News and Insights
ECV as Marketing Strategy: What Payer Changes Mean for Your Business
As payers around the globe increasingly demand more data regarding a product’s value — from comparative information to real-world evidence — companies will need to build the infrastructure and capability set to meet these demands. These changing requirements for reimbursement have implications that extend from product development through commercialization. To successfully adapt to these requirements, organizations will need to build new capabilities, change structures and processes, and incorporate new methodologies and ways of thinking.
If an organization successfully incorporates economic and clinical value into product development, then when the product is ready for commercialization marketing strategists will be better positioned to communicate the value proposition to all stakeholders, especially payers. When incorporating economic and clinical value into product development and commercial strategy, marketing strategists will be better able to communicate a product’s value proposition to all stakeholders, especially payers. Marketing strategy should then be based on evidence that demonstrates product value, illustrates product differentiation, and provides a compelling message. Incorporating economic and clinical value considerations into marketing strategy offers a new “market-driven” approach — and a dramatic shift from the conventional “product-driven” model.Read More
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