Commercial Enablement
Commercial Enablement
When bringing a life sciences product to market, the entire healthcare and regulatory ecosystem – including healthcare providers, patients, caregivers, health plans, regulators, advocates and more – needs to be taken into consideration to better alleviate the fear, uncertainty and doubt caused by the myriad of market dynamics facing the industry.
At Baker Tilly, our team of commercial enablement professionals understand the criticality for life science companies to plan for – and adopt – comprehensive go-to-market strategies. These tools enable organizations to effectively navigate through the pre-commercial assessment, field execution optimization and demand creation stages of a product’s launch program.
Guiding you through today’s uncertain and shifting environment
Understanding all possible market dynamics and adequately planning for each situation is a critical component to launching a product in today’s complex, disruptive and uncertain healthcare environment. At Baker Tilly, our commercial enablement team can help lead your life science organization through the myriad of situations that can cause a great deal of fear, uncertainty and doubt, including:
- Shifting to a new commercialization mindset: The line between traditional commercial execution and real world evidence is fading. From a shifting multi-customer environment with divergent demands for achieving economic outcomes and a movement from fee-for-service (FFS) to risk sharing cost models, disruptions across the life sciences industry are causing pharmaceutical and medical device companies to shift away from their traditional path to commercialization. This has caused companies to re-examine how they prepare for and execute their go-to-market strategies as well as the shift to a new commercialization mindset.
- Operational and regulatory dynamics: A shift in operational and regulatory dynamics is being primarily led by a multi-customer landscape possessing divergent demands for achieving economic outcomes, and a movement to value-based risk sharing arrangements. This is resulting in marketplace disruptions across all life science manufacturers that affect the growth path of all assets.
As a result, it has become even more imperative for your life science company to effectively plan for all possible contingencies and execute your go-to-market strategies with flexibility in order to adjust to ever-changing dynamics in today’s competitive marketplace.
Support to enhance and protect the value of your company’s brand
Baker Tilly works with life science companies to address the market dynamics resulting from a more customer-driven approach to healthcare, including:
- Planning for the optimization of the financial potential of the brand at launch and through its lifecycle
- Designing and executing end-to-end commercial solutions to achieve expected market and financial expectations
- Creating competency-based efficiencies across commercial functions to ensure field execution optimization
With the foundation of Baker Tilly’s unique Product Opportunity Evaluation Model (P.O.E.M.) to validate an asset’s economic value as well as plan for the successful launch of a new life science product, our commercial enablement team can help lead your company through a more linear, iterative building process methodology. Our team is able to:
- Conduct P.O.E.M. assessment – a 360-degree market dynamics and challenges profile
- Define and align competencies learned from P.O.E.M. with executional direction necessary to succeed
- Align execution campaign with complete collateral resources to align with every customers’ buying processes
Our process and solutions
Our experience includes helping emerging life sciences companies plan for and develop effective go-to-market programs, as well as helping established companies reinvigorate under-performing brands, expand access and utilization with payer and provider organizations, expand customer channels through innovative economic modeling, develop risk-sharing contracting strategies and create value-based dossiers and communications.
Whether the challenge is launching an entirely new product, relaunching an existing product or establishing a new division within the organization, Baker Tilly can help. We'll guide your company through the planning, pre-commercial development and launch of new products, while helping you expand market share and new-customer channels to keep your product brand on track and trending toward expected business performance goals. Our team can also step in to validate economic value potential of an asset in consideration of acquisition, in-licensing or merger.
Due to the amount of complex regulations that are applicable to the life sciences industry, it is imperative to incorporate adequate regulatory planning during the pre-commercial phase of a product. It is also important to have a keen understanding for the existing disease or patient landscape in order to create a process that can be successfully executed and that can establish long-term commercial success.
Baker Tilly’s commercial enablement team can provide help to your company during the pre-commercial assessment phase of a new or existing product, including:
- Commercial market dynamics: advising on disciplined market assessment, competitor intelligence, communications, and regulatory, fiscal and economic dynamics
- Commercial regulatory compliance: assessing risks and developing mitigation plans to foster a culture of compliance
- Market access (payer coverage and reimbursement dynamics): arranging commercial and government payer coverage, including the reimbursement landscape as well as government pricing and regulatory reporting dynamics
- Scientific affairs: outlining the medical education, publication and conference landscape as well as unmet patient or provider needs
- Medical affairs: mapping active and pipeline clinical trials with therapeutic landscape and patient profiles
Once the pre-commercial assessment phase has been completed and the program’s foundation has been laid out, planning the design of the execution program and establishing the proper assets to ensure successful deployment is required. Baker Tilly’s commercial enablement team can help your life science company establish and optimize its field execution strategy, including:
- Geographic optimization and operations structure planning: validating practical and efficient operations via geographic alignment, customer targets and sales execution requirements
- Field force planning: aligning the customer buying process with high-value healthcare providers (HCPs), and utilizing a proprietary value assessment platform that profiles HCP revenue generating potential based on a profit margin analysis inclusive of investment and potential revenue based on marketplace dynamic barriers
- Competency and development: clarifying role expectations and tailoring development priorities to establish proficiencies
- Expectations, incentives and motivation: aligning incentives and rewards to expectations
- Performance management: establishing performance key performance indicators (KPIs), management performance measuring tools and reporting platforms through expectation of achievement
- Commercial compliance: utilizing firm expertise to both advise, and where appropriate, design and deploy compliance management and reporting services, including communications from the Food and Drug Administration (FDA), KOL tiering and fair market value (FMV) assessments, product sample compliance and adverse event reporting
To drive market demand and also ensure disciplined adherence to all regulatory compliance requirements with the myriad of customers – providers, health systems, patients, caregivers and health plans – each must be adequately accounted for and addressed according to their needs. Baker Tilly’s life sciences team provides experience for demand creation considerations, including:
- Product promotion: utilizing the organization’s primary healthcare provider (HCP) interaction, the sales representative to provide approved product information and the practice’s support materials (e.g., samples, patient information, reimbursement knowledge, etc.) to support the HCP’s validation for product utilization
- Professional education: utilizing medical science liaisons (MSLs) and external key opinion leaders (KOLs) to provide clinical-based education to HCPs, including one-on-one education sessions, group-based education symposiums and pertinent publications
- Payer outreach and contracting: producing the product’s clinical and economic valuation for educating the economic decision-makers for access to the clinical and economic effects of the product in order to drive health plans to accept coverage of the product
- Patient advocacy: making use of patient advocacy groups and registries to incorporate into the therapeutic strategy covered by the product, as well as considering consumer promotion initiatives
- Patient support: crafting and sponsoring patient engagement and treatment support programs that enhance the value of the organization and brand to improve patient care management
What lies ahead: Life sciences industry outlook for 2024 and beyond
Download our informative whitepaper to help your life sciences company learn more about key developments that should be considered for 2024 and beyond.