5 min reading time

I’m very excited about this one, a free webinar from Elizabeth Brooks entitled “How to Get Past the Value Analysis Committee” at https://medgroup.biz/VAC.

I was with a client with great technology and minimal sales. The doctor/co-founder was lamenting, “We have a solid clinical story, we just can’t seem to get our value across to the financial side of the hospital.”

That’s when I called Beth at Decision Driver Analytics. After we talked I said, “Beth, you’ve got to share this with the group.”

On October 24, Beth will tell us how to measure value from a hospital’s perspective.
• What data elements are important?
• How do you generate the data?
• How do you package the information for the VAC?
• Who delivers the information to the VAC?

She told me, “In general, what works for VACs, works for payers too. VACs and payers are your customers so give them what they want and need. It’s doable if you’re smart about it.”

“How do we provide evidence of combined clinical and economic at launch” is one of the questions she gets most often. Beth will share:
• How to do qualitative research to learn what facilities seek
• How to maximize existing peer-reviewed publications on new and incumbent tech
• What to do if there really is no data out there
• How to maximize studies through budgetary impact models / sensitivity analyses

Whether you’re new at selling into hospitals or an old pro, I’m sure Beth will teach you something new on the 24th.

Join us at https://medgroup.biz/VAC and don’t worry if you can’t make the live event. We’ll record the call and make it available for all who register.

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By the way, Beth is also doing a two-hour workshop in New Jersey with me on April 3. See https://medgroup.biz/10x for details and check out the other seven workshops we’ve confirmed as part of MDTX, the new Medical Device Technology Exchange.

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For my birthday this week, would you click https://www.medgroup.biz/MDG and follow? Thanks!

Joe Hage
Medical Devices Group Leader

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Joe Hage
🔥 Find me at MedicalDevicesGroup.net 🔥
Ron Sandell, please try https://medicaldevicesgroup.net/webinar/vac/ and let me know if you’re able to register. If not, I can register for you.

Joe Hage
🔥 Find me at MedicalDevicesGroup.net 🔥
Terrell Williams, I’m very intrigued by your comment. Are you saying there’s a His-bundle pacing (HBP) device that’s available but not reimbursed and therefore out of reach for patients?

I found this article, http://www.medscape.com/viewarticle/844740, but am still unclear. Would you tell us more in the context of today’s post? Thanks for the conversation.

Joe Hage
🔥 Find me at MedicalDevicesGroup.net 🔥
Huge registration numbers for this. I’m not surprised. Join us!

Joe Hage
🔥 Find me at MedicalDevicesGroup.net 🔥
Hey Elizabeth Brooks, does this ever come up in the conversation? How to do you address it?

Jeanmarie Tenuto
Strategic Marketing Executive
Links?

Steve Corsello
Healthcare Distribution & Consultation
Joe I’m very interested in this subject but cannot ‘get the slides’ . Suggestions?

Elizabeth Brooks
Executive Vice President, Global Commercialization Services at TTi Health Research & Economics
Rian Wendling, thanks for your question regarding the “value/cost” to the hospital of a human life. The short answer is that the primary business of hospitals is to keep their patients healthy. From a strict “cost” perspective, keeping patients alive is expensive, but that’s what hospitals do. I would simply present the direct cost impact of your technology vs. the costs of their current practices side by side with presentation of your data that shows reduced mortality rates with your technology vs. current practices. The clinical benefits in this case will offset the costs. All of this is, of course, assuming that you have solid data demonstrating significant reductions in mortality and that acquisition of your technology is within the hospital’s means (in a reasonable sense). As a rule of thumb, third-party payers say a technology is cost-effective if it costs between $50K and $100K per quality-adjusted life year saved.

Hillary Lowles
Digital Marketing Strategist
Karen Root, Stacy Prigmore

Ron Sandell
Business Development Director, Mid-Atlantic Region at CapsoVision, Inc.
When I click on the link for the 10/24 program the page goes blank . Any suggestions?

Rian Wendling
Bioengineering in Business | Director Of Business Development at ReddyPort
After listening to the presentation (which was great by the way) and all of the questions, I had a question still ringing in my head that didn’t come up, so I thought I would post here and see if there were any perspectives on it.

What is the “value/cost” to the hospital of a human life?

AKA, How will mortality rate reductions be addressed in a budgetary analysis model? If a technology does not have a solid budgetary argument, but is shown to save lives, is this something that will offset the costs for the VAC? When a discussion is largely about dollars and cents, how does human life factor into the equation?

Beluh Mabasa Ginting
Section Head of Standardisation at Directorate of Supervision of Medical Devices and Household Health Ministry of Health
In my opinion registration number is not the only one. The most important thing is how medical device manufacturers can demonstrate and ensure that the medical devices they made (premarket) and which are in market (post market) comply the standards.

Ron Sandell
Business Development Director, Mid-Atlantic Region at CapsoVision, Inc.
Link doesn’t connect.

Julia Walton
Business Development Executive @ Astea International
http://www.differentia.co/qlik/sector/healthcare/

Terrell Williams
Founder, Pacemaker Patient Advocacy Group, Inc.
HBP is available Joe, and reimbursed. In fact it is priced, like a commodity, as are pacemakers in general. Hospital administrators do face thin margins. Since it takes 15 minutes longer than the usual one hour, an EP whom is expected to implant 6 pacemakers may only implant 5 in a day. That hurts the top line. After a patient gets “pacemaker induced heart failure,” the “payers” support the more lucrative CRT pacemaker, which seems to work in about 70% of iatrogenicly paced patients, but not as well as HBP because now in stead of one, you have two leads that bypass the cardiac conduction system, as opposed to hundreds of choreographed sites of ventricular activation. What if patients were involved in the choice of paced ventricular activation? I think they would conclude that not only is heart failure expensive, but they just want to live and forget they have a pacemaker.

Terrell Williams
Founder, Pacemaker Patient Advocacy Group, Inc.
Pardon me if my observations are a bit off the subject topic; I mean no disrespect. It’s just seems the medical / industrial complex is all about an incestuous scramble, focusing on the numbers, and seems to have dissed or at least forgotten the patient. Perhaps a topic for a more appropriate discussion…. Thanks.

Jackie Brock
Experienced Sales Professional
I am looking forward to participating in this seminar. Valuable information. Thanks you!

Rian Wendling
Bioengineering in Business | Director Of Business Development at ReddyPort
Wow, thank you for the great insight Elizabeth Brooks.

Terrell Williams
Founder, Pacemaker Patient Advocacy Group, Inc.
Too bad patients don’t matter any more. On the day 59 died in Las Vegas , more mothers, brothers and sisters died (that day and every other day) of apical ventricular pacing. Sure, the literature suggests it takes 15 minutes longer to activate the cardiac conduction system by His bundle pacing, but it’s all about the money and efficiency, ethics notwithstanding. Check it out if not convinced.

Bruno Guillaumond
VP Sales and Marketing at B-Temia Inc.
I did attend the webinar and found it very informative too. Thanks for this. I have got another question that I could not ask during the talk. I am actually wondering how clinical and economical data collected and analyzed outside of the US (Europe or Canada for instance) would be perceived by the VACS ? Would they give the same credit than for studies conducted in the US ? Thanks !