Market Access Strategy
The importance of implementing a payer centric approach instead of a standard product centric approach to communicate the value proposition.
Although each market sets its own rules the analysis process that will lead us to an appropriate access strategy is similar and most public environments move in the same or similar parameters to make decisions.
The access strategy does not end with the decision of a single agent (e.g. only one central payer) and continues with the physician; there are multiple other decision-makers (and payers) that incorporate elements that directly affect the prescribing capacity of the physicians in a health system.
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Typically, consulting companies focus on a product centric approach when communicating the value of a product to the payers. This process entails starting with the product development area that analyzes the clinical program.
Then it continues with the product value story that defines the product’s added value and differentiates it from existing products as well as maximizes the available clinical, economic, PRO data. It is considered product centric as it focuses on the product’s value when identifying the key objections to the available data.
Finally, with the Global Value Dossier, they tend to develop a dossier covering three main areas which are the relevance of the disease, the therapeutic and the economic value.
In PharmaLex we focus on the payer instead of the product that’s why we have designed a unique approach. We firstly analize the eye of the beholder by archetyping the different payer trends towards assessing a new technology for price and reimbursement. We look at it per region and per specific therapeutic area.
We then build a payer value story which starts by defining the product’s added value and differentiate it from the existing products. During this step it is important to adapt the story by payer archetype. In this section we also find the relevant gaps in the clinical, economic and PRO data as well as alternatives to mitigate evidence gaps. One of the most important parts we focus on is identifying the key objectives to the proposed value story this way we save the client time and money from possible failures.
Finally, we focus on the Global PAYER Value Dossier which entails developing a value dossier that covers an additional area in comparison to the product centric approach. Here we focus on covering the relevance of the disease, the therapeutic and economic value as well as the societal value.
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Health economics and outcomes research (HEOR)
To achieve an effective patient access to the innovation, the product must demonstrate value to the funder, the payer, the clinicial, and the patient. We develop different types of health economic models from Early-Phase to highly complex. Demonstrate the economic value.
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Being a global company with an extensive geographical reach, thus far, PharmaLex can carry out these evaluations in Europe, Australia, Canada and US.
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