One of the more challenging aspects of product marketing strategies medical industry manufacturers encounter is pricing a product to capture its value. Maximizing profits and also providing perceived value to the hospital and healthcare organization is a fine line to walk for many manufacturers.
Through various methodologies, InforMedix is able to provide our clients with solutions to optimize pricing strategies. One-on-one discussions or focus groups with clinicians and purchasing professionals will lead to insights for price range while also revealing price sensitivity issues.
One new method InforMedix has pioneered is the simulated Value Analysis Committee (VAC) study. A guided group discussion includes decision makers from a variety of hospitals– surgeons, nurses, purchasing managers, and hospital administrators. In addition to price points, this simulation with decision makers offers our clients invaluable insight into how new devices will be evaluated when a vendor approaches the hospital during product introduction.