Currently, one of the main trends within the life sciences industry is the move from cost-based pricing towards value-based pricing.
The main benefit of value-based pricing tools is that they provide transparency: the product’s value contribution to the end user is clear. With such tools, field teams are able to discuss various risk sharing scenarios and flexible pricing options with customers. This results in a better understanding between key stakeholders and life science companies of a product’s risk distribution and value contribution. The ability to present new pricing methods and to demonstrate the value of products also helps optimize market entry.
Examples of value-based pricing tools include:
- Managed entry simulators
- Risk sharing calculators
Of these examples, two particular use cases have found increasing application in the field:
- Capitation-based payment calculators, which present the cost variation and potential savings based on patient or population characteristics.
- Outcomes guarantee calculators, which present the budget impact of treating patients with the new product while taking into account the rate of treatment failure.
BaseCase provides all the tools that your field teams need, together on a single platform.
However, what constitutes “value” for stakeholders changes constantly, and so value-based tools need to be flexible in order to adapt to various scenarios. The BaseCase SaaS platform allows you to create and deploy value-based pricing tools that allow for flexible contracting and purchasing assumptions. With BaseCase, field teams can make clear, value-based propositions by easily performing live calculations to present custom pricing options and potential savings outcomes.