Mock Committees Recreate Hospital Decision Making Process
Cost pressures and increased budgetary scrutiny have resulted in more difficult and complicated healthcare purchasing processes that involve more and more decision makers.
To prepare our client for a successful product launch, Valut conducted a series of interdisciplinary mock new product approval focus groups to:
- Understand how to best position our client’s new medical device for adoption at a new product approval committee meeting by observing discussions between clinical and administrative parties firsthand, as decisions are made
- Gauge an acceptable price point for this new disposable product that was designed to replace current reusable alternatives.
Vault has developed a unique methodology using mock new product and formulary approval committees to recreate the interdisciplinary decision making process. For this particular medical device, we conducted focus groups in the US and Europe among Nurse Managers, Head WOCNs, Surgeons, CFOs and Directors of Procurement, all with a high degree of influence in new product selection at their hospitals and budgetary influence.
During the product “pitch,” respondents were exposed to a new disposable wound care device designed to replace current reusable systems. Following the pitch, they were asked to recreate the ensuing discussion at their fictional hospital’s Value Analysis Committee meeting. To help gauge an acceptable price point, respondents were exposed to current alternative treatments at estimates of their current prices and to the test concept at several different price points.
Our client gained valuable insight into positioning and pricing their new wound care product, and achieved a successful launch.