Cultivating Dialogue Between Diverse Hospital Stakeholders to Inform Product Pricing
March 16, 2015 3:10pm - 3:50pm National Harbor 4 Convention Center Level 3
This presentation will address the increasingly complicated landscape of hospital products. Specifically, it will explore how research can integrate the views of multiple key hospital stakeholders (in this case ID Pharmacists, Emergency Department Directors, and Infectious Disease Specialists) to arrive at a pricing recommendation. The presentation will explore both the value of such an integrated dialogue as well as technical and methodological considerations to ensure its success.
BUSINESS ISSUE: Pricing a product for the hospital setting is becoming increasingly complicated. Numerous stakeholders have very different perspectives on utilization, and all of these stakeholders make their voices heard both inside and out of P&T discussions. Traditional research often explores the views of only primary stakeholders and neglects the impact of secondary stakeholders. This problem is compounded by the decreasing budgets often available for pricing research. This presentation explores how to effectively integrate the disparate views of multiple stakeholders with different perspectives and levels of knowledge into pricing research – and how to navigate the challenges of doing so on a limited budget.
NARRATIVE: This presentation will explore a case study of hospital pricing research for a new antiviral agent. The case study will be co-presented by both the client and research agency. It will discuss three core challenges faced by the research, explore how each challenge was successfully navigated, and identify key considerations for other researchers designing similar projects.
The presentation will focus specifically on three core challenges:
- The need to conduct robust and detailed pricing research within the confines of an extremely limited budget
- The need to navigate a complicated pricing decision informed by multiple hospital stakeholders, each with very different perspectives and different levels of information and context.
- Since the pricing decision will be made via Hospital P&T committee dialogue and each stakeholder will have a different piece of information to add to the discussion, research needed to capture not just isolated perspectives, but the interaction between stakeholders to determine how dialogue would affect a final pricing decision
To address the budget challenge, the presentation will explore keys to effective small sample research, including iteration, dialogue cultivation, and small sample estimating techniques.
To address the sample challenge, the presentation will discuss key considerations behind selecting the right respondents to inform a decision.
To address the integration challenge, the presentation will discuss how to use online bulletin boards and active moderating techniques to facilitate dialogue between disparate stakeholders
Three lessons participants will take away from this talk:
- In the post-ACA world, pricing decisions will increasingly incorporate the views of multiple stakeholders. This will be particularly true in Accountable Care Organizations and Integrated Delivery Networks, but will also apply even to more traditional hospital and physician practice environments.
- As the number of influential stakeholders grows, it will become increasingly important not just to capture individual viewpoints, but also to evaluate how dialogue between stakeholders drives a pricing decision.
- Even with limited budgets, it is still possible to run effective and robust pricing research that integrates the viewpoints of all key stakeholders, not just payers and pharmacy directors.
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