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Go-to-Market Pricing & Clinical Workflows: Cardiac Medical Device

Go-To-Market Pricing Study and Clinical Workflow Assessment

Background

A medical device company was preparing to launch a novel product used in interventional cardiology – one that offered improved performance, simplified clinical workflows and reduced procedure times.

We were engaged to quantify the benefits of the new device in light of direct cost savings, workflow streamlining and patient safety & outcomes to assess a go-to-market target price.

Approach

Held discussions with interventional cardiology and cardiac surgery KOLs to understand current clinical practices and unmet needs.

Conducted onsite visits at labs to develop a detailed view of how the device would impact current workflows.

Spoke with hospital administrators to elucidate purchasing dynamics and economic drivers behind product selection.

Leveraged detailed data from CMS to estimate hospital-specific revenues and costs by cost center.

Quantified the budget impact of the company’s new product (direct costs, labor, time savings, etc.).

Developed a set of detailed clinical workflows, hospital budget estimates, and prioritized customer segment definitions to produce a data-driven target price range for the company’s new product.

Outcomes

The company used our findings to support a successful round of funding to enable a robust and fully resourced market launch campaign.

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