Is innovative pricing the right way to introduce your product to the market?

For both patients and industry, rewards can be gained by re-thinking pricing agreements – but the process of doing so is complex and time consuming, and experience in the field is still limited. A report points to a huge potential, and now a new course equips participants to evaluate whether it’s worth the effort.

Read on, if you’re considering a different approach to pricing agreements, but are unsure about what they have to offer.

A possible way to fewer conflicts and delays

In the report, “Health Data as a foundation for impact-based agreements”, The Knowledge Centre for Life Science uncovers opinions, possibilities, and barriers that all influence implementation of effect-based pricing agreements. Traditional pricing tends to end in delays and possible conflicts with The Danish Medicines Council. Perhaps impact-based agreements are an alternative way for certain types of new innovative medicines and therapies? The report seeks to answer that:

No shortcuts

The overall conclusion of the report is that there are no easy solutions or templates to resort to. On the other hand, both interest, will-power, and data are present, which can pave the way for further work on effect-based price agreements. As stated earlier, the process of setting up such agreements is quite time-consuming, but it’s a necessary process when clinical evidence is limited, e.g. in specialised areas of small and rare diseases as well as in personalised medicine.

Make decisions with your peers

“An innovative price agreement requires that you as a company take leadership and take on the task yourself. You must be accurate on strategy, process, and methods, and it’s an advantage if you have a common understanding of what task you are approaching. And there such be broad agreement that it’s worth the effort,” says Niels Christian Hirsch, who is Chief Advisor Market Access at Signum (formerly DLIMI).

You can find the needed clarification on the course "Introduction to impact-based risk-sharing agreements"

"Is a new approach to pricing the right way to introduce your product? There is obviously no straightforward answer to that. But it’s a good idea to learn from the experiences made by those who have already explored the possibilities and of course learn from experts in the usage of health data. Likewise, dialogue with others who are considering effect-based risk-sharing agreements can mature your decision-making. These elements are included in the Atrium course, Succeed with Risk-sharing Agreements (RSAs)," says Niels Christian Hirsch.

Join the course 18-19 April and acquire the necessary tools for assessing and deciding the right direction for your company. The course is lead by Tove Holm-Larsen (CEO, Pharmaevidence) and Niels Christian Hirsch (Chief Advisor Market access at Signum). Read more about the course.