News and Insights
Expanding Your Market Access Capability
Historically, market access has been seen as the last step in the commercialization process. However, this orientation is increasingly out of step with market reality. Manufacturers face growing resistance from providers who, squeezed by shrinking reimbursement, require economic and clinical value data that establishes the marginal impact of a new product relative to the current standard of care.
An unprecedented spike in consolidation across the provider segment has resulted in fewer prospective buyers having more market power. Another result is the institutionalization of purchase decision making. No longer the sole province of the clinicians that use or prescribe the product, such decisions are increasingly made by groups representing multiple interests and concerns.
So it is no longer sufficient to obtain regulatory approval for a product and then persuade providers to prescribe or use it. To adjust to this shift in power, companies have to build capability to gain timely and profitable access to the managed market segment globally. To meet increased demands for stakeholder value, market access considerations must be embedded across the product development life cycle and across functional areas.Read More
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