Recent Engagement 4:
Business Challenge
In preparing for the launch of a new biologic product, our client, a major pharmaceutical company, needed to quickly gauge the likely reaction of private payers to a new entrant in an already crowded category. Our client was particularly interested in understanding the range of payer policies that could impact access to their new product across the market and within specific accounts. This level of insight was needed to shape the strategic and tactical positioning of the new product to payers.
Methodology
Strategyx followed a phased approach to conducting this project. The project team identified, recruited, and surveyed key Medical Directors and Pharmacy Directors at major U.S. managed care organizations. Each survey was followed up with one or more in-depth, one-on-one interviews to identify the critical processes, participants and sources of information used in decision making around critical policies. These responses were then used to define segments that could be used to predict likely customer reactions to the new product. Qualitative and quantitative research was validated through secondary sources then presented to a client steering committee in the form of strategic launch scenarios that encouraged leadership alignment around key issues and opportunities and customer segmentation.
Deliverables and Results
As a result of this effort, the client’s organization gained specific knowledge related to key payers including a framework for modeling decision-making behavior, likely acceptance, and reimbursement hurdles for the client’s new product. This knowledge was used to build actionable market penetration and product messaging strategies as well as to guide the client’s investment in tools and tactics targeted at specific opportunities in the payer space.
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