Real-world Insights Drive Product Value for Life Sciences Leader

The client, a leading life sciences company, needed robust health economics and outcomes research (HEOR) to showcase the real-world value and impact of its products. Operating in a highly competitive market, the company faced the challenge of demonstrating product efficacy and cost-effectiveness to key stakeholders, including healthcare providers, payers, and policymakers.

Objective

The client sought to better understand how their product could improve patient outcomes and deliver economic value, thus helping to strengthen their market position and ensure broader access to their therapy. Phronesis was commissioned this work to enhance their market positioning by providing evidence of the clinical and economic value of their product in real-world settings.

Specifically, the company faced challenges in:

• Demonstrating the cost-effectiveness and clinical benefit of their product to payers and healthcare systems
• Gaining deeper insights into how their product performed in diverse patient populations, outside of controlled clinical trials
• Aligning their product’s value with the broader healthcare landscape to improve market access and reimbursement

Solution

Phronesis applied a combination of health economics research, patient journey mapping, and real-world evidence (RWE) analysis to address the client’s challenges. Our approach focused on understanding the clinical, economic, and humanistic outcomes of the product as experienced by patients in real-world conditions.

Key elements of our solution included:

• Real-World Evidence Generation: Phronesis conducted an extensive study on the product’s performance in real-world settings, analyzing patient outcomes, adherence rates, and treatment effectiveness. This data helped validate the clinical value of the product beyond controlled trial environments

• Patient Journey Mapping: By mapping the patient journey, Phronesis identified key touchpoints where the product could have the greatest impact, helping the client align their product positioning and messaging with the specific needs and challenges faced by patients and healthcare providers

These methods were tailored to the client’s objectives and provided actionable insights that informed both their internal decision-making and external communications with stakeholders.

Impact

As a result of the engagement, the client was able to successfully leverage real-world insights to enhance their market access strategy and improve product positioning. The economic and clinical evidence generated helped strengthen their case for reimbursement and provided a clear narrative on the product’s value to healthcare systems.

Measurable outcomes included:

• Improved market access, with more favorable reimbursement decisions from payers
• Enhanced relationships with healthcare providers and stakeholders due to the robust evidence supporting the product’s value proposition
• A clear path forward for pricing optimization, with a detailed understanding of the economic impact the product had on healthcare systems

This engagement has positioned the client for long-term success by providing evidence-backed insights that demonstrate the tangible benefits their product offers to both patients and the healthcare system at large. By understanding and communicating these outcomes effectively, the client has strengthened its market presence and ensured better access to their therapy in a competitive market.