Medtech Pricing Strategies and Tactics

LEARNING JOURNEY

Capturing a fair share of the value from your MedTech Innovations throughout the product lifecycle

1. Introduction and Pricing Basics

• Explain the scope and importance of the MedTech market.
• Deep dive into the importance of pricing in Medtech.
• Introduce core pricing concepts (value, competition, cost, barriers to value etc…), tools, and frameworks (value hive, value maps, price waterfall, etc…)

2. Market Access and Reimbursement Basics

• Ensure participants are aware of the key MA&R concepts and how they influence pricing decisions.

3. Designing the Optimum Price Architecture)

• How to design the price architecture that will maximize value capture over the lifecycle of the product or service

4. Price Execution To Capture A Fair Share Of The Value And Minimize Price Leakage

• How to organize and design processes and policies that minimize unnecessary price leakage

• • Designing a price-setting process.
  • Optimizing incentives for channel partners to align commercial objectives.
  • Effective value and price communication.
  • Designing price exceptions consistently.
  • KPIs to track price performance.

5. Optimizing Prices at Your Organization

• Ensure that participants can realize value from the training by putting relevant concepts in place at their organizations.

• • Summary of the core concepts covered.
  • Prioritization exercise for possible next steps.
  • Next steps and follow-up actions documented.