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We all are aware of how easy it can be to refer to the number of patients, the number of therapeutic procedures per patient, the number of therapeutic units needed and to write market penetration rates, prices, volumes on a PowerPoint presentation. Both our shareholders & Investors know this too.
VALUE FOR STAKEHOLDERS
The actual & perceived value of new products and services need to be carefully qualified and quantified looking at different aspects of their future utilization.
The value for patients: Does the product/service has a direct impact on a patient’s life? And, if yes, is it meaningful for patients?
The value for healthcare providers: Are there processes, cost advantages, outcomes improvement, or other upsides for the organizations delivering health care services? If yes which ones? Are these values actually quantifiable, measurable and to what extent will they actually be valued and appreciated?
The payers: Who will pay for it? Patients? Hospitals Insurance? Government? Is there a budget or will you have to convince the payer to establish additional payments?
Reimbursement: Does reimbursement exist? In which geographic areas is reimbursement is likely to
be more favorable?
The buyer: Who decides if the product/service is needed/useful? Who will make the final purchasing decision?
What segment of therapies and/or patients, best represent the target market for the new product/service?
How big is the target market globally?
What existing or upcoming direct and indirect competition must be considered in the target market?
What are other potential barriers to acceptance and market entry including implementation costs?
What percentage of the selected market represents a reasonable target for the new product/service?
What is the maximum acceptable price for the product/service? What is the price of alternatives?
What is the best estimation of the new product/service cost?
Are price and cost compatible from a profitability standpoint?
In order to identify, quantify and prioritize the target market opportunities our rational process embraces and investigates all the key opportunities .
HOW WE HELP
HOW WE HELP
For the Quantitative phases of market assessment, we have the ability to access, gather and structure all national and international data related to the therapies, patients, procedures and pharmaceutical consumption. Moreover, thanks to our analytic processes we transform these data from simply accurate to relevant information for the decision making of our Clients.
The more critical Qualitative phases of the Market Assessment are approached using different processes.
- Telephone Interviews with KOL and/or users
- Personal Interviews with KOL and/or Patient & Scientific association members.
- Focus Groups in person or in HD video conference
- Suppport your frontline organization to gather structured information from the field.
The goal is to gain structured insights to ensure a successful launch of the new product configurations. A well-structured focus group is the best occasion to better understand and complete the quantitative information gathered and analyzed during the first phases. In many cases, the Focus Group gives very specific information that can trigger a second phase of quantitative data gathering with much narrower scope. The Focus Group sessions should take place as soon as possible after the quantitative data is prelliminarly summarized. This will allow a “deeper dive” into any concerns and opportunities.
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