Publication Date: August 2013
Top Reasons to Buy This Market Access And Reimbursement Report
Market Access Budgets Increased from 2011 to 2013: Though some companies’ market access budgets dipped slightly in 2012, the general trend of increasing budgets continued through 2013. Allocate budgets more effectively to key market access subfunctions throughout product development. Track market access budget trends and projections from 2011 to 2014.
Involve HEOR, Government Affairs, and Pricing Early in Product Development: The timing and level of involvement of health economics and outcomes teams, as well as the government affairs function, can be the key to securing reimbursement for pharmaceutical products. Coordinate various market access groups’ involvement at the most opportune times during product development — and ensure a smooth launch. Know when and how often to assess your market access strategy — and establish a schedule to do so.
Prioritize Market Access through High-Level Leadership: Whether companies have dedicated market access teams or address the function on an ad hoc basis, market access teams are most often led by directors or higher positions. Discover how companies with and without dedicated market access teams meet reimbursement requirements and support diverse portfolios. Build market access teams to grow alongside developing products to ensure efficiency and adequate resources throughout development and launch.
Excerpt from Market Access and Reimbursement
With such a wide variety of needs, many market access executives have difficulty finding employees who hold any combination of the skills and talents required for the job. Companies should work to attract the talent necessary for a complete team to help market access make the largest possible impact upon company strategy. A highly skilled, efficient market access group allows clinical trials to meet the endpoints that payers want to see, as well as makes sure account managers can best negotiate a better price with the payers. These payers are mainly government entities and insurance companies, but also include hospital systems with their own formularies. The role of market access teams ranges this widely because, even if public and private insurance plans agree to reimburse the product, hospitals need to have it on their own fomulary in order for the product to be accessible.
However, securing adequate resources to build a well-rounded team is a necessity for the success of market access groups. On the whole, market access budgets are steadily increasing, giving the teams more of the flexibility they need to achieve reimbursement for products. Market access budgets are also being allocated efficiently according to current trends in regulations and payer requirements. Health economics and outcomes research (HEOR), for example, has begun to receive a higher portion of the budget than before. This increase in resources follows the trend of government payers beginning to consider and implement requirements for HEOR data upon product launch.