We are introducing a series over the next few months, for those interested in learning more about pharmaceutical pricing, reimbursement, and market access.
Topics will include:
- What is Market Access?
- What is a Payer?
- IRP – what it is and where to start
- Benefits of early dialogue with HTA
- What are Managed Entry Agreements?
- What is EMA HTA parallel consultation?
This months’ topic is ‘What is Market Access’ and covers how important having a robust market access strategy in place is for the successful launch of a product.
What is Market Access?
Market access is a broad term that is used to describe activities and processes that pharmaceutical and biotech companies undertake to secure a reimbursed price, which reflects the product’s value for the broadest possible patient population within the shortest feasible timeframe.
In order to deliver commercial success, a good market access strategy is required which identifies the product’s value from a payer perspective; gathers payer-relevant evidence within the products clinical development program and effectively communicates the product’s value to relevant stakeholders.
Over the years a number of market access tools have been developed which enable companies to effectively communicate a product’s value to facilitate Health Technology Assessment submissions and pricing and reimbursement negotiations. Such tools include global value propositions, global value dossiers, health economic and budget impact models. These tools can help companies to successfully implement the market access strategy.
Having a robust market access strategy is not only vital at the launch of a product, but also throughout the lifecycle to help maximise the product’s revenue potential. Payers today often request additional clinical data in their price re-evaluations in order to maintain price and patient access to treatment. Any deficiencies in a product’s market access strategy will not only impact patient access at launch but will have a profound impact on the product’s financial returns which can negatively affect the value of the product throughout its lifecycle.
Remap Consulting is an expert Market Access Consultancy, with over 40 years of combined experience in pharmaceutical pricing and reimbursement. We can develop your pricing and market access launch strategy, from the development and adaptation of the pricing strategy through to submission of local HTA or pricing and reimbursement dossiers to achieve timely market access of your product. Our expertise in global pharmaceutical product launches and involvement in over 40 pricing and reimbursement submissions, provides real-world evidence insights that can help ensure a successful pharmaceutical product launch. We can also provide market access training tailored to your organisation and products. Read one of our case studies here.