A large multinational circulatory support device company with more than 200 patents, 500 clinical publications, and products featured in nearly 10 clinical guidelines engaged Baker Tilly to work with senior leaders to proactively monitor and generate real-world insights about the utilization and outcomes associated with the company’s device and its competitor’s product.
The client needed to comprehensively understand the health economic and clinical outcomes analysis of the organization’s circulatory support devices. They also wanted data and research on the utilization, economic billing and cost trends of a comparable competitor product.
Baker Tilly enabled the client to navigate real-world data (RWD) sources and identify the best dataset that aligns with its clinical and economic needs. The data was analyzed to assess the utilization, economic and clinical outcomes associated with the use of the client’s product to generate insights on the dominant and emerging market trends, at both the payer and provider levels. Baker Tilly provided insights on RWD about how providers bill the client’s product and its impact on the reimbursement rate of the product diagnosis-related group (DRG) over time. A detailed analysis was conducted on the utilization and economic trends of a new competitor product entering the market as well as evaluating its influence on the client’s market share.
The market trend and competitor analyses enabled the client to actively and thoroughly monitor and respond to the impact of its product within the market. Through the insights generated from Baker Tilly’s analyses, the client was able to have more meaningful discussions with payers and providers to demonstrate the economic and clinical value associated with the use of its product and to support favorable reimbursement decisions. Additionally, the client was able to proactively monitor its competitor’s performance and, ultimately, successfully acquire the competitor’s product, reducing threats to market share.