Case Study

Demonstrating value to buyers

One of the largest medical device companies launched an innovative therapy for the treatment of a common esophageal condition that would reduce the incidence of expensive complications. In most markets, clinicians were convinced of the benefits of the innovation and were willing to recommend its use. However, the company also wanted to propose a new business model that would increase up-front costs for customers while providing strong clinical and economic benefits in the mid-term. Suddenly, teams shifted their focus from clinical decision-makers to equipment buyers, and the company realized it needed a new commercial approach.

To secure new stakeholders, the company hired ValueConnected to guide its clinical, marketing, and sales teams in creating a tool that would both summarize the clinical evidence and demonstrate the economic benefits of their innovative therapy within the first year of adoption. Such a timeframe would match buyers’ annual budgets.

After assessing the entire evidence base of the product, ValueConnected interviewed local stakeholders and researched official databases. They aimed to obtain cost data and quantify the potential savings generated by the new form of therapy. The challenge was in demonstrating to buyers the value in avoiding complications associated with the condition, something well understood by clinicians but not by purchasers.

By the time the research was completed, ValueConnected had created an app that demonstrated the clinical and economic pros of buying the product in less than one minute. Before launching the app, ValueConnected tested it with a buyer who, after using it, claimed that “It not only provided clear answers, but also helped me with my job.”

The final step for ValueConnected was to deploy the tool and teach the commercial team how to use it. In spite of the varying levels of experience among team members, the tool was simple enough to be learned quickly, and also managed to supply the appropriate amount of data to demonstrate both the clinical and economic benefits of the therapy.

Conclusion

During the following months, the company used the app to approach purchasing groups and to increase sales. The app was later updated to reflect new evidence and data, without the need to further train teams. Based on the success of this initiative, the company contacted ValueConnected again to develop similar apps for other countries, thus continuing the use of value to drive sales.