PRIA Healthcare's Patient Access Programs: Vital to the Commercialization and Adoption of Groundbreaking Medical Technologies
Patient Access Programs (PAPs) Are Vital to the Commercialization and Adoption of Your Groundbreaking Medical Technology?
Patient Access Programs (PAPs) are instrumental in driving the successful commercialization and adoption of new medical technologies. According to the Center for Connected Medicine (CCM), and for the second year in a row, health system leaders ranked patient access as the top challenge that could be improved with new technologies attempting commercialization (CCM).???
PRIA’s custom-designed PAPs are tailored to address the specific needs and objectives of each of our partner’s innovations in MedTech and life sciences. We understand the importance of designing custom programs that are a piece of the overall execution of the reimbursement strategy for our customers. By consulting and implementing a world-class and state-of-the-art PAP with PRIA Healthcare , you can expect elevated results and accelerated adoption for your MedTech innovation, such as:
Boosted Market Penetration: PRIA’s specifically designed PAPs involve patient advocacy and support for medical device manufacturers and bridge the often-evident gap between providers and groundbreaking innovations in healthcare. PRIA’s PAPs are designed to streamline the processes with payers, pushing for access to new and novel therapies, with a goal of accelerated penetration into the US healthcare market.??
Research conducted by Dr. Bennett Levitan revealed that patient engagement can also benefit medical device manufacturers, and estimated that patient input during the early stages of study design:
By partnering with PRIA Healthcare, Innovators can expect custom-designed patient access programs that address the specific goals and needs of their technology while gathering the necessary clinical outcomes needed for creating positive coverage policies. The specific outcomes obtained within the PAP inform and support the necessary steps needed for clinical evidence planning and will align with payer engagement activities.?
Optimized Reimbursement and Coverage: “Effects due to decision-making processes are unclear, although specific components or outcomes of these processes, such as payment, product categorization, and cost-sharing, may have more discernable effects. In theory, when a payer’s decision-making processes are more transparent and evidence-based, this information can foster innovation that enhances consumer welfare by sending clearer signals to MedTech innovators about the types of products that payers place more value on, and how they assess that value. Timeliness and consistency in the payer decision-making processes regarding coverage and reimbursement for a technology may also help by reducing developers’ and investors’ level of uncertainty about the likelihood of payers reimbursing a new product (ASPE.HHS.gov, Assistant Secretary for Planning and Evaluation - HHS ).”?
PRIA Healthcare’s progressive patient access program solutions are designed with your reimbursement strategy in mind, putting the decision-making of utilizing innovative, disease-state therapies back into the hands of the provider.
Enhanced Cost-Effectiveness & Value-Based Arrangements: Research performed by 麦肯锡 surveyed 157 C-Level Healthcare Executives and found that “MedTech companies can help meet healthcare providers’ aims of lowering fixed costs and improving service levels. In addressing inefficiencies among healthcare providers, we estimate that they will be able to tap new revenue streams worth up to $44 billion in the United States alone. Importantly, the opportunity lies not simply in delivering a product but in delivering a “solution.”?
?This cost optimization allows for greater resource allocation to other crucial aspects of commercialization.?
“The market dynamics for high-technology device manufacturers —such as IMDs, advanced diagnostic imaging, and some types of surgical instruments—are very different, and typically face greater barriers to entry, such as significant research and development costs, the presence of patents, and greater regulatory scrutiny from the FDA. As a result, competition in this segment is more limited and these kinds of devices can garner higher profits than conventional devices (Seligman 2013, Medpac ).”
Recently, payers have demonstrated higher trends toward value-based arrangements for new and innovative technology. These arrangements are usually partnerships between the provider groups and payers whereby the payer grants a coverage and payment pathway for the innovative technology while clinical data efficiencies and outcomes are assessed by the payer. During these arrangements the provider and payer risk share in the treatment episode payment for using that technology with the goal of achieving a favorable coverage policy. Favorable coverage would be based on the evidence collected in areas such as better clinical outcomes, cost savings, and fewer complications when patients were treated with that innovative technology vs standard of care.??
Improved Patient Outcomes: “Any delay in access has an impact on patient's health and potentially life savings drugs/ technologies could not be made available for months after Regulatory Agencies approval, limiting patients’ options to live longer and better. There is a clear correlation between fast access, patients' access to new technologies, and company commercial/ financial success (Medium.com, Andrea Mantovani ?? ).”?
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The?WHO?( World Health Organization ) also indicates that “Increasing the effectiveness of adherence interventions may have a far greater impact on the health of the population than any improvement in specific medical treatments. Studies consistently find significant cost-savings and increases in the effectiveness of health interventions that are attributable to low-cost interventions for improving adherence. Without a strategy that addresses the determinants of adherence, advances in technology will fail to realize their full potential to reduce the burden of chronic disease states. Access to innovative technology is necessary but insufficient in itself for the successful treatment of disease.”
By offering PRIA’s patient support and engagement, these programs positively impact patient outcomes by helping the patients obtain access to these technologies, whilst simultaneously achieving the health care economic objectives of our valued partners.?
Competitive Advantage: According to a report by?AdvaMed, The U.S. is the largest medical device market in the world, comprising over 40% of the global MedTech market. Furthermore,?Statista?( Statista ) reports the following:
Conversely, as of 2019,?FUSFoundation.org?( Focused Ultrasound Foundation ) concludes that due to many factors, including lack of reimbursement planning and patient access solution strategies,?
Industry experts at?McKinsey & Company?also emphasize that PAPs have become a crucial differentiator in the MedTech landscape. With the optimally designed Patient Access programs offered by PRIA, your novel technology is more likely to achieve successful implementation of a market access strategy that can streamline positive impact with key stakeholders, such as payers and providers. Furthermore, a comprehensive market access strategy is most often tied to a well-designed PAP that can ultimately lead to establishing your innovation as an industry leader, defying the odds, and achieving successful commercialization and adoption of your technology.?
At PRIA Healthcare, we understand the critical role Patient Access Programs play in the success of medical technologies. Our tailored solutions empower you to navigate complex market access challenges and ensure your innovations reach the hands of the patients who need them most. With over 11 years of experience as an industry leader in accelerating healthcare innovation, PRIA has helped over 100 MedTech Innovators improve the lives of over 30,000 patients.
PRIA is on a mission to accelerate the adoption of healthcare innovation by advocating for consistent and reliable reimbursement. If you are ready to accelerate your MedTech innovation to the next level, reach out to our team of highly credentialed experts at?[email protected]?to discuss how PRIA’s patient access platform solutions can drive the adoption and impact of your groundbreaking technology.?
PRIA Healthcare – Accelerating Healthcare Innovation?
Authored by: Marie A. , Chelsy Peet , and Jennifer Saab, MSM, CPMA,COC
Impressive insights! PRIA Healthcare PRIA Healthcare's tailored Patient Access Programs pave the way for MedTech success, breaking down barriers and enhancing market penetration. A game-changer in healthcare innovation.