Reimbursement & Health Economic Assessments to Inform Market Access Strategy
The Situation
The client’s wearable technology, a non-drug, pain management system, is designed to relieve symptoms of Painful Peripheral Diabetic Neuropathy (PPDN) using electromagnetic energy.
In order to fully assess and execute a market access strategy for their product launch, our client needed to (1) develop a full understanding of the current standard of care (SOC) with respect to resource consumption and costs associated with PPDN, and (2) understand reimbursement options for their product.
Our Approach
We conducted a reimbursement assessment to define the appropriate patient population and usage scenarios for the client’s technology based on consideration of the current and evolving payer environment. Both traditional payer reimbursement (fee-for-service) and value-based reimbursement systems were reviewed as options for the client’s technology. We also conducted a health economic assessment and evaluation.
THE RESULT
Our reimbursement assessment and health economic assessment and evaluation allowed the client to develop an understanding of resource consumption associated with the current SOC for specific populations, including a detailed breakout of these by race, age and neuropathy stage. With the knowledge gained from these efforts, the client was able to develop a comprehensive strategy to accelerate market access.
