Case study: Payer research to assess price potential for a portfolio of implantable medical devices
Key insights on market environment and purchasing process were provided, and market segments with higher willingness to reimburse and pay were identified.
Challenge
Client with portfolio of implantable medical devices needed a better understanding of the market and key players in multiple countries
Limited knowledge on the key players and their size, the reimbursement landscape of the underlying surgery and bundling within each segment
No clarity on current net price levels and pricing strategy for portfolio assets Need for portfolio pricing strategy
Actions
Secondary research:
- Review of information from secondary sources to support pricing and reimbursement assessment
Target Product Profile (TPP) development for 3 products and preparation of discussion guide
Primary research with payers and physicians to understand:
- Market environment and market drivers
- Perceived performance, end user price potential and willingness to prescribe of each TPP
Result
Key insights on competitive environment per market and market segment
Price potential assessed combining several methodological approaches
Price Response Curves derived enabling a visual representation of customers' price sensitivity
Delivery of strategic recommendations on key value drivers and price potential per segment
Modeling to determine profit optimizing portfolio pricing strategy