Using Value Communication Technology to Accelerate the Local Formulary Application Process
After securing a reimbursement listing in the United Kingdom for an innovative new glucose monitoring system, our client identified the need for an interactive tool to aid negotiations with key payers and stakeholders involved in the formulary application and approval process at the local level. Turning to Certara’s BaseCase value communication platform, they were able to create an app that integrated a budget impact model with an interactive and intuitive user interface.
With many local formulary approvals to gain and increasing budgetary pressures on local payers, the Market Access team needed to demonstrate their product’s benefits and value clearly and concisely.
The interactive app built using the BaseCase platform facilitated this by visualizing the value story, enabling audiences to clearly see the benefits of the new product to their localized populations. Input variations such as population size and product uptake could also be edited and re-calculated to present a fully-tailored value story. This culminated in much more personalized, value-based discussions between field teams and local key decision-makers. And played a key role in the product receiving approval in over 100 local health economies.
Headquartered in the U.S., our client is a global healthcare, medical device, and diagnostics company specializing in a variety of therapeutic areas. With over 100,000 employees globally operating in over 150 countries, their revenues consistently rank them in the top tier for their industry. Their diabetes business unit offers a variety of products that enable patients to accurately monitor and manage their glucose levels.
