Situation: Although the product provided significant, clinical advantages over the state-of-the-art within the initial indication, future indications, of significantly higher potential value, would likely be more competitive.
CRA contribution:
- Conducted primary market research with multiple stakeholder groups: Physician, Hospital (in-patient, out-patient, and GPOs), Payer (Commercial and Part D), and Long-term care / skilled nursing facilities (SNF)
- Conducted in-depth market and competitor analysis to assess launch environment
- Used financial models to assess alternative pricing and contracting strategies and assess short run gains vs. long-run opportunities
Result: CRA created a pricing tool that leveraged market research findings to quantify the relationships between the new product’s list and net price, access and utilization in each channel, and the client’s resulting margin and revenue.