Satisfying stakeholder demands is paramount to an intervention’s success and to rapid adoption and market access
Date Time 16:00 - 17:00
Location Webinar Timezone Europe/Lisbon
Join us as we discuss an approach to evidence-generation strategies in drug and medical device development that enables integrated teams to develop and implement targeted and effective value propositions.
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While there are many definitions of value, Michael Porter’s “health outcomes achieved per dollar spent” resonates well. To apply this requires recognition of what stakeholder spends the dollar, what they get for their investment, over what time period that investment results in a return, or health-related value, and how and who defines that value. Considered broadly, this relates to how various healthcare resources are utilized as well as how they are allocated across the health care system. Once launched, an ideal new intervention should lead to more efficient resource utilization for all stakeholders.
Conceptually, an economic investment in a new drug or device designed to deliver a high quality health outcome results in a meaningful and reproducible improvement in clinical or humanistic outcomes for patients. An improved health outcome for the patient defines the fundamental value for the new intervention.
It is reasonable to expect that an economic investment in a high quality health outcome should offer an offsetting value, or reason why patients and care providers should have access to that new entity. The reality, however, is that stakeholders’ values often are not universally aligned and one or more of them may perceive that their opportunity to obtain value from the new product is somehow compromised. In the United States health care system, this often relates to an imbalance in the perception of the timeline between purchasing the investment and realizing the offsetting value.
We will discuss value return periods, how various stakeholders perceive them, and how this relationship must be mapped out prior to determining what value proposition may be best aligned throughout the health care system and how that understanding will inform the strategic process for design and implementation of a robust evidence development plan.
Key insights include:
- Development of stakeholder value maps as a guide for evidence development
- Encouraging interdisciplinary collaborations to define differentiating value
- Prioritization of stakeholders as customers for robust evidence
- Conceptualizing a stakeholder targeted evidence planning process
Those working in:
- Health Economics and Outcomes Research (HEOR)
- Reimbursement and Pricing
- Marketing and Market Access
- Policy and Government Affairs
- Clinical / Medical Affairs
- Regulatory Affairs