Pricing & Market Access Strategy Practice

Within PriceSpective's Integrated Value Strategy capability, the Pricing and Market Access Strategy practice provides the strategic foundation for our value strategy work.

 

Product P&MA Strategy

• Develop value strategies throughout the product life cycle:
  
  • Early phase landscape assessment
  • Price setting
  • Value story, payer messaging, line extensions and end of life strategy

Environmental and Policy Forecasting

• Maintain vigilance on ongoing development in global healthcare systems and policies

Pricing Process and Infrastructure

• Develop internal pricing functions and capabilities, design organizational structures and P&MA processes, and develop implementation guides for responsibility, accountability and communication

Education, Training and Thought Leadership

• Develop customized client workshops covering general principles, practical application and biopharma-specific implementation of value-based pricing

Our Edge

Success stems from our unique strategic approach, driving customized tools and techniques, managed by experts. The biopharma and medical technology industries are highly innovative, and subject to unprecedented dynamism and volatility in their market environment. The ability to adapt and stay ahead of the change is essential to success.

Strategic Approach

INTEGRATIVE ANALYTICAL FRAMEWORK
Our intuitive but comprehensive analytical framework forms the heart of our strategic, hypothesis-based approach to P&MA strategy. Used in hypothesis workshops with clients, the framework facilitates unified thinking around the likely opportunities and challenges facing each product, and is an essential process step in structuring and focusing primary research.

Three core constructs form the basis of our analytical framework.

Value-based pricing is predicated on understanding the relationship between the offering and its perceived value.

Purchase decision analysis is used to assess the stakeholders relevant to product selection and access as well as to understand the “buying system.”

Global optimization is achieved by understanding the tradeoffs within and across products and markets.

Our intuitive analytical approach allows us to structure the complex interactions between patients, healthcare providers and payers so as to evaluate and identify key points of leverage. This framework also allows us to simplify complex pricing and reimbursement issues and generate targeted, actionable recommendations.

Strategic Approach

DYNAMIC LANDSCAPE MODELING

The dynamic P&MA landscape requires understanding a complex, changing purchasing environment. Dynamic landscape modelling uses system dynamics to map and model the evolving market access landscape.

This innovative approach aids team collaboration in visualizing and scenario planning around the workings of the purchasing system. It also provides a “live” planning tool rather than simply a static report, which has ongoing value followingthe engagement.

Expert Guidance

Helping you navigate the challenging waters of global pricing and market access is a team of professionals with unsurpassed expertise and experience in the field. Nearly all our senior staff have held leadership positions in Global, US or UK Pricing/Market Access and/or Marketing in top pharma companies. Our exceptionally high level of service quality and repeat business are driven by a flat operational model, ensuring that senior management are deeply engaged in guiding all aspects of project delivery

Extensive Research and Analysis Capabilities

Primary research is a core component of most engagements. To ensure maximum impact and insight, we have developed a direct network of over 1,000 payer stakeholders, with the ability to easily access additional specialists depending on the project needs via our extensive range of alliance partners across the globe.

PriceSpective uses a variety of research techniques, tailored to each situation, with a qualitative approach applied typically for early value pricing assessment and value story development, and a quantitative approach for price setting or more robust payer message testing.

A hallmark of our approach is that payer interviews are only conducted by senior PriceSpective personnel, allowing for deep probing of the responses to price and value questions, and flexibility to elaborate on topics which may be “outside the script”. This approach ensures that we are providing meaningful “insight” from payer interviews and not just research results. These insights, in turn, are assimilated within our strategic framework to provide a cohesive set of P&MA planning recommendation and tools.