Demonstrating Value to PayersDemonstrating Value to Payers

Originally Published MX September/October 2005

BUSINESS PLANNING & TECHNOLOGY DEVELOPMENT

When making coverage decisions, payers want data that demonstrate the value of new medical technologies.

Melissa Martinson and Rosemary Brekke

Talk about a crisis in U.S. healthcare—a crisis of cost, access, and quality—is widespread and common (see sidebar). In such an environment of concern, it is incumbent upon medical technology companies to concentrate their efforts on developing products that will improve the quality and value of healthcare. Medtech manufacturers will, of course, have to provide evidence of this benefit to payers. Success in doing so will be likely to expedite reimbursement, which in turn can increase the rate of adoption of innovative products. Savvy manufacturers, those long attuned to the need for including clinical outcomes data in regulatory submissions, now provide health economic data for payers too.