Pricing and Reimbursement Quantitative Research
Objectives: To identify the profit-maximizing price through different price finding methodologies based on price response and profit functions
Research
- Performed qualitative research with payers and KOLs
- Applied discrete choice modeling and generated demand curves
- Incorporated demand curves into a market simulation model
- Performed thorough analysis of the results
Analyze
- Key attributes, levels, and potential pricing points that have impact on physicians' prescribing behavior were identified through qualitative discussions with payers and KOLs
- Discrete choice modeling was applied to best understand prescribing decision-making based on behavioral response (rather than preference judgment)
- For each scenario, unique demand curves were generated and incorporated into a market simulation model
- The simulator allowed the client full insight into the influence of specific product attributes on price and demand
Communicate
- Examined key criteria that are needed to ensure broad access and optimize market potential
- Determined value perception and changes in reimbursement decision-making and utilization based on potential price scenarios
- Identified and interpreted a value based price optimization curve based on qualitative and quantitative inputs
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