Commercial Strategy for the US Hospital Market
The client was 18 months away from launching a new drug for the US hospital market. The team asked DRG to help develop their commercial strategy.
Specific questions included:
- How should we segment and prioritize hospital accounts based on utilization and procedure patterns for priority indications?
- What are the most important attributes of the product and how do different combinations of these attributes impact potential use of the product and formulary inclusion?
- How do we develop and deliver a value proposition that will resonate with both target institutions and target providers as quickly as possible?
- What are the approximate price ranges to consider and how will price impact adoption?
- What is the opportunity for the product under various product and pricing scenarios?
- How should we approach launching the product (e.g., internally build, outsource, co-promote, etc.) and how big should the account team be at launch?
A unique and fully customized apporach was developed to solve these specific challenges, which included the following methodological approaches:
- Qualitative interviews and quantitative primary research with a broad cross-section of stakeholders
- Conjoint development and analysis, including market simulation
- Price/volume trade-off analysis with revenue optimization
- Analysis of DRG in-house and external data including hospital chargemaster and formulary data, and claims data such as CMS, HCUP, etc.