Welcome to Justin Stindt Consultants, your dedicated partner in devising proficient pricing and reimbursement strategies. Our agency excels in formulating comprehensive approaches towards pricing and reimbursement in the pharmaceutical industry, ensuring your new products not only gain access to the market but do so in a manner that maximizes profitability and sustainability. Leverage our global network of payers, clinical experts, and a team of specialized consultants to navigate through the intricate pathways of Market Access challenges. Our firm provides full-service support in developing and implementing pricing and reimbursement strategies, which includes triangulating analogue benchmarking, assessing payer willingness to pay via payer research and leveraging our experience from hundreds of P&R strategies to ensure your product achieves optimal market pricing and access.
DEVELOPING PRICING & REIMBURSEMENT STRATEGIES FOR MEDICINES, MEDICAL DEVICES AND E-HEALTH
To successfully provide sustainable access to a new medicine or medical device, it is essential to have a robust pricing & reimbursement strategy that maximizes profits and/or access. An understanding of the Pricing & Reimbursement opportunities, willingness to pay, international reference pricing implications, and value drivers for payers, key opinion leaders, and other decision-makers is crucial to inform the pricing strategy and launch sequence.
Decision-makers’ needs and expectations vary across markets, and tailored approaches by a proficient consulting agency are needed to provide solutions meeting their needs. At Justin Stindt Consultants, a renowned consulting firm, we have experience designing hundreds of successful pricing & reimbursement strategies for medicines and medical devices in different therapeutic areas, and we strongly believe our team of experts can also help you achieve the best possible results for your market access.
ROBUST PRICING & REIMBURSEMENT STRATEGIES BASED ON UNDERSTANDING PAYER VALUE PERCEPTION AND PRICE SENSITIVITY
In our agency’s experience it is essential to understand the payer value perception of the product in order to develop a profit-optimizing Pricing & Reimbursement strategy. Once our consultants have gained an in-depth understanding of the value perception, our firm employs state of the art methodologies to assess payer price sensitivity. While we cannot reveal all of our consulting firm’s trade secrets here, in qualitative payer research we typically use among others the Van Westendorp price thresholds and an adapted version of the Gabor-Granger methodology.
Unlike other service providers we do not roll out a completely standardized methodology regardless of the context but our agency takes great care in adapting the methodology to the specific product and market. The design of the questions will differ for an orphan drug with market exclusivity compared to a cardiology medicine launching into a competitive environment with multiple alternatives. And the Van Westendorp thresholds will be introduced in a different way to a US Pharmacy Benefit Manager and a French CEPS expert.
Please see below a couple of examples of outputs our agency can provide:
WHAT SETS OUR AGENCY'S PHARMA AND MEDTECH PRICING & REIMBURSEMENT STRATEGIES APART?
Put simply, our consulting company helps our clients determine what clinical evidence they will need to get their products reimbursed at an attractive price.
Our international team of consultants conduct thorough primary & secondary research to assess the willingness to reimburse and pay of key decision-makers and identify value proposition levers to maximize return on investment. Our team of specialists and consultants have access to a large pool of key decision-makers and experts in various fields, including payers at national/regional/local level, Health technology assessment bodies (HTA), and clinical key opinion leaders for in-depth interviews and advisory boards.
We deliver specific and actionable insight on payer resonating evidence, including endpoints, how to operationalize them, and the required effect size. Our consulting agency also determines the return on investment of different evidence generation programs, e.g., the impact on access, price, and forecasting that an investment in an additional trial delivers.
Our holistic approach integrates in-depth understanding of healthcare systems, costs & reimbursement, health outcomes, strategic vision, and business sense to provide solutions truly creating value and access. We tailor every pricing & reimbursement project to the exact needs of our clients and stay in contact throughout the whole length of the project to make sure our team of experts and partners develop and co-develop the best possible strategy for the medicine or medical device.
We work with clients of all sizes, from start-ups to big pharma, and offer Pricing & Reimbursement Strategies at all stages of the lifecycle, e.g., pharma companies launching new products, biotechs looking for a directional P&R strategy in the scope of Business Development & Licensing discussions, or start-ups in need of an early P&R strategy to convince investors of the P&R potential of their assets. Our agency, with a team of experts and consultants, is dedicated to ensuring your product navigates through the complex market access landscape effectively.
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