David Gregory, healthcare/life sciences consulting leader, moderated a panel discussion at the 2019 MedTech Conference entitled, “How medical device coverage decisions are made ... really.” His panelists included Dr. Steven Stern, principal at Stern Health; Dr. Jim Cross, president at Jim Cross MD Consulting, LLC; and Dr. Lynne Milgram, MBA, chief medical officer at Sharp Community Medical Group.
This video features commentary to a frequent question among medical device companies of medical directors, “What is your process for evaluating medical technology?”
- Economic evidence is rarely looked at
- If companies go through the new current procedural terminology (CPT)-route, they’ll need good, solid clinic evidence (level one and two) and more than one study with large end in order to convince a committee to make a decision
- Consider presenting a succinct dossier that helps set the stage for doctors to understand the standard of care today, what’s unique about your product, what’s the evidence that supports it, what do the societies say about it and what are other payers doing?
- Show the medical directors where they’ll have value using your device
- Make sure your pitch is patient-centric. How will your device better the life of the patient?
- Communicate the value proposition of your product