Reimbursement strategic planning is critical in today's dynamic health care environment. Understanding and reacting to changes in reimbursement policies and issues in the earliest stages of product development is vital to the success of a new product and, ultimately, to the success of a company. Princeton Reimbursement Group (PRG) provides a wealth of expertise to help you manage and aggressively react to changes in this environment. We help you strategically position products to maximize market impact. Our strategies are successful because they balance your needs with the requirements of the payer community.
PRG staff has decades of experience working exclusively with the medical device industry in developing and implementing reimbursement strategies that produce results. We monitor changes in health care policy, stay current in the health care marketplace, and nurture key relationships with public and private payers. With such a comprehensive approach, we can provide you with optimal assistance on issues pertaining to all aspects of reimbursement, from the pre-clinical stage through post-launch.
PRG can assist you in understanding all aspects of the reimbursement environment for your products through a reimbursement assessment. Included in the assessment are:
- Analysis of the various coding systems to determine if new codes need to be established for procedures involving your products
- Coverage research and analysis to understand the obstacles that may exist in obtaining appropriate coverage for the product and procedure
- Payment analysis to determine if payment is in place in all sites of service
- Evaluation of health policy initiatives that may impact the product's success
Payment Analysis and Modeling
PRG has extensive experience in developing cost and payment models to assist medical device manufacturers. We have developed models that address your strategic issues, including market size and potential, payment segmentation, product positioning, and the impact of the economics of health care delivery on a product's success.
PRG can assist you in developing and implementing comprehensive reimbursement strategies for your new medical products. The reimbursement strategic plan provides the insight necessary for optimal long-term positioning of a product in order to withstand issues created by the ever-changing health care reimbursement environment. Included in the strategic planning services are:
- Health technology assessments to critically evaluate safety and effectiveness of a new technology from a payer's perspective
- Strategic Reimbursement Plans to facilitate greater product acceptance
- Investor Presentations to facilitate capital funding
Health Care Policy Analysis
PRG can help you understand the nuances of policy changes. We constantly monitor coverage policy to analyze the impact of these policies on products and services. We can then help you in understanding the issues and managing them.
Our services include staying current and sharing the latest developments related to:
- Medicare National Coverage
- Local Coverage Decision monitoring
- Private Payers