Stakeholder Advisory Boards
We have established a network of clinicians, payers, and patient advocates in a variety of therapeutic areas whose knowledge and input can be leveraged for market research, including conjoint analyses for optimal pricing strategies and model the potential uptake/market share of therapeutics.
Case Study 1--Conjoint Analysis
Situation: A client with a novel therapeutic in late stage trials in a market with several established competitors was interested in understanding the product attributes that would make it most enticing to payers, physicians, and payers and to use this to optimize pricing strategy and forecast potential market share.
Approach: We undertook a primary market research program and assembled a panel of patient, physician, and payer KOLs to understand the typical patient treatment journey and to also understand the most important attributes from patient, payer, and prescriber perspectives for a new therapeutic (e.g., dosing frequency, price, mode of administration, etc). Conjoint analysis based on different levels for the most attributes, shown to a separate group of KOLs, was then used to derive the optimal product profile.
Outcome: The client was able to use these data to optimize their pricing strategy and forecast their potential market share based on the key attributes of their product vs. competitors.
Approach: We undertook a primary market research program and assembled a panel of patient, physician, and payer KOLs to understand the typical patient treatment journey and to also understand the most important attributes from patient, payer, and prescriber perspectives for a new therapeutic (e.g., dosing frequency, price, mode of administration, etc). Conjoint analysis based on different levels for the most attributes, shown to a separate group of KOLs, was then used to derive the optimal product profile.
Outcome: The client was able to use these data to optimize their pricing strategy and forecast their potential market share based on the key attributes of their product vs. competitors.
Case Study 2--Application to Clinical Trial Outcomes
Situation: A client in the planning stages of Phase I clinical trials for a novel therapeutic wanted to identify the impact of trial endpoints on drug utility and prospects for market access.
Approach: An advisory board comprised of payers and clinician specialists from the US and EU5 was established. These stakeholders provided key input on patient important metrics, including safety.
Outcome: The client was able to use these data to design clinical trials based on meaningful patient important outcomes that would demonstrate the most value and thus optimize payer coverage.
Approach: An advisory board comprised of payers and clinician specialists from the US and EU5 was established. These stakeholders provided key input on patient important metrics, including safety.
Outcome: The client was able to use these data to design clinical trials based on meaningful patient important outcomes that would demonstrate the most value and thus optimize payer coverage.