Using Popper’s Inside Out Diagnostic, we helped an emerging device company with pricing strategy and constructed a quantitative cost-in-use model to enable prospective customers to appropriately assess the value of their device.
Assessment of Business Needs
Popper and Company was engaged by an emerging company that has developed an innovative device to facilitate repeated blood draws from hospitalized patients, reducing both the pain that patients experience and the time hospital staff spend securing blood samples. The client was unsure of its pricing strategy and needed quantitative and qualitative evidence of the full cost of these procedures to enable prospective customers to appropriately assess the value of their device.
Interviewed a large, geographically diverse, interdisciplinary sample of hospital stakeholders to identify clinical needs, economic costs, perceived value, and workflow impacts of repeated blood draws.
Reported to client on unmet needs, spheres of influence, barriers to adoption and decision-making processes that would impact how their product would be assessed.
Researched the medical and health economic literature to ascertain the incidence and cost of a variety of events relating to repeat blood draws, and the various patient populations likely to need them.
Incorporated additional information from clients’ clinical studies to date regarding impact of its device on the baseline figures from the literature.
Constructed a quantitative cost-in-use model from the hospital’s financial perspective, including annotation of data sources and ability to modify with any given hospitals’ actual data.
Advised executive management and board members during their pricing deliberations.
Synthesis and Outcome
Popper and Company authored a comprehensive white paper summarizing its Cost-in-Use analysis, including annotated sources for all inputs to the quantitative model upon which it was based. The client used those results both to inform its commercial pricing strategy at launch and to develop a suite of launch support materials and training programs for its sales team as well as prospective customers.