Defining a Strategy to Increase the Adoption of Products in the Medical Technology Space

market assessment

Client Challenge

The client is a global leader in medical technology with a presence in more than 120 countries across the globe. The client requested UC Strategy 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.

Our Approach

UC Strategy 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 was 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 widespread benefits, along with the strategic initiatives to be prioritised for the respective agency

Our Impact

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.

 

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