A leading orthobiologics company developed a novel therapy that was less invasive and more efficient than traditional methods of treating bone fractures. International studies reported positive results, which—given the potential clinical and economic benefits of the method—convinced one of the most respected worldwide health technology assessment agencies to recommend its use. However, due to a local negative reimbursement decision, the company’s product was limited to a small portion of one of Europe’s largest markets. Additionally, low-cost alternatives with inferior results were starting to compete. Without any local reimbursement, how could they increase sales?
The company approached ValueConnected to develop a market access plan to drive market penetration up and to protect prices against products with unproven results. The main challenge was finding the right arguments to convince buyers despite the company’s issues with reimbursement and competition.
ValueConnected mapped out the entire market to identify those segments most willing to adapt the technology early on, thus creating support for future reimbursement applications. Next, ValueConnected worked with the company to identify specific product messages that aligned with the needs of the targeted segments. The goal was to help the company find ways to communicate the value of its novel therapy even without reimbursement in place. By validating evidence and quantifying the benefits of the technology, the company was able to achieve its goal.
In the end, ValueConnected identified three main arguments to convince targeted decision-makers:
By working together with the company, ValueConnected positioned their product to the ideal market segments, identifying the best payment methods for the technology and creating unique messages to distinguish it from competitors. The result was a detailed market access plan, focusing on short-term activities to increase current sales and generating results to build momentum for future sales growth and reimbursement.