We use 4P commercial analysis to create strategies that drive adoption.
4P commercial analysis is a system to establish the commercial incentives of all of the stakeholders in the purchasing decision so that your solution can be successful at launch without any costly redesign or change to the commercial model.
Who are the 4 Ps?
Patients
The ultimate end user. They are unlikely to be the purchaser or even be an influencer in the purchase, but their compliance to the solution is essential for its success.
Payers
Another word for the government sponsored insurance or private insurance company who pays the provider for the care in the US’s healthcare system. Often the key decision maker of what care is provided and how much is reimbursed (paid) for the care. They are usually incentivized by cost saving and enrollment.
Providers
Another word for the healthcare system, hospital, or clinic providing care to the patient. Often the entity making the final purchase. Most providers in the US are unprofitable so new purchases are not a priority for them. Understanding their economic drivers is key to influencing their decision making.
Partners
The most overlooked part of the purchasing decision, but often a critical stakeholder. These are the other companies who are necessary for your device to be sold and function. Examples might be the provider of the hospital records system that needs to accept your data, or your sales channel partner, or the manufacturer of another device that needs to be used in tandem with yours. Figuring out who your partners are is a critical part of forming your product and commercial strategy.
Contact us
contactus@verdinsolutions.com
+1-612-245-8550
Minneapolis, MN, USA