News and Insights
Using Data to Link Product Value and Price
While the pharmaceutical and medical device industries have found themselves in a turbulent healthcare marketplace rife with changing regulations, new competitive challenges, and increasing pricing pressures, the end goal for manufacturers remains the same — product reimbursement and optimal pricing. These two terms are regularly linked together because reimbursement is influenced by pricing. In this current cost-conscious environment, governments and other healthcare providers/payers are honing in on the prices of new therapies and denying market access if the data doesn’t justify the proposed price. Economic and clinical data considerations should be incorporated into development and commercialization strategies to clearly communicate the product’s value proposition to market stakeholders. This article further explores the need for manufacturers to refine their conversations with payers about pricing by articulating the various components of value that go into deriving a particular price.Read More
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