Tommaso Turchi

(Lead Developer)


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© 2017 - HecoAnalytics

Brunel University London - Kingston Lane, Uxbridge, Middlesex UB8 3PH, UK