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ConvergeHEALTH Miner™ Access Suite
Hone your market access and reimbursement strategy
Pharmaceutical pricing has become increasingly complex, and state regulations often further complicate this landscape. How can companies improve market access and reimbursement strategies for greater transparency—and improved patient outcomes? Through the data science–driven, integrated platform of ConvergeHEALTH Miner™ Access.
The importance of linking strategy and operations
You know the saying, “You only get one chance to make a first impression”? Well, here is a similar one for pharmaceutical manufacturers: “You only get one chance to set a product’s launch price.”
Formulating an effective pricing strategy is critical to help ensure that a new product is accessible to patients and fulfills business objectives. The process is complex; the manufacturer must set both list and contract prices while being thoughtful about business objectives and competitive market dynamics.
In addition, a new environment is emerging that may upend pharmaceutical product pricing and contracting, requiring a new generation of contract life cycle management solutions. The driving forces include the following:
- Shifting company portfolios
- Drugs with multiple indications
- Drug approval process acceleration
- The introduction of cell and gene therapies
- An increasing push to manage product pricing and contracting globally
The time has come to make the process, technology, and operating model changes needed to realize the business benefits of effectively orchestrating the end-to-end pricing and contracting life cycle. Learn how integrating strategy and operations, with the help of a modernized-integrated pricing and management solution, can help you achieve product pricing and contracting success.
The Interconnected World of Pricing, Market Access, and Value-Based Decision Making
Watch this webinar replay to learn about an integrated and intuitive approach to linking pricing, contracting, and value-based decisions in order to create organizational agility and an ability to scale in a quickly changing, complex landscape.
Miner Access: Deal, pricing, and value-based analytics
ConvergeHEALTH Miner™ Access Suite is an integrated and intuitive suite for overall pricing, market access, and reimbursement decision support at scale. Deal and pharmaceutical pricing analytics leverage overlapping data elements and interoperability to create a decision support tool for improved pricing and reimbursement strategies.
ConvergeHEALTH Miner Access Suite
With the ConvergeHEALTH Miner™ Access Suite, data science is used within an integrated platform that helps organizations define and anticipate the impact of contracting and pricing relationships. This enables increased market access and improved outcomes, including reimbursement, through the following modules:
- Deal analytics:
1. Pre-deal modeling: Enhanced use of third-party data and AI techniques to enable robust predictive capabilities and meaningful benchmarks to clarify business decisions related to managed care contracting agreements
2. Post-deal monitoring and analytics: Application of data-driven analytics to understand the root cause of contract performance, enabling real-time market moves
- Pricing analytics: Management of the pricing adjustment intricacies in light of contractual agreements and state price transparency laws
- Value-based analytics: Streamlining the operational complexities of value-based agreements, enabling implementation of these new agreements at scale
Pharmaceutical Product Pricing and Contracts Lifecycle Management: The Importance of Linking Strategy and Operations
How can you determine the best pricing and contract strategies when launching a new pharmaceutical drug? The process is complex, especially when trying to meet both consumer and business expectations. But pairing strategy with operations may be the key to your success.
Read the article
ConvergeHEALTH Miner™: Data and analytics at scale
How do life sciences companies turn real-world data into insights that can drive more value for their organizations? ConvergeHEALTH Miner™ is an award-winning platform that transforms how medical innovations are developed, commercialized, and reimbursed. Explore how ConvergeHEALTH Miner™, composed of the Access suite detailed above and the Evidence suite, is generating value across the entire product life cycle.
The life sciences industry is under tremendous pressure.
Macro trends that are disrupting the life sciences industry include:
Growing challenges in R&D and declining productivity
- Declining returns on R&D investments over the past nine years
- The cost of bringing a drug to market exceeds $2B
- For many therapies, trials are becoming more complex and time-consuming
Mounting pricing pressures
- Public scrutiny of drug pricing is at an all-time high
- Use of generics and biosimilars continues to grow
- Reimbursement model is transitioning to a more value-based model
Growing demand for evidence
- Payers are demanding the value of medicines be demonstrated in a real-world setting
- Manufacturers are leveraging data and analytics in almost every aspect of their businesses
- Regulators are encouraging the incorporation of real-world evidence in decision-making
An end-to-end evidence generation capability is becoming critical to the future success of the industry and must address four fundamental challenges:
- How do we effectively manage all of this disparate digital health data?
- How can we rapidly generate insights from them?
- How can we empower more stakeholders to leverage data and insights?
- How do we act on these insights to drive decision-making?
…and how do we do this at scale?
State price transparency reporting
Operational considerations for 2020
Building an evidence-driven framework for greater access
Rethinking biopharma communication in 2020