In order to maximize the return on investment related to the expansion of new medical products, new product development (NPD) teams must consider device reimbursement and health economic strategies during the early stages of the design phase. These considerations, however, are often postponed until just prior to product launch, which can often be too late to change course. Anticipating what data CMS and private payers expect to validate reimbursement is vital for dictating the future success of a new product. NPD teams must understand and satisfy the minimum requirements necessary for product approval, while also demonstrating the value over existing devices in an increasingly competitive landscape.
- Considerations for product value propositions and intended patient populations
- Development of payment strategy
- Overview on how reimbursement codes get approved
Marilyn Denegre-Rumbin, MBA
Director, Payor – Reimbursement Strategy
Strategy & Business Development