Our client was looking to demonstrate the clinical and economic value of their oncology product through a value proposition and budget impact model that confidentially compared net prices of products.
Typically, budget impact models enable comparison between products by using publicly available ‘list’ prices. However, both NHS and industry are aware that these do not reflect the actual cost of the treatments, as list prices do not account for the discounts negotiated by healthcare providers. Our client was looking to enable their customers to compare the net price of products, including these confidential discounts, to give a true picture of the value of their product.
We developed a succinct and impactful value proposition to highlight the clinical value of the product, combining this with a budget impact model to show the financial benefits.
To enable the use of net prices in the comparison, we also developed a ‘web companion’, which allowed our client’s customers to access an online version of the model where they were able to confidentially enter the percentage discount for each of the treatment options. This allowed for a more realistic price comparison between products, providing a ‘true’ picture of the budget impact that was not diluted by using list prices.
The ‘web companion’ was designed so that the customer accessed the tool via a unique URL that contained all the relevant information from their discussion with our client’s representative (e.g. population, market share, etc.), delivering an omnichannel user experience. The customer could view this information, but were only able to adjust the % discount for each of the products. The customer could adapt the model to reflect the actual prices they pay and see an accurate comparison, yet any information they entered would not be visible to our client, ensuring that complete confidentiality and trust was maintained.
In addition to a top-quality value proposition and budget impact model, our client received an innovative tool that allows them to navigate around the problem of how to give a true reflection of the financial impact of products without access to real-life prices. Their field teams can help their customers understand the ‘true’ budget impact of using their product whilst also highlighting the financial and clinical benefits.
This approach and technology provide an innovative way to offer true comparisons between products, where full discounts and pricing data are only available to the customer. This technology could be adapted to be used in a range of therapy areas, particularly those with many competitor products and where these are subject to local contracting and significant price variance.