Global Market Access Solutions

Setting the optimal price for a new product

Setting the optimal price for a new product is perhaps the single most important factor in determining the long-term value of your product medical . It is also one of the most difficult challenges for manufacturers, given the complex pricing and reimbursement systems internationally, and the dynamic nature in which markets are inter-related. GMAS has considerable experience in conducting pricing evaluations for new products and life-cycle management including:

• Qualitative and quantitative pricing research
• International reference price mapping and dynamic price modelling
• Price analogue analysis and comparison with therapeutic benchmarks
• Value-based pricing models to identify optimal price based on attribute assessment.

Commercial strategy

In the current healthcare environment, manufacturers can only realise the full commercial potential from their therapies by placing the value to payers benefits to patients and the benefits to patients the value to payers at the centre of their commercial strategy. To ensure successful strategy development, a range of factors are considered, including clinical benefit, comparator pricing, addressing unmet need, economic value, patient benefit – all considered within a changing reimbursement environment and new market entrants.

Development strategies

Our experience in conducting international and national level advisory boards spanning multiple therapy areas has been successfully used to inform development strategies, commercial assessment, and pricing strategies. We can assist clients in identifying therapeutic and reimbursement experts, develop meeting content, coordinate meeting agenda and participants, and provide detailed output from stakeholder engagement meetings to inform future development and market access strategy.

Understanding of market dynamics

By applying our understanding of market dynamics in an evolving healthcare environment, we advise our clients on the commercial viability of different in-license opportunities. Furthermore, we can partner with companies seeking out-license opportunities to realize full commercial potential to ensure appropriate contract terms are reached. We have worked at different stages of the in-license and out-license process to inform business planning and opportunity assessment.

We can provide a full range of analytical services, including:

• Economic evaluations

  used in Health Technology Assessment (HTA) and pricing and reimbursement submissions, including analyses and written dossiers that have been submitted to the PBAC in Australia; Pharmac in New Zealand; NICE, SMC and AWMSG in the UK; PBB in Finland; Zorginstituutin in the Netherlands; RIZIV in Belgium; and TLV in Sweden

• Interactive costing tools

  for communicating economic benefits to funding agencies and decision-makers

• Quantitative value assessments

  for use in value-based pricing or asset price evaluation as part of revenue forecasting or due diligence activities.

Modelling framework:

The public economic perspective modelling framework treats health costs as a public investment, and not just a cost. Therefore, it reflects the value of investing in medical technology attributed to gross and net tax revenue to government from improvements in health status.

We provide

The public economic modelling approach has been successfully applied in several policy and reimbursement negotiations. We can provide interested groups with a range of published documents highlighting the fiscal benefits attributed to healthcare interventions and to discuss its application in policy making and reimbursement decisions.

We have experience developing a range of communication tools to satisfy different audiences:

• Internal and external stakeholders:

  Global and national value dossiers (i.e., GVDs), reimbursement and pricing strategy documents, web-based content

• Healthcare decision-makers:

  Pre-submission documents and reimbursement dossiers, pharmacoeconomic dossiers, formulary packs, tender dossiers, eModels

• Healthcare experts and decision-makers:

  Peer-reviewed publications, conference abstracts, medical symposia content, trade association journals, conference posters and slide decks

• Policy makers:

  Policy briefing tools, press releases.

iPad based cost-consequence calculators

• interactive budget impact models (BIM)
• payer engagement tools for field force
• simple return on investment (ROI) models

See live demo

Value communication tools

• eDetailing apps for external engagement
• evidence and value story repository
• interactive GVD and optimised value presentation

Custom software solutions

• mHealth apps
• custom build ePRO apps
• interactive health data visualisations

Multi-criteria decision

Furthermore, we have developed a multi-criteria decision analysis tool that can be used by internal stakeholders to assess the innovation of a product and the ideal indication prioritization, and which can be used externally with key opinion leaders, decision makers and payers to demonstrate the product’s value-add that usual cost-effectiveness models don’t offer.