Defining a Strategy to Increase the Adoption of Products in the Medical Technology Space
The client is a global leader in medical technology with a presence in more than 120 countries across the globe. The client requested UC to develop a business strategy to increase the adoption of their products by influencing the policies and procedures of Government reimbursement agencies (railways, defense, ESIS and CGHS) and voluntary health insurers.
UC created this business strategy following the process below:
- Conducted extensive primary research supported by secondary research with private insurance companies, government policy makers, regulatory bodies, third party administrators (TPAs) and hospitals to understand the following:
- The role they played in the relevant disease categories and the parameters that are included in the underwriting and pricing policies
- Levers that drive inclusions and exclusions of different medical procedures and devices
- Examined coverage schemes
- Incidence of treatments were characterised along with reimbursement practices
- Outlined the economics of procedures along with ceiling limits
- Defined levers to drive adoption along initiatives to drive market access and reach
- Identified influential agencies that should be targeted to realise the most wide spread benefits, along with the strategic initiatives to be prioritised for the respective agency.
Developed a strategy with defined action points, that will enable the client to influence the policies and procedures of reimbursement agencies and to increase the coverage and subsequent adoption of their products.