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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