When facing questions from economic decision-makers such as, “Why should I pay for your product?”, sales teams typically respond by describing their medical products in detail. Although an understanding of the products’ features and characteristics can answer important clinical questions, this approach is not sufficient to convince those concerned with cost and budget.
Sales teams require fast and practical tools to communicate effectively to purchasing departments. These tools should take the vast amount of information generated by clinical and economic departments and summarize it in a way that can be easily commercialized.
Value dossiers are compilations of information on a certain product, including all clinical and economic facts and figures. Effective value dossiers clearly represent the processes used to collect evidence to generate sales.
The key aspect of the dossier process is to respond to the market accordingly. Decision-makers are constantly hearing about the latest innovation with the latest features that surpass current technologies, yet they still ask, why should we pay for it? What are the benefits of these incremental features?
These days, the healthcare market demands value, which is rarely communicated in product brochures and other marketing materials. When faced with this reality, companies waste considerable amounts of time responding to economic decision-makers with some “cost analysis.” This is where value dossiers make a significant difference. Dossiers directly support sales teams in positioning products as solutions to market needs, not as “just another expensive medical technology.”
Initially, value dossiers were created to support technical submissions, such as reimbursement applications. However, we believe that is only a small portion of the benefits of value dossiers; they should not be limited to health economics or reimbursement departments only. Every day, commercial teams must respond to economic decision-makers and they rely on value dossiers to guide their claims.