Viewpoints on Innovation

5 Strategies for Greater Profit Capture in Medical Device – Do You Agree?

Analytics and Decision Support Medical Device
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For the medical device industry, the next several years are critical in the area of pricing execution. Massive changes in the political and regulatory landscape create tremendous opportunity for progressive-minded medical device companies to innovate in their value capture processes.

There are several areas we are drilling into, to develop informed perspectives on the most effective strategies and tactics to maximize the extraction of cash and profit from medical device products and services. These include:

  1. Pocket Price Visibility: Clear and consistent view of net price by customer after discounts, promotions, rebates, etc.
  2. Early Value Planning: Embedding your pricing and value experts into the early stages of the product development process
  3. Appropriate Launch Pricing: Launch pricing tied to quantifiable customer value assessments
  4. Segmentation: Tailoring price and service levels to defined customer or market segments
  5. Elimination of Pricing Leaks: Following well defined pricing policies that result in very few "one-off" deals

We are running a brief survey for medical device manufacturers in these areas and would love your participation. As our thanks, we will provide you with the complete responses along with some practical recommendations. Take the 5-minute survey at http://www.surveymonkey.com/s/NTHTTFC.

Originally published on October 4th, 2010

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Topics: Blog, Innovation, Medical Device, Price Strategy, Pricing, Pricing Execution, Pricing Strategy, Value, Value Capture, Value Creation, Value Management

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