Closed Loop Marketing (CLM) – an effective marketing and market access technique in pharmaceutical industry

Constant refinement of USP and value proposition is one of the main principles of modern marketing and it has found a reflection in Market Access too. It is important for pharmaceutical and medical devices companies to know their customers’ perceptions, needs and expectations. To meet and satisfy the demand for specific information or clinical evidence and to assign a fair market price in ever changing and evolving healthcare evidence and Real World Data (RWE). 

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Health Economics and Outcomes Research (HEOR)

HEOR is a field of Economic Evaluations of Healthcare Technologies

Health Economics and Outcomes Research (HEOR) is an area of economic analyses that deals with the studies and mathematical models (simulations) based on available clinical, epidemiological, economic data and published evidence to inform rational and evidence based decision making. HEOR deals with allocation of funds for healthcare purchasing,  evaluations of the value for money of healthcare technologies, drugs and medical devices in order to inform budgeting and change in clinical practice decisions. Healthcare payers (government, insurance companies, hospitals) operating under constrained budgets are always seeking to maximise the output (value, health, procedures) subject to limited financial resources and other constraints (technical, time, legal, management changes).

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Payer engagement apps and tools for pharmaceutical and medical devices market access

Pharma and medical devices companies put a lot of effort into development of their product value story. The value story often takes a form of an MS Excel file or a Power Point deck containing detailed information on burden of illness, product profile, clinical differentiators and health outcomes.

The question is – do these conventional document formats communicate product value story effectively ? Most probably not. With modern digital tools Key Account Managers (KAM) and Medical Science Liaisons (MSL) can present health data and evidence to payers and healthcare providers more effectively.

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Budget Impact Model app for iPad and Web – an effective tool for payer engagement

iPad budget impact model apps – communication tools for engagement with payers and prescribers

Live tool example

Budget Impact Model (BIM) is the health economics type of model which calculates the net cost of including a new drug or therapy into certain healthcare system or payer, hospital settings. Budget impact model app (budget impact analysis) quantifies the financial impact of a new therapy (drug, medical device, vaccine) for a decision maker (payer), thus allowing pharmaceutical and medical device companies to clearly and persuasively communicate the product cost and clinical value. It is accomplished through measuring the net cumulative cost of particular drug or therapy for a specific number of patients, with at least two (including and excluding the product in question) comparative scenarios.

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Why eDetailing is an effective way to communicate your value story?

Usually when sales rep has a meeting with doctor, payer or provider, the time frame is very tight. It is a matter of minutes for the rep to bring the key message to a target audience. It is important to spend the time rationally and present the core idea alongside strong arguments, while being as laconic as possible.

However, this does not mean that the presentation shouldn’t contain supplementary information and specific details the payer might potentially be interested in. It should, together with evidence for all possible answers for the questions that may occur. In other words, the rep must be ready to be as precise and informative, as the audience requests.

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An engine for automatic transformation of Excel models to JavaScript

A few years ago Digital Health Outcomes faced a need to develop an engine core which would be able to automatically transform Excel models with all their logic, formulas and dependencies to JavaScript. The reasoning was simple: instead of doing the whole transformation process every time for each model, it was enough to write the core once and then use it for all the subsequent case, thus significantly reducing development time.

The goal was clear and the challenge was accepted.

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What are the Advantages of Web Based Health Economics Models for Devices Market Access ?

Despite the prevailing trend of “consumerization of information technologies”, many mathematical models in various industries (life science, financial, R&D etc.) remains Excel-based. Yet a few years ago, IT was mostly associated with technical specialists – people with sufficient software/hardware knowledge and skills, but recently IT has become more accessible and easy to use for wider audience. Thus, removing main barriers for transformation of mathematical models (health economics, financial, etc) into a more interactive and customer-oriented form with much wider scope for development and customization.

Needless to say, custom development, as against traditional Excel, also enables new presentation layer options, which usually take the form of nice looking and interactive dashboards, while model inputs are done in the form of interactive sliders, drop boxes, radio buttons, checkboxes etc.

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